MTN Group has achieved a significant milestone in its Ambition 2025 strategy, with MTN Uganda shareholders overwhelmingly approving the structural separation of MTN Mobile Money (U) Limited from its GSM operations.
The decision, backed by a 99.9% vote at an extraordinary general meeting (EGM) on July 22, 2025, aligns with MTN’s vision of delivering “leading digital solutions for Africa’s progress.”
The separation of MTN’s fintech and Mobile Money (MoMo) businesses from its traditional GSM operations aims to boost scale, efficiency, and customer service delivery. MTN Uganda is the first of the group’s listed subsidiaries to secure shareholder approval for this restructuring, setting a precedent for similar moves across other markets.
MTN Group President and CEO Ralph Mupita hailed the approval as a “key milestone” in the company’s platform strategy evolution.
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The move complies with Uganda’s statutory requirements to foster digital service growth, though the transaction’s completion awaits regulatory approvals and customary conditions.
In May 2025, MTN Ghana’s Scancom PLC also outlined plans at its EGM to restructure its MoMo subsidiary to meet national financial regulations and align with the group’s broader strategy.
MTN Group’s fintech arm has seen robust growth, serving over 63 million active monthly MoMo users across 14 of its 16 markets in 2024. These users completed more than 20 billion transactions, totaling over $320 billion in value.
