Guinea appoints new Areeba leadership amid financial crisis

Details: Manny Pham; Category: Operators; 29 October 2026; 582 views

Guinea has appointed Mamy Diaby as CEO of state-owned telecoms operator Areeba, as the government restructures the struggling business after a sharp decline in subscribers and revenue.

Diaby will lead the operator alongside deputy CEO Mohamed Diallo, following appointments announced in a presidential decree on October 26, according to Ecofin Agency. The new leadership takes over as Areeba seeks to remain operational and protect jobs after an assessment by consultancy EY found it was close to insolvency.

The restructuring includes clearing accumulated losses, rebuilding equity and reducing liabilities. In July 2025, shareholders approved a plan to absorb losses through a reduction in share capital, followed by a capital increase through the conversion of government debt into equity.

Authorities are also negotiating potential debt write-offs with public-sector creditors, including Guinea's tax authority and telecoms regulator. Proposed arrangements could allow creditors to recover some or all of the amounts forgiven if Areeba's financial position improves.

Areeba also needs substantial investment to expand 4G coverage, increase network capacity and improve service quality.

Areeba loses ground to Orange

Areeba's market position has deteriorated since the government acquired MTN's stake in December 2024. At the time, it held 22.6% of Guinea's 13.6 million mobile subscriptions, compared with 74.8% for Orange and 2.6% for Cellcom.

By June 2026, Areeba's share had fallen to 13.4% of 13.2 million subscriptions, while Orange's had increased to 85.4%. Areeba's subscriber base dropped from around 3.07 million to 1.77 million over the period, a decline of approximately 1.3 million, or 42%.

Orange's lead is even greater in voice traffic, where it accounts for 99% of the market, according to regulatory figures cited by Ecofin Agency.

Areeba has also lost ground in mobile internet. Its share of subscriptions fell from 20.4% at the end of 2024 to 8.5% in June 2026, while Orange's rose from 77.5% to 90.9%.

The same trend is evident in mobile money, where Areeba's share declined from 11% to 6% over the period, as Orange's increased from 89% to 94%.

The financial results reflect the widening gap between the operators. Areeba's revenue fell 51.4% year on year to GNF101 billion (US$11.5 million) in the second quarter of 2026. Orange's revenue rose 23.4% to GNF2.57 trillion over the same period.

The new management team faces the challenge of stabilising Areeba's finances while investing in its network and regaining customers in a market increasingly dominated by Orange.