MTN Mobile Money Uganda (MTN MoMo) is laying the groundwork to list its shares on the Uganda Securities Exchange (USE), in a move aimed at boosting local investor participation and unlocking long-term value for shareholders.
The revelation was made by Richard Yego, the managing director of MTN MoMo, during the launch of a six-month customer engagement campaign dubbed ‘The Power to Be More’.
The campaign encourages customers to explore the full range of services offered through mobile money. According to Yego, the listing is expected within the next five years and will follow the structural separation of MTN MoMo from its parent company MTN Uganda.
This separation is part of a broader MTN Group strategy to expand its financial technology (fintech) portfolio across Africa.
“MTN Uganda is proceeding with the structural separation of MTN Mobile Money (U) Limited from the core telecom business,” Yego said.
“This move is intended to enhance operational efficiency, attract targeted investment, and better position the fintech business for future opportunities.”
The company will hold an Extraordinary General Meeting (EGM) for shareholders on July 27, 2025, where the formal proposal for the separation will be tabled. Upon approval, MTN MoMo will seek the green light from the Bank of Uganda, the Capital Markets Authority, and other relevant regulators.
Under the proposed structure, the fintech business will be transferred to a newly created entity called MTN New FinCo, which will operate independently of MTN Uganda. Post-separation, MTN Group Fintech will hold a 76.015 per cent stake in MTN New FinCo, while a trust will manage the remaining 23.985 per cent on behalf of MTN Uganda’s minority shareholders — mirroring the current ownership structure in the telecom.
The structural separation is also expected to attract strategic investors and technology partners to the MTN Group Fintech platform, enabling the business to scale up its innovation capabilities, infrastructure, and market reach.
Yego emphasized that the move is aligned with MTN’s ambition to become Africa’s leading fintech platform, offering a wide range of digital financial services beyond traditional mobile money.