MTN Group has announced the completion of the sale of its operations in Guinea to the government of Guinea, signifying its final exit from the market.
As stated by the Group, the transaction was finalized on December 30, 2024.
MTN indicated that this sale is in line with its strategy of portfolio optimization and simplification, which is part of its Ambition 2025 initiative.
The decision to exit the Guinea market was based on MTN’s evaluation of how well the operations fit within its risk management framework.
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Commenting on the sale of the business, MTN Group President and CEO, Ralph Mupita, stated:
“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.
“Concluding this transaction is in line with the strategy to simplify the portfolio and allocating capital to markets where we can make a difference as MTN and deliver long-term growth and returns.”
In an August 2024 media briefing in Johannesburg, Mupita discussed the group’s reasoning behind the divestiture of its operations in Guinea-Conakry and Guinea-Bissau.
He explained that the group assesses each market’s capacity to sustain its own growth over time. He stated that when a business is unable to fund its growth sustainably for any reason, it becomes necessary to evaluate its fit within the portfolio.
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Mupita acknowledged that these decisions are challenging, as they affect employees, but emphasized their necessity. For Guinea-Conakry and Guinea-Bissau, the group concluded that, despite potential revenue or profit growth, MTN was not the most suitable owner for these operations.
