Business
MTN Nigeria Approves Bold N152bn Fintech Stake Sale
MTN Nigeria fintech stake sale sees company plan to sell 60% of MoMo and Y’ello Digital for N152bn under strategic restructuring deal
MTN Nigeria Communications Plc on Wednesday announced plans to sell a 60 per cent stake in its fintech subsidiaries, MoMo Payment Service Bank and Y’ello Digital Financial Services, in a N152.06 billion transaction involving its parent company, MTN Group.
Also read: MTN, BOI Launch N1bn Fund to Empower Women
Sale of MTN Nigeria Fintech Stake Announced proposal was disclosed in an information document issued to shareholders ahead of the company’s Annual General Meeting scheduled for April 30, 2026, where approval for the deal will be sought.
Under the arrangement, MTN Group, through MTN Group Fintech B.V., will assume majority ownership of the subsidiaries, while MTN Nigeria retains a 40 per cent equity interest.
The transaction forms part of MTN Group’s long-term “Ambition 2030” strategy, which seeks to strengthen its position across connectivity, digital finance and infrastructure services in Africa.
According to the company, the deal will be executed through a combination of fresh capital injection into the fintech businesses and a secondary share acquisition from MTN Nigeria.
The assets will later be consolidated under a new holding structure to be registered with the Central Bank of Nigeria, establishing a 60:40 ownership model between MTN Group Fintech and MTN Nigeria.
An independent fairness opinion issued by KPMG valued the transaction at N95.5 billion, describing it as fair and reasonable, and indicating a 2.1 times premium over the subsidiaries’ carrying value as of December 2025.
MTN Nigeria stated that the restructuring is necessary due to the capital-intensive nature of its fintech expansion, adding that the new structure will allow increased investment from MTN Group to support growth in Nigeria’s digital financial services space.
The company also said the move will enable it to strengthen its core telecom operations, improve service delivery, and enhance shareholder returns, while maintaining indirect exposure to fintech through its remaining stake.
It further noted that the subsidiaries are currently operating at a loss, adding that the separation is expected to improve overall financial performance and boost free cash flow in the medium term.
Also read: MTN, BOI Launch N1bn Fund to Empower Women
If approved, completion of the transaction is expected by December 31, 2026, subject to regulatory and legal approvals.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
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