MTN Group has finalized the sale of its subsidiary in Guinea-Conakry to the government, marking the company’s exit from the West African country.
The deal, which was concluded on December 30, 2024, is part of MTN’s ongoing efforts to simplify its business portfolio and focus on markets with stronger growth potential.
In a statement, MTN clarified that the decision to sell the subsidiary was in line with its broader “Ambition 2025” strategy, which aims to streamline operations and optimize the allocation of resources.
MTN Group’s CEO, Ralph Mupita, shared that the sale represents the company’s complete withdrawal from Guinea-Conakry, and he expressed gratitude toward the country’s employees, customers, and regulators for their support during MTN’s years of operation.
MTN had previously signaled its intention to exit Guinea-Conakry and Guinea-Bissau in 2024, with Mupita explaining that the company continuously assesses the sustainability of each market’s growth potential.
As part of its global portfolio evaluation, MTN decided to sell off businesses that could no longer support sustainable growth.
The sale of the Guinean subsidiary is expected to help MTN allocate capital more effectively in markets where it sees stronger prospects for long-term success.
The exit from Guinea-Conakry concludes a chapter for MTN in the country, which will now see the subsidiary under local ownership, paving the way for new developments and opportunities under government control.
