MTN Group has announced the sale of its subsidiary in the Republic of Guinea to the government, marking the company’s final exit from the West African country.
The transaction, which was concluded on December 30, 2024, is in line with MTN’s strategy of portfolio optimization and simplification, as outlined in its ‘Ambition 2025’ plan.
According to Ralph Mupita, MTN Group President and CEO, the sale marks a new phase for MTN Guinea-Conakry under local ownership. Mupita expressed gratitude to the staff, customers, regulators, and stakeholders in Guinea for their support during MTN’s operational tenure in the country.
The decision to dispose of MTN’s operations in Guinea-Conakry and Guinea-Bissau was based on the company’s evaluation of each market’s ability to sustainably fund its growth. Mupita emphasized that MTN prioritizes allocating capital to markets where it can drive long-term growth and returns.
