MTN to sell off West African assets

MTN to sell off West African assets

MTN revealed it is in advanced talks to sell its operator units in Liberia, Guinea-Bissau and Guinea-Conakry to Axian Telecom, as it continues to optimise and focus on core markets.

In its Q1 2023 trading update, MTN revealed it is "evaluating orderly exits" to sell off MTN Guinea-Bissau, MTN Guinea-Conakry and MTN Liberia. The operator is currently "evaluating interests" from Axian. 

In a statement to Developing Telecoms, Axian Telecom said: "Axian Telecom has submitted an offer to acquire MTN’s equity interests in three operations in West Africa namely MTN Guinea-Bissau, MTN Guinea-Conakry and MTN Liberia. We will provide an update to our stakeholders on the progress of this process in due course.

The three units make up 1.6% of 2022 revenue for the pan-African operator, according to data from Bloomberg. 

MTN last exited Afghanistan, Yemen and Syria. CEO Ralph Mupita said the operator had been narrowing its focus on core markets such as Nigeria and Ghana. MTN operates in 19 countries.

Axian acquired Millicom’s operator unit in Tanzania last year pledging investment to grow its presence and the Tigo Tanzania unit. It has units in the following markets: Madagascar, Comoros, Reunion, Mayotte, Senegal, Togo, Uganda and Tanzania.

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