The approval came on April 30, 2026. MTN Group Fintech B.V. will acquire 60 percent control of MoMo Payment Service Bank (PSB) and Y’ello Digital Financial Services (YDFS). MTN Nigeria will retain a 40 percent stake in the newly formed Financial Holding Company.

This restructuring is designed to protect MTN Nigeria’s core telecom business by removing fintech losses from its consolidated accounts. The transaction received an independent review by KPMG, which valued the fintech businesses at N95.5 billion.

Key facts:

• The spin-off is part of MTN Group’s broader “Ambition 2030” strategy across Africa.
• The new structure aims to attract strategic fintech investors.
• The transaction is expected to be completed by December 31, 2026.

MTN Nigeria’s fintech operations have faced challenges due to heavy spending on various operational aspects, leading to a loss-making phase. The restructuring also addresses regulatory overlaps between telecom and financial regulation.

Following shareholder approval, MTN will begin final legal, regulatory, and structural processes. This step is crucial for attracting capital injection for future expansion in the competitive fintech market.

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Africa, home to approximately 19% of the world’s population, currently possesses only 0.6% of the global data center and computing capacity. This stark contrast highlights a significant gap in the region’s technological infrastructure. Experts predict that demand for data center capacity on the continent will rise to two gigawatts by 2030, necessitating at least $10 billion in investment to meet this projected demand.

The combined installed capacity of Africa’s top five markets is under 500 MW, a figure that underscores the urgency for expansion. Notably, MTN Nigeria has taken steps to address this issue, completing the first phase of its $235 million data center and cloud infrastructure project in 2025.

As the digital economy in Nigeria flourishes, with over 107 million internet users contributing an estimated 20% of GDP from the digital sector, the need for robust cloud services becomes increasingly apparent. However, the regulatory framework governing data centers and cloud services in Nigeria is complex and multi-faceted, requiring compliance with data localization principles overseen by the National Information Technology Development Agency (NITDA).

Kashifu Abdullahi, a prominent figure in Nigeria’s digital landscape, emphasized the critical role of cloud technology, stating, “If digital is a lifestyle to us, then cloud is the oxygen to sustain it.” His assertion reflects a growing consensus that without significant investment in cloud infrastructure, Africa’s digital ambitions may falter. Abdullahi further remarked, “We cannot survive without the cloud; we need to cloudify Africa,” highlighting the urgency of the situation.

Industry leaders like Adil Al Youssefi have pointed out that collaboration among African nations is essential. He stated, “Fifty-four African countries cannot build individually. But we also cannot import the solutions from outside,” indicating the need for localized solutions and investments. Abderrahmane Mounir echoed this sentiment, stressing that governments must invest to support the development of cloud infrastructure in their countries.

As the continent grapples with these challenges, the path forward remains uncertain. While the potential for growth in Africa’s cloud infrastructure is immense, the necessary investments and regulatory frameworks must be established to support this evolution. Details remain unconfirmed regarding the exact timeline and scale of these developments, but the urgency for action is clear.

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