South African mobile carrier MTN Group has finalized its exit from Guinea-Conakry.
The telco confirmed the sale of the unit to the State of Guinea on December 30, 2024.
In a statement, MTN said the deal "aligns with MTN's focus on portfolio optimization and simplification, as part of the Ambition 2025 strategy."
"This milestone marks a new phase for MTN Guinea-Conakry under local ownership, and MTN thanks the staff, customers, regulators, and broader stakeholders in Guinea for the support during the time MTN has been operational in the country," added MTN Group president and CEO, Ralph Mupita.
"Concluding this transaction is in line with the strategy to simplify the portfolio and allocating capital to markets where we can make a difference as MTN and deliver long-term growth and returns.”
The company's exit from the market follows that of its departure from Guinea-Bissau last year after it sold the unit to Telecel.
MTN previously noted that the two markets, Guinea-Bissau and Guinea-Conakry, contributed to less than 1.6 percent of its overall revenue.
The carrier serves close to 300 million people across 17 markets, including its home market in South Africa, Ghana, Nigeria, and Zambia.
