MTN Group gains $15.8 million from Guinea-Bissau Sale, reports loss on Guinea-Conakry
- MTN Group reported a gain of R287 million ($15.8 million) from the sale of its Guinea-Bissau subsidiary.
- The sale to Telecel aligns with MTN's strategic divestment from smaller West and Central African markets.
- Regulatory approval was received for the sale of MTN Guinea-Bissau and MTN Guinea-Conakry.
MTN's strategic divestment from smaller markets reflects a pragmatic approach to focus on more profitable regions, though the losses incurred from the Guinea-Conakry sale highlight the risks associated with such transitions. This move may strengthen MTN's position in larger markets, but the financial challenges faced by its subsidiaries raise questions about the sustainability of its operations in the region.
