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MTN Group has finalized its exit from the Guinea market, transferring operations to the State of Guinea in a transaction completed on December 30, 2024. This divestment aligns with MTN’s Ambition 2025 strategy, which emphasizes streamlining its portfolio and focusing on markets with stronger growth potential.
In a statement, Ralph Mupita, President and CEO of MTN Group, highlighted the strategic rationale behind the decision. “This milestone ushers in a new era for MTN Guinea-Conakry under local ownership. We are deeply grateful to our employees, customers, regulators, and stakeholders in Guinea for their support throughout our time in the country,” Mupita said.
Strategic Portfolio Optimization
MTN’s departure from Guinea is part of a broader effort to evaluate and optimize its portfolio. The company determined that, despite some growth opportunities, markets like Guinea and Guinea-Bissau did not align with its long-term objectives.
“Even with observed growth, we had to evaluate whether we were the best fit as owners of these businesses,” Mupita noted in an earlier interview. He emphasized that the move reflects MTN’s deliberate strategy to simplify operations and allocate resources to markets offering greater potential for returns.
A Step Toward Ambition 2025
MTN first announced its intentions in December 2023, signing an agreement with Telecel Group to divest its stakes in both Guinea-Conakry and Guinea-Bissau for a nominal fee of $1. The sale of MTN Guinea-Bissau was finalized earlier in 2024, with the Guinea-Conakry deal reaching completion at the end of the year.
This transition allows MTN to concentrate on high-potential markets, reinforcing its commitment to delivering sustainable value and achieving the goals outlined in its Ambition 2025 strategy.
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