Shareholders of MTN Uganda approve division of Mobile Money services from primary operations
In a significant step towards executing MTN Group's Ambition 2025 strategy, MTN Uganda has secured approval from its shareholders for the structural separation of its mobile money (MoMo) and fintech business. This move is part of a broader group initiative to accelerate digital transformation and improve service delivery across African markets.
On July 22, 2025, an Extraordinary General Meeting (EGM) was held, during which MTN Uganda shareholders overwhelmingly approved the separation with 99.9% in favour. The approval enables the company to proceed with the legal, regulatory, and operational steps necessary for the separation, pending final regulatory approvals and tax audits.
The separated fintech business will be integrated into a new entity, majority-owned by MTN Group Fintech Holdings B.V., a subsidiary of MTN Group. The remaining shares will be held in trust for the benefit of MTN Uganda’s existing institutional and retail shareholders, ensuring they continue to participate in the value created by the mobile money business.
The ultimate goal is to list the new fintech company on the Uganda Securities Exchange (USE) within three to five years, subject to market conditions and regulatory clearance. At that point, MTN Uganda shareholders would hold separate interests in both MTN Uganda (telecom) and the new listed fintech entity.
The strategic rationale behind this separation includes operational focus, enhanced value creation, financial and digital inclusion, and alignment with both MTN Group’s strategic objectives and Uganda’s national goals for digital service growth. Uganda is the first listed MTN subsidiary to achieve this milestone. Similar separations are planned for other MTN operations across Africa, in line with the Group’s platform strategy.
The separation is designed to allow each business—telecom and fintech—to focus on its core competencies, driving efficiency and innovation. By creating a standalone fintech entity, MTN aims to unlock greater value from its mobile money operations, which have become deeply embedded in Uganda’s daily economic life since their launch in 2009.
The completion of the transaction remains subject to regulatory approvals and customary closing conditions. The trust structure is designed to ensure transparent oversight and continued benefit for MTN Uganda’s shareholders during the transitional period before the eventual listing.
In conclusion, MTN Uganda’s structural separation of its mobile money and fintech business marks a significant milestone in the company’s evolution and MTN Group’s Ambition 2025 strategy. By creating a distinct, scalable fintech entity—with a clear path to public listing—MTN aims to maximize value for shareholders, improve service delivery, and support Uganda’s digital economy, while setting a precedent for similar separations across its African operations.
The structural separation of the mobile money and fintech business in MTN Uganda was approved at an Extraordinary General Meeting on July 22, 2025, with 99.9% of shareholders in favor. The separated fintech business will be integrated into a new entity, majority-owned by MTN Group Fintech Holdings B.V., with the remaining shares held in trust for existing shareholders. The ultimate goal is to list the new fintech company on the Uganda Securities Exchange, allowing MTN Uganda shareholders to hold separate interests in both MTN Uganda (telecom) and the listed fintech entity.
