Accra, Ghana//-Stakeholders of MobileMoney Fintech LTD (MMFL), MTN Ghana’s independent mobile payments firm, today, all the proposals tabled at the company’s second Extraordinary General Meeting (EGM) held virtually.
The proposals listed below were massively approved by the shareholders of MMFL, with MTN Dutch Holdings BV being the major shareholder (70%), and beneficiaries of the MTN Ghana Fintech Trust which holds a 30% minority economic stake.
The shareholders and beneficiaries voted almost unanimously all the following proposals at the 2nd EGM:
- To approve the appointment of the following as Directors of the Company, subject to Bank of Ghana (BoG) approval:
1.1 Modupe Kadri as a Non-Executive Director
1.2 Serigne Dioum as a Non-Executive Director
1.3 Adekunle Benjamin Awobodu as a Non-Executive Director
1.4 Mrs Antoinette Kwofie as a Non-Executive Director
1.5 Ms. Susan Yawson as an Executive Director
1.6 Mrs. Bashirat Odunewu as an Independent Non-Executive Director
- To approve dividends in the amount of GHS0.03 per share for the first quarter ending March 31, 2026.
- To authorise the Directors of the Company to declare and pay dividends for the second and third quarters of the 2026 financial year.
- To ratify the appointment of Ernst & Young (EY) as the External Auditor of the Company.
- To authorise the Directors of the Company to fix the remuneration of the External Auditor for the 2026 financial year.
These decisions, approved today by shareholders, would help to ensure that MMFL continue to operate with transparency, accountability and integrity to grow the business for the betterment of all.
Addressing the shareholders earlier, the Chairperson of the MMFL Board, Madam Victoria Bright, said theirs is a milestone worth celebrating, explaining that today’s meeting holds a special significance.
“It is our first general meeting since our shareholders and beneficiaries approved the merger of MobileMoney Limited (MML) and MMFL in December 2025”.
Post-merger
Since the completion of the merger, the board, according to its chairperson, has acted with purpose to ensure the seamless transition. Their overarching priority is to preserve continuity across all aspects of the business, governance, service delivery to their customers, and creation of value for all their shareholders.
In furtherance of that commitment, the board, Madam Bright noted, has nominated six directors to the MMFL Board from among the accomplished members of the former MML board.
Each of these directors, she indicated, has a proven track record, having served with distinction on the MML board and bringing in key institutional knowledge, a strong understanding of their business, and a shared commitment to the successful execution of MMFL’s mandate.
These director appointments were presented to the shareholders at the meeting for formal approval in accordance with the company’s constitution and the Companies Act of Ghana 2019.
The directors were unanimously approved by the shareholders, subject to Bank of Ghana (BoG) approval, the industry regulator.
Solid first-quarter performance
She also reported to the shareholders that the company delivered a solid first quarter performance in 2026, as a result, the board has recommended a dividend of GHS0.03 (3 pesewas) per share for the quarter ended 31st March 2026.
This represents a tangible return to shareholders, and reflects the financial discipline that will continue to guide MMFL management, Madam Bright said.
“Together with a first quarter’s dividend of GHS0.03 per share from MTN Ghana, this brings a total dividend of the first quarter of 2026 to GHS0.06 per share for shareholders and beneficiaries”.
Going forward, public companies intend to pay dividends quarterly rather than the usual half-yearly.
To improve cash flow to shareholders, the board sought the approval of the shareholders and also requested the shareholders’ authorisation to declare and pay dividends for the second and third quarters of this financial year, so that the board would continue to reward trust.
With respect to the external audit function, which is a cornerstone of accountability and transparency, the board has appointed Ernest $ Young (EY) as the company’s first external auditors.
EY’s reputation for rigour, independence, and professional excellence aligns fully with the standards the company has set for itself. The board therefore sought the gratification of the appointment together with authorisation for the board to determine external auditors (EY) remuneration.
Beginning of an exciting chapter
The foundation laid through the merger has strengthened the board, discipline, financial management and robust governance structures, giving the board every reason to approach the future with confidence and with conviction.
Madam Bright was emphatic that they remain steadfast in their commitment to financial inclusion, innovation and the delivery of meaningful value to every single shareholder and stakeholder who has placed confidence in the company.
MMFL CEO
The Chief Executive Officer of MobileMoney Fintech LTD, Shaibu Haruna, told journalists at the event that the company posted impressive financial results in the first quarter of 2026.
According to him, the company during that period generated a revenue of GHC1.7 billion, which was about 28.4% year-on-year increase. That amount he added translated into the interim GHC 0.03 dividend payout.
The merger, which was completed on the 31st of March 2026, has been described by industry watchers as the first and smoothest merger in the country’s fintech space.
The integration of MML, formerly MobileMoney Limited, into MMFL is now complete, and the company being MMFL is in a better position to pursue its next phase of growth.
