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MTN Group to sell fintech stake to Mastercard in Ghana, Uganda, Nigeria

Oluwatosin Adeyemi by Oluwatosin Adeyemi
March 18, 2025
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MTN Group to sell fintech stake to Mastercard in Ghana, Uganda, Nigeria
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According to MTN Group, it plans to split off its financial technology (fintech) operations in Ghana, Uganda, and Nigeria in the first half of 2025. This move is part of a larger restructuring effort aimed at allowing Mastercard Inc. to acquire a minority stake in MTN’s rapidly growing fintech businesses.

MTN CEO Ralph Mupita shared this information in an interview with Bloomberg on Monday. The spin-off is part of a deal MTN initiated with Mastercard in 2023.

Nigeria’s spin-off regulatory complexities 

Ghana and Uganda have more developed spin-off procedures, although Nigeria’s complex regulations present a hurdle to the telecom group.

Nigeria has “a bit more complexity with some more regulatory processes to work through,” according to Mupita.

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MTN reaffirmed commitment to completing the restructuring in all three markets in spite of these obstacles.

MTN is exploring network-sharing agreements in addition to its fintech goals, following a trend that is already common in European markets. The business may be able to reduce infrastructure expenses and enhance service quality with this tactic.

Read also: MTN Rwanda reports 261.6 billion Rwf in total revenue for 2024 despite decline in data users

The agreement between MTN and Mastercard 

As part of the agreement with Mastercard, MTN’s fintech division is valued at $5.2 billion, and Mastercard is set to purchase up to $200 million in minority stakes.

The commercial agreement between the two companies was signed in 2023, and MTN announced it was seeking strategic minority investors to accelerate its fintech operations in payments and remittances.

“MTN and Mastercard also signed a memorandum of understanding which provides for a minority investment by Mastercard into Group Fintech based on a total enterprise valuation of about US$5.2 billion for the business on a cash and debt-free basis,” a statement announcing the investment said.

“The signing of the definitive investment agreements is expected to occur in the very near term as we approach the finalisation of customary due diligence. The closing of the investment will be subject to customary closing conditions,” it added.

Tags: MTN
Oluwatosin Adeyemi

Oluwatosin Adeyemi

Oluwatosin Adeyemi is a seasoned writer with 5+ years of experience. He holds a degree in Animal Science from Olabisi Onabanjo University. A hardworking and creative individual with a passion for teamwork and self-improvement.

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