MTN Group, a pan-African operator, has declared that on the 30th of December, 2024, the sale of its MTN Guinea-Conakry business to the State of Guinea was completed.
MTN claims that this deal is in line with its goal of streamlining and optimising its portfolio as part of Ambition 2025, a strategy centred on creating the biggest and most valuable platform company with a distinct emphasis on Africa.
According to many quotes, Ralph Mupita, the president and CEO of MTN Group, said: “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 their 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,” the MTN Group CEO added.
Also read: https://brandspurng.com/2025/01/03/geopolitics-in-business-effects-on-employees-organizations/
The sale’s closing isn’t particularly shocking since media outlets have previously reported on ongoing conversations in November 2023 about MTN’s possible “orderly exit” from its operations in Guinea-Bissau, Guinea-Conakry, and Liberia.
BrandSpur telecom and IT news desk report that at that point, MTN had successfully sold MTN Afghanistan, signalling the company’s departure from the Middle East. ITWeb Africa claims that Mupita really told investors and markets in April 2024 that MTN’s goal was to “streamline and restructure” its business.
However, in August of last year, MTN Group sold its Guinea-Bissau business unit to Telecel. In Liberia, it is still present.
