MTN has started the transformation of its fintech operations across Africa, spinning off its Mobile Money (MoMo) business into standalone entities to comply with local regulations, attract investment, and accelerate growth.

Uganda is leading the way – shareholders just approved splitting MTN MoMo into a new company (MTN New FinCo), which could be worth $14 billion and list on the Uganda stock market in 3-5 years. Ghana will likely do the same soon, while Nigeria’s process is slower due to stricter regulations.

The changes come at a key time:
• MTN’s fintech revenue grew 27% last year, thanks to loans, savings, and money transfers.
• Its MoMo services processed over $320 billion in transactions for 63 million users across Africa.
• Partnerships (like with Mastercard) will help expand digital payments and cross-border services.

This isn’t just a business move—it’s about making financial services more accessible in Africa. With mobile money now earning more than traditional telecom services, MTN is betting big on fintech’s future.

What do you think? Will this help accelerate Africa’s digital economy?

MTN Press Release: MTN’s Fintech Spinoff Could Be the Biggest Shake-Up in African Finance Yet