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MTN to Spin Off Fintech Business to Pave Way for Mastercard Deal - BLOOMBERG

MARCH 17, 2025

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MTN Group Ltd. plans to spin off its financial technology operations in three key markets during the first half of the year as part of a reorganization that will allow Mastercard Inc. to buy a minority stake in the high—growth units.

The Johannesburg-based telecommunications company must separate fintech units in Ghana, Nigeria and Uganda as part of a process to complete a deal it struck in 2023 with Mastercard, Chief Executive Officer Ralph Mupita told Bloomberg on Monday.

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