MTN Ghana has formally responded to the legal action initiated by Clydestone Ghana PLC, rejecting the allegations and vowing to contest the proceedings fully, according to a regulatory filing submitted to the Ghana Stock Exchange.
In a market announcement to the Ghana Stock Exchange (GSE) dated July 30, 2026, Scancom PLC (MTN Ghana) acknowledged that it had been served with the writ of summons and statement of claim filed by Clydestone Ghana PLC on July 27, 2026.
The claim, which also names MTN Group Limited and MobileMoney Fintech LTD as defendants, relates to Clydestone’s alleged role in the initiation of mobile money services in Ghana and concerns matters said to date back almost twenty years.
“MTN Ghana does not accept the claims made, considers them without merit, and will contest the proceedings fully,” the statement said.
However, MTN Ghana stated that it will not comment further on the substantive issues raised in the claim while the matter is before the court.
The company assured all its stakeholders that the proceedings do not affect its operations, services, performance, results, or the Mobile Money services that MobileMoney Fintech LTD operates.
“MTN Ghana will continue to comply with all applicable disclosure obligations and will notify shareholders and the market of any material developments in accordance with the Listing Rules,” the statement added.
The announcement was signed by Chief Executive Officer of MTN Ghana, Stephen Blewett.
Clydestone Ghana Plc, a technology company listed on the Ghana Stock Exchange, filed the writ of summons and statement of claim on July 27, 2026, in the Commercial Division of the High Court in Accra.
The case relates to work Clydestone claims MTN commissioned it to undertake in 2007, when it was engaged to develop a comprehensive commercial and operational framework for launching a mobile money business in Ghana.
Clydestone is seeking declarations, damages, equitable remedies and further orders as the court considers appropriate.
