The Board Chairman of MTN Ghana, Ishmael Yamson, has assured shareholders of the company that they will not lose any value or income after a planned restructuring of its mobile money business, MobileMoney Limited.
Yamson explained that the company had to make the move in compliance with Ghana’s Payment Systems and Services Act of 2019.
“You will still own your Scancom PLC shares. You also now have a valid interest in the New FinCo through the trust. You will receive dividends and voting rights through the trust when you buy our shares, Scancom PLC shares… You will not lose any value,” Mr. Yamson assured at an Extraordinary General Meeting in Accra on Wednesday on May 21, 2025.
He pointed out that the process is designed to protect shareholder interests and meet regulatory demands through transferring the Mobile Money Limited into a new Ghanaian company currently referred to as New FinCo.
He stated that the process involves the Ghana Stock Exchange, hence the law will protect the shareholders’ investment.
“This process is designed to protect shareholder value and give the business time to mature before it is listed,” he added, noting that the restructuring will be tax-neutral, with costs shared among MTN Group, Scancom PLC, and the Momo business.
Mr. Yamson said the new arrangement will see the creation of a trust to hold shares in New FinCo on behalf of minority shareholders,
This is expected to align with the existing ownership structure of Scancom PLC, he said adding that once completed, MobileMoney Limited will cease to exist as an entity, with all its operations and assets rolled into the new company.
“This change is good for the future of our business and your investment,” Mr Yamson told shareholders. “It will liberate MML to grow faster, compete better, and attract the right skills to thrive in a digital future,” he said.
No resolution was passed at the meeting.
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