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Johannesburg – MTN Group, the leading telecom operator in Africa, is refocusing its strategy on high-growth markets, announcing the divestiture of its operations in Guinea-Bissau and Guinea-Conakry. The move, part of the company's strategic reorientation, was disclosed in its 2023 financial statements.

Telecel, a prominent telecom entity with widespread operations across Africa, has acquired MTN's stakes in these markets for an undisclosed sum. This transition aligns with MTN's objective to consolidate its resources and bolster its presence in more lucrative markets within the West and Central Africa (WECA) region.

The divestiture comes after MTN Guinea-Bissau's financial challenges, highlighted by a significant loss of R1.69 billion ($89.39 million) due to adverse EBITDA performance and currency translation impacts. This decision underscores MTN's commitment to optimizing its portfolio for enhanced profitability and shareholder value.

With a strategic pivot towards Ghana, Cameroon, and Cote d’Ivoire, which collectively contribute significantly to the group's revenue, MTN is poised to fortify its market leadership in the region. This streamlined focus is expected to drive sustainable growth and technological advancement in its key markets, reaffirming MTN's dedication to connecting the African continent.