MTN Group, Africa’s largest network operator by subscriber base, has completed the sale of its Guinea-Conakry business to the Guinean government, a year after the assets were classified for purchase.
The deal, the value of which wasn’t disclosed, is part of MTN’s strategy to streamline its portfolio and focus on higher-growth markets. The company recently sold its Guinea-Bissau unit to Mexican telecom firm Telecel.
“This milestone marks a new phase for MTN Guinea-Conakry under local ownership,” said Ralph Mupita, MTN Group President and CEO in a statement on Tuesday.
“MTN thanks the staff, customers, regulators and broader stakeholders in Guinea for the support during the time MTN has been operational in the country.”
MTN has been grappling with revenue shortfalls in 2024 and is prioritising operations in key West and Central African countries such as Ghana, Cameroon, and Cote d’Ivoire, which together contribute nearly 19% to the group’s revenue. Other West and Central African (WECA) countries contribute a paltry 7.3% to the MTN group.
While Telecel lost the bid for Guinea-Conakry, the company remains active in African markets. The 38-year-old telco recently acquired a 70% stake in Vodafone Ghana and invests heavily in 4G network infrastructure.
