MTN has sold its Guinea operations to the State of Guinea, finalising the deal on December 30, 2024, as part of its strategy to focus on high-performing markets.
MTN Group Limited has sold its Guinea business, MTN Guinea-Conakry, to the State of Guinea, completing the deal on December 30, 2024.
This decision aligns with MTN’s strategy to simplify its portfolio and concentrate on markets offering the most potential for long-term growth and returns. Consequently, the company is refocusing its efforts on stronger markets.
MTN Group’s president and CEO, Ralph Mupita, said: “This milestone marks a new phase for MTN Guinea-Conakry under local ownership.
“We thank the staff, customers, regulators, and all stakeholders in Guinea for their support during our time in the country”.
The sale follows months of negotiations.
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In May 2023, MTN announced it was in advanced talks with the Axian Group to sell some West African operations, including MTN Guinea-Conakry.
By August, MTN confirmed that Telecel Group Mobile had acquired MTN Guinea-Bissau (Spacetel), further reshaping its portfolio.
MTN has faced challenges in 2024, with service revenue dropping by 18.5 per cent to 127.37 billion rands in the first nine months.
As a result, the company has focused its efforts on key markets, particularly Nigeria and Ghana, its largest assets in West Africa.
MTN has also exited several Middle Eastern markets, including Afghanistan, Yemen, and Syria.
Ultimately, this sale highlights MTN’s ongoing commitment to strengthening its position in high-growth regions, ensuring the company’s future success and long-term sustainability.
