MTN Group, the leading telecommunications operator in Africa, has accepted an undisclosed offer from Telecel, an Africa-focused telecom service, to sell its equity interests in MTN Guinea-Bissau and Guinea-Conakry. This strategic move signals MTN’s intention to exit smaller markets in the West and Central Africa (WECA) region.
The decision was disclosed in MTN’s 2023 financial report, where the company classified its Guinea-Bissau and Guinea-Conakry businesses as held for sale as of December 31, 2023. While the exact sale amount remains undisclosed, a spokesperson for MTN confirmed the sale but refrained from providing specific details.
According to the financial report, Telecel, an established telecom operator with a significant presence across Africa, is poised to drive the growth and development of these operations. The acquisition aligns with Telecel’s strategic objectives and is expected to contribute to technological advancement and economic progress in the respective markets.
This divestment enables MTN to streamline its focus on high-growth markets such as Ghana, Cameroon, and Cote d’Ivoire. These markets, collectively contributing 18.6% to the group’s revenue, offer stronger growth prospects compared to other WECA countries, which contribute only 7.3% to MTN’s overall revenue.
By concentrating its resources and efforts on key markets with greater revenue potential, MTN aims to optimize its operational efficiency and strengthen its position in the rapidly evolving telecommunications landscape of West and Central Africa.
