Liberia: Lonestar Cell MTN Denies Company's Exit Rumors

15 November 2023
FrontPageAfrica (Monrovia)
By Gerald C. Koinyeneh

Monrovia — Lonestar Cell MTN has debunked reports that it is planning to leave Liberia. In recent days, news has been circulating that the MTN Group, the parent company of Lonestar Cell MTN, might be contemplating an exit from Liberia. The move, according to the report is part of the mobile network giant's strategy to refocus its resources on larger markets such as Nigeria and Ghana, which are central to its plans.

According to Development Telecom, the company, following the impending departure from Afghanistan, is be eyeing exits from Guinea-Bissau, Guinea-Conakry, and Liberia. Bloomberg previously reported negotiations between MTN Group and Axian Group Ltd, a Madagascar conglomerate, potentially impacting these West African countries.

The publication notes that in recent months, MTN's CEO, Ralph Mupita, has been reviewing the company's portfolio. The potential sale of its operations in Liberia, Guinea-Bissau, and Guinea-Conakry to Axian Telecom aligns with MTN's broader strategy to streamline operations and focus on core markets.

Analysts say the possible exits would not be unexpected, considering the challenges MTN faces in the West and Central Africa regions, including inflation and currency devaluation. Liberia, Guinea-Bissau, and Guinea-Conakry collectively contributed only 1.6% to MTN's revenue in 2022. Moreover, in Liberia, Lonestar MTN faces stiff competition from Orange Liberia.

No plan to leave

Responding to a FrontPage Africa's inquiry Lonestar Cell MTN's management said it has no plan to leave Liberia. The company's Corporate Communication Manager Lisa White, in a short text message said, "Lonestar is not exiting from Liberia. Same news circulated over a year ago. Regardless, we have no information on that. If anything comes up, we will inform you."

has remained silent, declining to respond to inquiries. MTN, a significant player in Africa with a presence in 19 countries, has been a top performer in African Business' annual ranking of the continent's top 250 listed companies.

However, the overall value of these companies has declined, including MTN, mainly attributed to the economic impact of the COVID-19 pandemic.

For Lonestar Cell MTN, it has been a key player in Liberia's telecommunications landscape since its launch in 2001. Its dominance in the mobile money market has significantly contributed to financial transactions, fostering financial inclusion in the country, especially in remote areas with limited access to traditional banking services.

According to the Central Bank of Liberia 2022 annual report, the value of transactions carried out through mobile money platforms surged to L$281.7 billion and US$2.2 billion, respectively. This represents a significant increase from the 2021 figures of L$251.4 billion and US$1.4 billion.

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