MTN Group, Africa’s largest telecom operator, has finalised the sale of its Guinea operations to the State of Guinea, concluding its presence in the West African nation. The transaction was completed on December 30, 2024, aligning with MTN’s Ambition 2025 strategy, which emphasises portfolio optimisation and simplification.
Ralph Mupita, MTN Group President and CEO, remarked, “This milestone marks a new phase for MTN Guinea-Conakry under local ownership, and MTN thanks the staff, customers, regulators, and broader stakeholders in Guinea for the support during the time MTN has been operational in the country.” He further noted that the decision is in line with MTN’s strategy to “simplify the portfolio and allocate capital to markets where we can make a difference as MTN and deliver long-term growth and returns.”
MTN’s exit from Guinea is part of a broader trend of divestments in underperforming or non-core markets. Earlier in 2024, the company completed the sale of its operations in Guinea-Bissau to Telecel, a move also aimed at streamlining its portfolio.
The Ambition 2025 strategy focuses on leading digital solutions for Africa’s progress by harnessing MTN’s brand, infrastructure, and technology platforms. This includes increasing local ownership in key markets and exiting those where MTN sees limited potential for long-term growth.
MTN’s strategic realignment comes amid financial challenges, including a half-year loss reported in August 2024, attributed to currency devaluation in Nigeria and operational difficulties in Sudan. Despite these setbacks, MTN has successfully raised 21.7 billion rand through non-core asset sales, nearing its target of 25 billion rand by next year.
The sale of MTN Guinea-Conakry to the State of Guinea reflects a growing trend of African governments seeking greater control over their national telecommunications infrastructure. For consumers and businesses in Guinea, this transition could lead to changes in service delivery and market dynamics. It’s essential for stakeholders to stay informed about how this shift may impact the telecom landscape in the country.
In conclusion, MTN’s divestment from Guinea underscores its commitment to focusing on markets where it can drive substantial growth and deliver value to shareholders. As the company continues to implement its Ambition 2025 strategy, further portfolio adjustments may be anticipated, shaping the future of telecommunications across the African continent.
