MTN Group is accelerating the separation of its mobile money business in Nigeria and Uganda as part of a broader strategy to attract fresh investor capital and unlock the full value of one of Africa’s fastest-growing fintech operations.
The telecom giant is finalising the spin-off of its fintech subsidiaries in both countries, creating standalone entities that can accommodate strategic investors while complying with evolving regulatory requirements. The move marks another major step in MTN’s ambition to transform its Mobile Money (MoMo) platform from a telecom-linked service into an independent financial technology powerhouse.
Industry sources familiar with the development said the restructuring is linked to MTN’s long-term fintech strategy following its landmark commercial partnership with Mastercard in 2023. The deal valued MTN’s fintech business at approximately $5.2 billion and paved the way for potential minority investments in key markets across the continent.
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