WATCH THE VIDEO HERE Top African telecommunication company, MTN Group, will focus on core markets including Nigeria as it concluded the sale of its MTN Guinea-Conakry business to the Guinean government. According to MTN Group President and CEO, Mr Ralph Mupita, the development is a significant milestone for MTN Guinea-Conakry. “MTN Group Limited announces the conclusion of the sale of its operations in Guinea, to the State of Guinea, on 30 December 2024,” the MTN Group said. “This milestone marks a new phase for MTN Guinea-Conakry under local ownership,” added Mr Mupita. He said the sale also aligns with the company’s strategy to simplify its portfolio and allocate capital to markets where it can make a meaningful impact and ensure long-term growth and returns. Mr Mupita said the company is evaluating its portfolio as it narrows its focus and resources to core markets, including MTN Nigeria and MTN Ghana, its biggest West African assets. MTN has the largest share of the Nigerian telecommunication markets and has been at the forefront of adopting and expanding the country’s 5G services, where it has almost 80 per cent of the market. In May 2023, the company revealed that it was in advanced talks with the Axian Group regarding selling some of its West African markets, including MTN Guinea-Conakry. It noted that the deal wasn’t finalised, and there was no guarantee it would proceed. Then, in March 2024, the company announced that the Telecel Group had bought two West African units, Guinea-Bissau and Guinea-Conakry. At the time, Telecel Group CEO, Mr Moh Damush said the African-focused telecoms company is buying MTN’s debt and equity in the regions. He didn’t disclose the size of the acquisitions. MTN operates in 19 countries in the region and has already exited certain Middle Eastern businesses such as Afghanistan, Yemen and Syria.
MTN Commits to Core Markets in Nigeria, Ghana After Guinea Assets Sale
