MTN Uganda Shareholders Approve Fintech Spin-Off, Plans Separate Listing

MTN Uganda has received shareholder approval to carve out its mobile money and fintech division, MTN Mobile Money (MoMo), into a standalone company majority-owned by MTN Group Fintech Holdings B.V. This strategic move aims to unlock value, enhance operational focus, and accelerate digital financial inclusion across Uganda by positioning fintech as a core growth driver beyond traditional telecom services. The newly formed fintech entity is expected to list separately on the Uganda Securities Exchange within three to five years, alongside MTN Uganda’s telecom business. The separation aligns with MTN Group’s broader Ambition 2025 strategy and reflects the growing importance of mobile money services in Africa as key enablers of financial inclusion and digital transformation. The decision also positions MTN to better compete with rivals such as Bharti Airtel and attract specialized investors interested in digital financial services. Completion of the transaction is subject to regulatory approvals and customary conditions.