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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