MTN Group will acquire 60% of the fintech activities of its subsidiary MTN Nigeria for approximately 60 million USD. This acquisition marks a significant shift in MTN’s strategy to enhance digital financial services.
Before this development, MTN focused on strengthening its position in mobile money, particularly through its MoMo platform. The company had previously increased its stake to 100% after buying back shares held by a minority investor. However, the fintech landscape in Nigeria has evolved rapidly, prompting MTN to reconsider its approach.
The decisive moment came when MTN announced the acquisition. The operation involves a capital injection of approximately 152 billion nairas (or 95 million USD). After the acquisition, MTN Nigeria will retain 40% of the fintech entities.
This move directly affects various stakeholders. Ferdi Moolman, CEO of MTN South Africa, has seen his total remuneration include long-term incentives (LTIs) exceeding R14 million in 2025. His earnings during his two months as CEO amounted to R1.93 million.
Moreover, MTN Ghana recently hosted its first Digital Music Conference on April 29, 2026. The conference aimed to address how artists can earn sustainable income in the digital age. It emphasized the need for better music registration processes and stronger collaboration among industry players.
The active users driving trends in music consumption are largely between the ages of 13 and 24. Yet, despite millions having access to MTN’s platforms, adoption remains low. As Bless Sefenu Agordzor stated, “MTN does not see artistes as content suppliers, but as partners.” This partnership approach is crucial for artists struggling to translate visibility into meaningful income.
The conference also highlighted that many musicians lack understanding of publishing or the types of royalties that exist. Diana Hopeson remarked on the importance of proper music registration: “The most important thing is for the song to be well registered so that wherever it is played, the money can be traced back to the right owners.” Bessa Simons added that many artists are gaining visibility but struggling with consistent income.
This acquisition aligns with MTN’s goal to double the number of artists on its digital platforms while enhancing overall revenue streams through fintech services and digital music initiatives.
