MTN Group, one of Africa’s largest telecommunications companies, has sold its subsidiary in the Republic of Guinea, also known as Guinea-Conakry, to the government.
In a statement on Thursday, the telecom giant announced that the transaction was concluded on December 30, 2024, marking MTN’s complete exit from the West African country.
The sale aligns with MTN’s ‘Ambition 2025’ strategy, which focuses on portfolio optimisation and simplification to allocate resources to markets with stronger long-term growth potential.
“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 the support during the time MTN has been operational in the country,” said Ralph Mupita, MTN Group President and Chief Executive Officer (CEO).
“Concluding this transaction is in line with the strategy to simplify the portfolio and allocate capital to markets where we can make a difference as MTN and deliver long-term growth and returns,” Mupita added.
