MTN planning to leave three African markets
November 8th 2023
MTN Group wants to exit Afghanistan by the end of next month, a move that’s been coming for some time, with Guinea-Bissau, Guinea-Conakry and Liberia likely next in line to go. “The process to exit Afghanistan is in the regulatory approval stages and remains on track to be finalised by year-end,” the telecommunications group said in its quarterly update for the period ending 30 September, released on Tuesday. Last August, it emerged that MTN had received a US$35-million binding offer for the Afghanistan business. Group CEO Ralph Mupita told journalists on a news call at the time that the completion of the transaction would conclude the exit of the Middle East markets, while its 49% financial investment in Irancell would continue to be managed within the MTN portfolio. Exits from other, smaller markets on the African continent may soon to follow. The pan-African mobile operator, which currently has a presence in 19 countries on the continent and the Middle East, said that discussions are also ongoing regarding the potential “orderly exit” of its operations in Guinea-Bissau, Guinea-Conakry and Liberia. These changes will reduce the tally to five operating countries in the group’s West and Central Africa (Weca) segment of its portfolio.