MTN Group completes the sale of its operations in Guinea to the Guinean government. The move aligns with MTN's strategy to simplify its portfolio and focus on key markets.
The MTN Group has concluded the sale of its MTN Guinea-Conakry business to the State of Guinea, the company announced in a statement. According to MTN Group President and CEO 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 president and CEO 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. The company had previously announced its plans to sell some of its West African markets, including MTN Guinea-Conakry, to the Axian Group. Then, in March 2024, the company announced that the Telecel Group CEO 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. Mupita is evaluating the company’s portfolio as it narrows its focus and resources on core markets, including MTN Nigeria and MTN Ghana, its biggest West African assets. MTN operates in 19 countries in the region and has already exited certain Middle Eastern businesses such as Afghanistan, Yemen and Syria
MTN Group Guinea-Conakry Sale Telecoms Portfolio Restructuring
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