People familiar with the situation told Bloomberg that MTN Group, Africa’s biggest mobile phone company, is planning to sell off some of its smaller operations in West Africa to focus on its main markets.
The telecom giant is currently looking at its assets in the area to figure out which could be sold. But the company’s biggest markets in West Africa, Nigeria, and Ghana, are not part of this review, sources confirmed.
Sources who didn’t want to be named said the review is still in its early stages, and it’s not sure that it will lead to divestments. Since then, MTN has said that if the company plans to sell assets, it will tell its stakeholders.
The company is based in Johannesburg, South Africa, and has offices in Benin, Guinea-Bissau, Guinea, and Liberia, all in West Africa. Since 2020, the company has been focusing on its operations in Africa.
MTN sold its businesses in Syria and Yemen last year as part of its plan to focus on its home market in Africa. In November 2022, the company also sold its business in Afghanistan to M1 NewVentures for $35 million.