Johannesburg – The MTN Group Limited (MTN) has concluded the sale of its operations in Guinea to that country’s government.
In a New Year’s Eve press release, MTN announced that it had concluded the sale of its operations in Guinea (also known as MTN Guinea-Conakry), to the State of Guinea, on 30 December 2024.
MTN said the transaction aligns with the portfolio optimisation and simplification focus that is part of the Ambition 2025 strategy.
MTN Group President and CEO, Ralph Mupita, stated: “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.
“Concluding this transaction is in line with the strategy to simplify the portfolio and allocating capital to markets where we can make a difference as MTN and deliver long-term growth and returns.”
Earlier this year in August, Mupita told an Editors Roundtable held in Johannesburg that MTN was moving forward with plans to exit certain West African markets that were deemed too risky or not able to fund their own growth.
Launched in 1994, MTN is a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our customers.
MTN is listed on the JSE Securities Exchange in South Africa.
