MTN 'exploring sale' of some West Africa assets

MTN Group is considering divesting some of its smaller operations in West Africa as its focuses on core markets, people familiar with the matter said.

Africa’s biggest mobile phone company is currently reviewing its portfolio in the region to identify potential disposal candidates, according to the people. MTN’s assets in Nigeria and Ghana, its largest West African markets, do not form part of the review, they said.

Deliberations are in the early stages and there’s no certainty they’ll result in divestments, the people said, asking not to be identified discussing confidential information.

A spokesman for MTN said the company would communicate any firm intentions to dispose of assets publicly to its stakeholders, declining to comment further.

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Johannesburg-based MTN, which has a presence in West African countries including Benin, Guinea-Bissau, Guinea and Liberia, has been narrowing its focus on its home continent and beyond since 2020.

Last month it sold its Afghanistan business to Beirut-based M1 New Ventures for US$35-million as part of plans to target more high-growth areas such as data sales and mobile money. — Loni Prinsloo and Vinicy Chan, (c) 2022 Bloomberg LP