MTN Exits Guinea, Sells Operations to State
South African telecommunications giant, MTN Group, has completed the sale of its Guinea operations to the State of Guinea, marking its official exit from the market. The transaction was finalized on December 30, 2024, as part of MTN’s ongoing efforts to streamline its portfolio and align with its Ambition 2025 strategy.
MTN Group’s President and CEO, Ralph Mupita, stated that the sale signifies a new phase for MTN Guinea-Conakry under local ownership. He expressed gratitude to the staff, customers, regulators, and all other stakeholders in Guinea for their support during MTN’s time in the country. Mupita emphasized that the sale aligns with the company’s strategy of simplifying its operations and focusing on markets with greater growth potential and long-term returns.
“The decision to conclude this transaction is in line with our strategy to simplify the portfolio and allocate capital to markets where we can make a real impact as MTN and deliver long-term growth,” said Mupita.
MTN’s exit from Guinea follows a broader review of the company’s portfolio. The group had previously decided to divest its operations in Guinea-Conakry and Guinea-Bissau, citing challenges with risk management and the inability of these smaller markets to sustainably fund their own growth. Mupita explained in August 2024 that these markets were not scalable enough for MTN’s long-term strategy, and despite potential revenue growth, the company concluded that it was not the best owner for these businesses.
“We looked at these markets and concluded that even if they tripled their revenue or profits, we were not the best owners for these businesses. Hence, we decided to engage with third parties,” Mupita said.
The sale marks the end of MTN’s operations in Guinea and is part of a broader strategy to optimize the company’s global presence, focusing on areas where it can achieve sustainable growth and maximize returns.
