MTN Restructures Fintech Arm Ahead of Mastercard Investment

MTN Group is pushing forward with plans to separate its fintech units in Nigeria, Ghana, and Uganda as part of a restructuring strategy that will allow Mastercard to acquire a minority stake.

The move follows a 2023 agreement between the two companies and is expected to be completed in the first half of 2025.

MTN CEO Ralph Mupita confirmed that while Ghana and Uganda’s restructuring is progressing smoothly, Nigeria faces additional regulatory hurdles.

The fintech division, valued at approximately $5.2 billion, is a key revenue driver for MTN, and the partnership with Mastercard aims to accelerate growth in digital payments and remittances.

The deal is subject to final due diligence and regulatory approvals before Mastercard formalizes its minority investment.

SOURCE: AGENCIES