MTN Group hopes to exit Afghanistan soon, with Guinea-Bissau, Guinea-Conakry and Liberia likely next to be sold.
to exit Afghanistan by the end of next month, a move that’s been coming for some time, with Guinea-Bissau, Guinea-Conakry and Liberia likely next in line to go.
“The process to exit Afghanistan is in the regulatory approval stages and remains on track to be finalised by year-end,” the telecommunications group said in its quarterly update for the period ending 30 September, released on Tuesday. Last August, it emerged that MTN had received a US$35-million binding offer for the Afghanistan business.
These changes will reduce the tally to five operating countries in the group’s West and Central Africa segment of its portfolio.The Weca region is mainly driven by key markets of Ghana, Côte d’Ivoire and Cameroon . The group has faced numerous challenges in the region, and as at the end of the 2022 financial year, Ebitda margin declined by 1.7 percentage points year on year to 33.1% due to pricing pressures, fintech channel subsidies and macroeconomic challenges, including local currency devaluations and higher inflation. –
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