MTN Uganda is taking a bold step toward reshaping its fintech landscape, as shareholders have greenlit the structural separation of its mobile money and fintech business, MTN Mobile Money (U) Limited (MTN MoMo), into a standalone entity. The decision, finalized during a hybrid Extraordinary General Meeting (EGM) on July 22, 2025, marks a pivotal moment in MTN Uganda’s strategic roadmap, aligning with its parent company’s Ambition 2025 vision to lead digital solutions across Africa.
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The newly formed entity, majority-owned by MTN Group Fintech Holdings B.V., will operate independently once regulatory approvals are secured. A trust structure will hold the remaining shares, ensuring that institutional and retail minority shareholders continue to benefit from the venture. This move is designed to sharpen operational focus, boost agility, and unlock efficiencies, positioning MTN MoMo to scale rapidly in Uganda’s growing digital economy.
Charles Mbire, Chairman of MTN Uganda, emphasized the strategic importance of the decision, stating, “This transaction aligns with global market trends and is designed to unlock value for our shareholders while future-proofing the fintech business.” The separation reflects a broader industry shift toward specialized fintech platforms, enabling MTN MoMo to compete more effectively in Africa’s fast-evolving mobile money market.
Sylvia Mulinge, CEO of MTN Uganda, highlighted the move’s potential to drive financial and digital inclusion. “The structural separation of our fintech operations enables us to enhance efficiency and deliver superior shareholder value while transforming lives through digital innovation,” she said. The initiative supports Uganda’s broader digital transformation goals, with MTN MoMo playing a central role in expanding access to financial services.
Richard Yego, CEO of MTN MoMo Uganda, expressed enthusiasm about the platform’s future, noting, “Building the largest fintech platform in Africa is a core pillar of our Ambition 2025 strategy. This separation will allow us to serve our customers better and accelerate growth.” MTN MoMo has already made significant strides in Uganda, and the standalone structure is expected to further enhance its ability to innovate and scale. The transaction, advised by S&L Advocates and Stanbic Bank Uganda Limited, awaits regulatory approval and fulfillment of customary conditions. As MTN Uganda navigates this process, the company remains committed to transparency, with further updates to follow in line with regulatory obligations.
This strategic separation positions MTN MoMo to capitalize on the growing demand for mobile financial services in Africa, reinforcing the telecom’s role as a key player in the continent’s digital transformation.
