The sale of MTN Group's Guinea Conakry operations has been finalized. The transaction, which was finalized on December 30, 2024, is consistent with the company's plan to streamline its holdings and allocate capital to nations where it can exert influence, guarantee sustained expansion, and generate profits. The move, according to reports, signals a new phase for MTN Guinea-Conakry under local ownership, according to Ralph Mupita, president and CEO of the telecom company. He expressed his gratitude to the nation's employees, clients, authorities, and other stakeholders for their assistance throughout its activities. MTN said in May 2023 that it was in negotiations with Axian Group to sell parts of its West African territories, including MTN Guinea-Conakry, but that the deal was not yet finalized, according to BusinessDay.
The firm announced in August that MTN Guinea Bissau had been acquired by Telecel Group Mobile. The business has been having trouble making money in 2024; in the first nine months of last year, service revenue fell 18.5% to 127.37 billion rand. The company has been focusing its resources and efforts on its core markets, which include MTN Ghana and MTN Nigeria, which are its largest markets in West Africa. With the exception of a few Middle Eastern companies in Afghanistan, Yemen, and Syria, the telecom operates in 19 African nations.