Telecel Group has confirmed the finalization of an agreement
with MTN Group for the acquisition of MTN's equity interests and shareholder
loans in both MTN Guinea-Bissau and MTN Guinea-Conakry.
In a recent statement released by Telecel, wherein the
telecommunications giant expressed its commitment to meeting specific
conditions precedent to complete the transaction. Telecel, renowned for its
extensive presence across the African continent, aims to leverage its expertise
and resources to revitalize and elevate operations in both Guinea-Bissau and
Guinea-Conakry.
The statement also emphasized Telecel's strategic objective to
expand its footprint in the Western African region and advance
telecommunication and FinTech services across Africa.
MTN Group's 2023 Annual Financial Report disclosed the shared
share purchase agreement signed with Telecel, outlining the acquisition of MTN's
equity interests in MTN Guinea-Bissau and MTN Guinea-Conakry. While the
agreement was reached in December 2023, its completion is contingent upon
certain conditions precedent.
Telecel's established track record as a telecoms operator with a
significant African presence instils confidence in its ability to drive growth
and further development in Guinea-Bissau and Guinea-Conakry. Moreover, the
company's commitment to technological advancement and economic prosperity
aligns seamlessly with the developmental goals of these markets
By:
Nana Appiah Acquaye
