MTN exist operation, sells Guinea subsidiary

GUINEA – MTN Group has sold its sub­sidiary in the Republic of Guinea to the government.

The telecommunications company (telco), in a state­ment, said the sale was con­cluded on December 30, 2024.

MTN said the transac­tion aligns with its focus on portfolio optimisation and simplification, as part of the ‘Ambition 2025’ strategy.

MTN Group president and chief executive officer (CEO), Ralph Mupita, while commenting on the sale of the business, said the development marked its final exit from the market.

“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,” Mupita said.

“Concluding this transac­tion is in line with the 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.”

Mupita in August 2024 explained the group’s ratio­nale for disposing of oper­ations in Guinea-Conakry and Guinea-Bissau, saying that MTN evaluates each market’s ability to fund its growth sustainably.

The CEO said the mo­ment a business cannot sus­tainably fund its growth for whatever reason, the telco has to assess the portfolio