MTN Group has completed the sale of its operations in Guinea to the State of Guinea, marking its official exit from the country. The transaction, finalized on December 30, 2024, is part of MTN’s Ambition 2025 strategy, which focuses on portfolio optimization and simplification.
MTN Group President and CEO Ralph Mupita commented on the deal, expressing gratitude to the company’s stakeholders in Guinea and describing the sale as part of MTN’s long-term growth strategy. “This milestone marks a new phase for MTN Guinea-Conakry under local ownership,” Mupita said. “Concluding this transaction is in line with the strategy to simplify the portfolio and allocate capital to markets where we can deliver long-term growth and returns.”
The decision to exit the Guinea market followed MTN’s assessment of its portfolio within its risk management framework. Speaking in August 2024, Mupita explained that smaller, subscale markets like Guinea-Conakry and Guinea-Bissau presented sustainability challenges. “Even if they triple their revenue or profits, are we the best owners of these businesses? And the answer was no,” he stated.
In 2023, MTN signed a sale and purchase agreement with Pan-African operator Telecel, agreeing to transfer its equity in both Guinea-Conakry and Guinea-Bissau for $1 each. The deal included the assumption of net liabilities by Telecel. While the Guinea-Bissau operations were sold to Telecel in mid-2024, Guinea-Conakry was ultimately sold to the State of Guinea.
