Accra: MobileMoney Fintech Limited (MMFL) has announced that its recent separation from Scancom PLC is set to drive innovation, enhance security, and deliver increased customer value. This strategic move positions MMFL for sustained growth and deeper financial inclusion within Ghana's rapidly evolving digital financial services sector. The company believes that this structural separation will offer greater agility and operational focus, enabling MMFL to swiftly address customer needs and capitalize on emerging opportunities.
According to Ghana News Agency, the announcement was made by Ms. Victoria Bright, the Chairperson of MMFL, following the company's Extraordinary General Meeting (EGM) in Accra. Ms. Bright emphasized that the completion of the separation marks a significant milestone in MMFL's journey towards becoming a leading fintech company in Africa. She highlighted that this move allows MMFL to enhance its governance, improve efficiency, and accelerate initiatives aimed at delivering meaningful value to its customers while supporting long-term sustainable growth.
Ms. Bright further explained that the EGM played a crucial role in establishing MMFL's independent governance framework. During the meeting, shareholders approved key resolutions necessary for the company's continued operations. These included the transition of directors into the new entity, the appointment of auditors, and resolutions related to dividend payments. Shareholders also endorsed the appointment of Ernst and Young as MMFL's first auditors and agreed to shift from semi-annual to quarterly dividend payments.
Mr. Shaibu Haruna, the Chief Executive Officer of MMFL, stated that the separation will allow the company to focus more sharply on customer needs while accelerating investments in innovation, security, and service excellence. He noted that the new structure enables MMFL to respond more quickly to changing customer expectations and seize emerging opportunities in Ghana's digital financial services sector. As an independent fintech company, MMFL is better positioned to drive innovation, strengthen security, and improve customer experience, ultimately meeting the evolving needs of Ghanaians.
Mr. Haruna also reported strong financial results for the first quarter of 2026, with MMFL generating approximately GHS1.7 billion in revenue, marking a 28.4 percent year-on-year increase. This performance lays a solid foundation for continued investment in customer-focused innovation, digital infrastructure, and security.
The structural separation of MMFL took effect on March 31, 2026, establishing the company as an independent fintech entity with its own governance and shareholder engagement framework. MMFL stated that this move aligns with its long-term vision of advancing financial inclusion, driving digital innovation, and creating sustainable value for customers, shareholders, and the broader economy.