MTN has left Guinea and turned over management of the operations to locals.
MTN Group’s strategic move towards risk management and portfolio optimization has resulted in the official exit from the Guinean market, with activities now being conducted in the State of Guinea.
In a statement, the telecom behemoth said that the deal was completed on December 30, 2024.
The move fits in with MTN’s overarching Ambition 2025 strategy, which places a high priority on streamlining its holdings and concentrating on areas that provide long-term profits and sustainable growth.
Ralph Mupita, president and CEO of the MTN Group, reflected on the changeover, saying, “This milestone marks a new phase for MTN Guinea-Conakry under local ownership.”
We express our gratitude to the employees, clients, authorities, and interested parties for their steadfast support during our stay in the nation.
We can focus resources where we can make a big difference and expand by streamlining our portfolio.
Mupita earlier gave a media briefing in Johannesburg in August 2024 outlining the reasons behind MTN’s departure.
He emphasized the difficulties presented by smaller, subscale markets that find it difficult to sustainably finance their own expansion.
We evaluate each market according to its capacity for self-funded expansion. If it doesn’t fit that requirement, we assess if it fits with the goals of our portfolio.
We concluded that MTN was not the appropriate long-term owner for Guinea-Conakry, notwithstanding possible gains in revenue or profit, Mupita said.
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