DailySun
Johannesburg – MTN Group Limited (MTN) has completed the transfer of its operations in Guinea to the government of the nation.
In a press release issued on New Year’s Eve, MTN announced that the sale of its operations in Guinea, also referred to as MTN Guinea-Conakry, was finalized on 30 December 2024, with ownership being transferred to the State of Guinea.
MTN emphasized that this transaction is a key part of its strategy to streamline and simplify its portfolio, in line with the Ambition 2025 initiative.
Ralph Mupita, President and CEO of MTN Group, stated: “This milestone marks a new phase for MTN Guinea-Conakry under local ownership. We extend our thanks to the employees, customers, regulators, and the broader community in Guinea for their support throughout MTN’s presence in the country.”
“The completion of this transaction is in alignment with our strategy to streamline our portfolio, allowing us to redirect capital to markets where we can generate significant impact as MTN, while promoting sustainable growth and returns.”
Earlier this year, in August, Mupita commented during an Editors Roundtable in Johannesburg that MTN was making progress on its plans to exit certain West African markets deemed too risky or unable to support their own growth.
Established in 1994, MTN is a leading operator in emerging markets, with a strong vision to innovate and enhance the digital landscape for our customers.
MTN is also publicly listed on the JSE Securities Exchange in South Africa.
