A Ghana Fintech Has Taken MTN to Court Over Mobile Money IP

MTN Ghana says it’s contesting a lawsuit filed by financial technology company Clydestone Ghana, which alleges the telecom operator used intellectual property developed for the launch of its mobile money business without authorization or compensation.

The case, filed in the Commercial Division of the High Court in Accra, names MTN Ghana (Scancom PLC), its parent MTN Group Ltd and MobileMoney Fintech Ltd as defendants.

MTN Ghana said it had been served with a writ of summons and statement of claim by Clydestone.

“The claim relates to Clydestone Ghana PLC’s alleged role in the initiation of mobile money services in Ghana and concerns matters said to date back almost twenty years,” MTN said in a statement.

In a filing published by the Ghana Stock Exchange, Clydestone said the lawsuit stems from its claim that proprietary intellectual property, confidential commercial information and operational methodology developed during a commissioned engagement in 2007 were used by MTN without authorization or compensation.

“The relief sought includes declarations, damages, equitable remedies, and such further orders as the Court considers appropriate,” Clydestone said.

MTN Ghana said it “does not accept the claims made, considers them without merit, and will contest the proceedings fully.”

The telecom operator said the legal proceedings would not affect its operations, financial performance or mobile money services, adding that it would not comment further while the matter is before the court.

Founded in 1989, Clydestone Ghana is a financial technology company listed on the Ghana Stock Exchange since 2004.

According to court documents outlined by Clydestone, MTN Ghana approached the company in 2007 to develop a commercial and operational framework for launching a mobile money business in Ghana as part of a commercial relationship dating back to 1998.

Clydestone said it produced a commercial model, operational architecture, implementation methodology and supporting business case.

“Clydestone contends that the work was commissioned on the understanding that the parties would execute a Non-Disclosure Agreement and Memorandum of Understanding governing its use,” it said.

The company alleges the agreements were never signed despite repeated requests and that MTN Ghana subsequently used its proprietary work, commercial methodology and operational intelligence without authorization or compensation.

Clydestone also alleges that elements of its operational architecture and commercial model were later implemented by MTN Mobile Money Ghana and deployed in other African markets.

“This case is about accountability for commissioned intellectual property,” Clydestone Founder and Group Chief Executive Paul Jacquaye said.

“MTN approached Clydestone, commissioned our work, and received the benefit of that work,” he added.

Jacquaye said the company decided to pursue legal action after publicly available information published in 2025 and 2026 revealed the scale of MTN’s mobile money business.

“When independent publications during 2025 and 2026 revealed the full extent of the [MTN] Mobile Money business we revisited every document relating to the original engagement. That review convinced our Board that these proceedings were both justified and necessary,” he said.

Clydestone cited the GSMA’s State of the Industry Report on Mobile Money 2026 and MTN Ghana’s 2025 annual report, which said the operator had 19.3 million active mobile money users at the end of 2025 and generated 6 billion Ghanaian cedis ($515.5 million) in annual mobile money revenue.

“These publications provided for the first time, amongst other things independently verifiable evidence of the full scale and commercial significance of what had been built on Clydestone’s proprietary foundation,” the company claimed.

Clydestone said the alleged unauthorized use of its work had continued since MTN Mobile Money Ghana launched in 2009.

“What has changed is not the nature of the wrong but the availability of independently verifiable information that for the first time publicly documents its full continental scale and commercial significance,” it added.

Stay ahead of the Stories shaping our world. Subscribe to Impact Newswire and join our 
WhatsApp Channel for updates on global tech, business, and innovation—all in one place.

Dive deeper into the future with the Cause Effect 4.0 Podcast, where we explore the ideas, trends, and technologies driving the global AI conversation.

Got a story to share? Contact Us to reach a global audience with Impact Newswire.