MTN Group, Africa's largest mobile operator, is reportedly in advanced discussions with Axian Group regarding the potential sale of its assets in select West African markets.
Sources familiar with the matter revealed that MTN is in negotiations with Axian over the prices for its operations in Liberia, Guinea-Bissau, and Guinea-Conakry. However, the deal has yet to be finalized, and there is no guarantee that a transaction will ultimately take place.
According to Bloomberg data, the three mentioned countries accounted for approximately 1.6% of MTN's revenue in 2022. When approached for comment, a representative from MTN declined to provide a statement, while a spokesperson for Axian, based in Mauritius, did not immediately respond.
MTN's CEO, Ralph Mupita, has been actively assessing the company's portfolio as part of its strategic efforts to focus resources on core markets. Nigeria and Ghana, among MTN's largest West African assets, have been the primary areas of concentration.
With operations in 19 countries across the region, MTN has already divested from certain Middle Eastern businesses such as Afghanistan, Yemen, and Syria.