Accra: The Chief Executive Officer of Mobile Money Fintech Limited (MoMo), Shaibu Haruna, has assured customers that the company's transition into an independent fintech entity will not disrupt mobile money services. Haruna explained that the separation from MTN Ghana is in line with regulatory requirements and will not alter how customers access MoMo.
According to Ghana Web, Haruna spoke on the Citi Breakfast Show, explaining that the move was driven by Ghana's financial regulations. "We became a standalone entity because it was necessary under the Payment Systems and Services Act, which requires us to operate as a separate company regulated by the Bank of Ghana," he said.
He revealed that the restructuring process has been ongoing for five years, involving significant adjustments to meet regulatory standards. Beyond compliance, Haruna noted, the transition will enable MoMo to expand its offerings and build strategic partnerships. "Beyond regulation, we want a system that allows us to go beyond a wallet service. This will help us scale quickly and form partnerships that bring more value to Ghanaians," he added.
Looking ahead, Haruna disclosed that the company plans to list on the local stock exchange within the next three to five years, giving Ghanaians the opportunity to invest in the business. "We have committed to our shareholders that within three to five years, MoMo will be listed on the local stock market so Ghanaians can buy shares in the company," he said.
He reassured customers that their experience will remain unchanged despite the restructuring, with services continuing through MTN's distribution network. "Our customers will not see any difference in how we serve them. They will continue to access services through the MTN network. The only change will be the level of innovation we deliver," Haruna stated.