Bissau, Aug. 12, 2024 (Lusa) - The representative in Bissau of the British-based multinational Telecel Mobile Group, Eleonor Azar, announced on Monday that she has finalised the process of acquiring the South African telecommunications company, MTN, in Guinea-Bissau, where it has been operating for 20 years.
The public ceremony for the transfer of dossiers between the two companies took place today in Bissau, in front of representatives of the two telecoms companies as well as the Guinea-Bissau authorities.
"Today represents a historic milestone for Telecel and for the people of Guinea-Bissau. We stand before you with pride and optimism to announce the successful acquisition of MTN by the Telecel Mobile group," said Eleonor Azar.
The Telecel Mobile group is a telecommunications multinational that operates in more than 20 countries, mainly in Africa, where it acquires companies operating in mobile networks and the internet.
The South African company MTN, a subsidiary of Spacetel, had been in Guinea-Bissau since 2004 and had announced that it would be leaving as of 2023, as part of the group's strategy which also includes leaving Guinea-Bissau and Sierra Leone.
According to a source at the National Regulatory Authority (ARN) for the telecoms sector, by August 2023 MTN accounted for around 30% of the mobile phone network market share in Guinea-Bissau.
The South African group has abandoned Guinea-Bissau, Guinea-Conakry and Sierra Leone in a strategy to concentrate on Ghana and Nigeria in West Africa, said the ARN source.
The Telecel Mobile representative noted that the operation finalised today is not "a simple change of ownership," but "a reaffirmation of the commitment" of her group to Guinea-Bissau.
"Telecel has been driven by the conviction that access to cutting-edge technology and services can be a powerful catalyst for economic growth, social development and individual empowerment," emphasised Eleonor Azar.
She announced that Telecel Mobile's priorities in Guinea-Bissau are to expand the network and modernise the infrastructure, which she said will be done by introducing the latest technologies, improving coverage, speed and connectivity.
Eleonor Azar believes that these factors "will make people and companies prosper" in Guinea-Bissau.
The value of the transaction between MTN and Telecel Mobile Group has not been disclosed.
In addition to MTN, France's Orange operates in Guinea-Bissau in the mobile phone and internet sectors, in a market that the ARN believes has around one million users.
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