MTN Uganda Secures Approval from Shareholders to Spin Off and List MoMo Fintech Division

MTN Uganda has gained shareholder approval to separate its mobile money division, MTN MoMo (U) Limited, from its telecommunications operations, paving the way for MoMo to operate as an independent entity and be listed on the Uganda Securities Exchange. The decision, ratified during an Extraordinary General Meeting after considerable scrutiny and legal challenges, is part of MTN’s strategy to maximize the potential of its rapidly growing fintech sector. MoMo will merge into a new entity called MTN New FinCo, primarily owned by MTN Group Fintech Holdings. This pivot aligns with MTN Group’s Ambition 2025 strategy, aiming to enhance digital transformation in Africa. With over 21 million subscribers and substantial transaction volumes, MTN Uganda is well-positioned in the competitive fintech landscape, aiming for a dual listing in the next few years.

MTN Uganda Secures Approval from Shareholders to Spin Off and List MoMo Fintech Division

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