Johannesburg – MTN Group Limited (MTN) has completed the transfer of its operations in Guinea to the government of the country.
In a press release dated New Year’s Eve, MTN announced that the sale of its Guinea operations (commonly 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 move is part of its ongoing strategy to streamline and optimize its portfolio, in line with the Ambition 2025 initiative.
Ralph Mupita, the President and CEO of MTN Group, remarked: “This milestone marks a new era for MTN Guinea-Conakry under local governance. We express our heartfelt thanks to the employees, customers, regulators, and the broader community in Guinea for their support throughout MTN’s time in the country.”
“Completing this transaction aligns with our strategy of simplifying our portfolio and redirecting capital to markets where we can make a significant impact as MTN, while also promoting sustainable growth and returns.”
Earlier this year, in August, Mupita mentioned during an Editors Roundtable held in Johannesburg that MTN was moving forward with plans to exit certain West African markets deemed too risky or not capable of sustaining their own growth.
Established in 1994, MTN stands as a leading operator in emerging markets, with a strong vision to pioneer the provision of an innovative digital landscape for our customers.
MTN is also listed on the JSE Securities Exchange in South Africa.
