MobileMoney Fintech LTD (MMFL) has announced plans to accelerate innovation, strengthen customer security, and expand digital financial services following its successful separation from Scancom PLC, a move the company says positions it for long-term growth in Ghana’s rapidly evolving fintech industry.
The company made the announcement during its Extraordinary General Meeting (EGM) in Accra, where shareholders approved key governance and operational measures required to support MMFL’s transition into an independent fintech company.
The structural separation, which took effect on March 31, 2026, establishes MMFL as a standalone entity with its own governance framework, management structure, and shareholder engagement processes.
According to the company, the move marks a significant step in its strategy to deepen financial inclusion, drive digital innovation, and create sustainable value for customers, investors, and the broader Ghanaian economy.
In a statement issued after the meeting, MMFL said the new corporate structure would provide greater flexibility to respond to market opportunities while strengthening its ability to invest in technology, security, and customer-focused solutions.
Chairperson of MMFL, Victoria Bright, described the separation as a transformational milestone in the company’s growth journey and its ambition to become one of Africa’s leading fintech businesses.
“The separation gives MMFL greater agility and operational focus. It creates opportunities to strengthen governance, improve efficiency, and accelerate initiatives that deliver meaningful value to customers while supporting sustainable long-term growth,” she said.
She explained that the EGM was an important step in establishing the company’s independent governance structure, enabling shareholders to approve resolutions necessary for MMFL’s continued operations.
Among the resolutions approved were the transition of directors into the new company structure, the appointment of external auditors, and changes to the company’s dividend policy.
Shareholders endorsed the appointment of Ernst & Young as MMFL’s first independent auditors and approved a shift from semi-annual dividend payments to quarterly distributions, a move aimed at enhancing shareholder value.
Chief Executive Officer of MMFL, Shaibu Haruna, said the company’s independence would sharpen its focus on customer needs and strengthen its competitiveness within Ghana’s fast-growing digital financial services market.
According to him, the new structure will enable MMFL to respond more quickly to changing customer expectations, emerging technologies, and evolving market opportunities.
“As an independent fintech company, we are better positioned to accelerate innovation, strengthen security, improve customer experience, and develop solutions that meet the evolving needs of Ghanaians,” he stated.
Mr. Haruna noted that customer security and digital trust remain central to the company’s growth strategy as mobile money continues to play an increasingly important role in Ghana’s digital economy.
He added that MMFL’s strong financial performance in the first quarter of 2026 demonstrates the resilience of its business model and provides a solid foundation for future investments.
The company generated approximately GH¢1.7 billion in revenue during the period, representing a 28.4 percent year-on-year increase.
According to Mr. Haruna, the growth reflects increasing adoption of digital financial services and will support continued investments in technology infrastructure, cybersecurity systems, and innovative financial solutions.
Industry analysts view the separation as a significant development within Ghana’s fintech ecosystem, allowing MMFL to operate with greater strategic focus while strengthening its contribution to financial inclusion, digital transformation, and economic growth.
As digital payments and mobile financial services continue to expand across the country, MMFL’s independent status is expected to enhance its ability to develop new products, attract investment, and support Ghana’s transition toward a more digitally driven economy.
