MTN Group has decided to exit its operations in Guinea-Bissau and Guinea-Conakry, citing these West African markets as too risky and unable to sustain their growth. The decision aligns with MTN's risk management framework, which assesses the viability of markets based on their ability to fund growth independently.
MTN's CEO, Ralph Mulita, explained that despite potential revenue increases, these markets are not considered suitable for MTN's portfolio. Consequently, the company has engaged with third parties interested in acquiring these operations.
Telecel Group has shown interest and has already acquired MTN's Guinea-Bissau operations. Both Guinea businesses were in net liability positions, which Telecel will assume. The sale of Guinea-Conakry is anticipated soon, although no specific timeline has been set.
MTN's strategic focus remains on markets where it can achieve scale and growth, such as Nigeria and Ghana while continuing to monitor other markets for potential divestment.
