Big Payout, Big Changes: MMMF Declares 30p Dividend, Endorses New Board
On the back of a strong first‑quarter performance, MobileMoney Limited (MMMF) has declared an interim dividend of 30 pesewas per share, payable to shareholders on June 18—an announcement management says reflects the company’s solid financial footing.
At the company’s maiden extraordinary general meeting held on Friday, shareholders approved the dividend payment, endorsed new directors for MMMF, and confirmed the appointment of Ernst & Young (EY) as external auditors.
Chief Executive Officer, Mr Shaibu Haruna, explained that the June payout is separate from the full‑year dividend, which will be determined and disbursed at year‑end.
Responding to a question from the Ghana News Agency, Mr Haruna highlighted a shift in the company’s dividend policy following MMMF’s split from MTN Ghana at the end of March 2026—an adjustment aimed at giving investors more frequent visibility into returns.
“Combined with a similar dividend declared by MTN Ghana for the same period, shareholders with stakes in both entities are set to receive a total payout equivalent to six pesewas per share across the two companies for the first quarter alone,” he said.
Mr Haruna reaffirmed MMMF’s commitment to innovation within Ghana’s mobile money ecosystem, promising enhanced customer experiences as the company rolls out new services.
Touching on digital finance risks, he stressed the company’s dedication to combating fraud and protecting customer funds through intensified public education and collaboration with ecosystem partners.
“We recently released a white paper on digital fraud, reflecting how critical this issue is for us and for the industry at large,” he added.
On the appointment of new directors, the CEO said the decision ensures continuity and strengthens the company’s long‑term growth strategy.
Chief Finance Officer, Mrs Antoinette Kwofie, noted that with the separation completed in March 2026, MMMF now has its own shareholder base, distinct from MTN Ghana’s.
She explained that the board applied a standard evaluation methodology to assess the performance of directors and the external auditor—an accountability mechanism consistently used over the years. EY, she said, was selected for its proven ability to deliver value to both management and shareholders.
Mrs Kwofie thanked shareholders for their support during the transition, describing the meeting as an opportunity to align everyone behind the company’s new structure and strong start to the financial year.
The six individuals approved by shareholders—pending Bank of Ghana clearance—are:
- Modupe Kadri, Non‑Executive Director
- Mr Serigne Dioum, Non‑Executive Director
- Mr Adekunle Benjamin Awobodu, Non‑Executive Director
- Mrs Antoinette Kwofie, Non‑Executive Director
- Ms Susan Yawson, Non‑Executive Director
- Mrs Bashirat Odunewu, Independent Non‑Executive Director