MTN Group Exits Guinea Market, Transfers Operations to Local Ownership

MTN Group has officially concluded the sale of its operations in Guinea to the State of Guinea, marking its exit from the market. The deal, finalized on December 30, 2024, aligns with MTN’s Ambition 2025 strategy, which prioritizes portfolio optimization and market simplification.

In a press release, Ralph Mupita, MTN Group President and CEO, explained that the divestment reflects the company’s focus on concentrating resources in markets with greater potential for sustainable growth and impact.

“This milestone marks a new phase for MTN Guinea-Conakry under local ownership. MTN extends its gratitude to the staff, customers, regulators, and broader stakeholders in Guinea for their support during our time in the country,” Mupita stated.

MTN’s exit from Guinea comes as part of a broader portfolio evaluation process. The company determined that despite some growth potential, markets like Guinea and Guinea-Bissau were not optimal for achieving its long-term strategic goals.

“Even if we saw growth, we had to ask if we were the right owners of these businesses,” Mupita remarked in an earlier interview. He added that the transaction is part of a deliberate effort to simplify MTN’s portfolio and reallocate capital to markets offering better prospects for growth and returns.

In December 2023, MTN signed an agreement with Telecel Group to sell its interests in both Guinea-Conakry and Guinea-Bissau for a nominal fee of $1. While the sale of the Guinea-Bissau operations was finalized earlier in 2024, the Guinea-Conakry deal was only completed in December.

This move allows MTN to sharpen its focus on markets with more substantial growth opportunities, reinforcing its commitment to delivering long-term value as outlined in its Ambition 2025 strategy.