MTN Group, Africa’s largest telecommunications provider by subscriber base, has officially completed the sale of its Guinea operations (MTN Guinea-Conakry) to the government of Guinea.

The company announced the transaction, which was finalized on December 30, 2024, in a statement released on Thursday.

This move is part of MTN’s ongoing efforts to streamline its operations and focus on key markets, a strategy outlined in its Ambition 2025 plan.

Ralph Mupita, MTN Group President and CEO, hailed the transition as a significant milestone for the company.

“This marks a new chapter for MTN Guinea-Conakry under local ownership. We are deeply grateful to the staff, customers, regulators, and stakeholders in Guinea for their support throughout our journey in the country,” he said.

Mupita also emphasized that the decision aligns with MTN’s broader strategy of simplifying its portfolio and prioritizing markets where the company can achieve sustainable growth and returns.

During a media briefing in Johannesburg in August 2024, Mupita elaborated on the company’s exit from smaller markets.

“Some markets present unique challenges within our risk management framework, making it difficult for us to operate effectively.

These subscale markets are often unable to finance their own growth, and we are not the best long-term owners of such businesses,” he explained.

MTN first disclosed its intention to sell its stakes in Guinea-Conakry and Guinea-Bissau in a 2023 financial report.

The report revealed that MTN had accepted an offer from Telecel, an Africa-focused telecommunications operator, to acquire its interests in both markets.

Telecel, which has a strong presence across the continent, is seen as well-equipped to foster growth and technological development in Guinea-Conakry and Guinea-Bissau.

MTN’s report noted that the two businesses were officially classified as “held for sale” as of December 31, 2023.

This sale underscores MTN’s commitment to optimizing its portfolio while allowing local and regional players to spearhead innovation and development in smaller markets.