In preparation for its upcoming initial public offering in the next three years, Telecel Group, an African focused telecommunications company, recently acquired two West African units from MTN Group Ltd., Africa’s largest mobile operator.
The acquired assets include the debt and equity of MTN in Guinea Bissau and Guinea-Conakry, which is another strategic move by Telecel to increase its presence in this area. This acquisition is in addition to the purchase, made by Telecel last year of Vodafone Group Plc’s activities in Ghana, according to nairametrics.
Telecel Group CEO, Moh Damush, revealed that the company is considering an initial public offering in Dubai and London as a sign of its preference for overseas stock markets.
In addition, Telecel showed interest in exploring listing opportunities on African bourses in the coming years, underlining its commitment to leveraging the continent’s growing telecommunications market, Bloomberg first reported.
For telecommunications companies such as Telecel, Africa’s youthful and fast growing population represents an enormous market.
However, there are also challenges for undertaking operations on African markets like insufficient energy infrastructure and the provision of services to those with low income levels. Inspite of these challenges, Telecel remains optimistic about its growth prospects in the region.
Telecel is eyeing further acquisitions, particularly in the financial services and technology sectors, to diversify its portfolio and enhance its value proposition to investors. Damush emphasized that the company is actively seeking financing from shareholders, Africa-focused funds, banks, and equity investors to support its expansion strategy.
Telecel has been steadily expanding its presence in several African markets, including Ghana, the Central African Republic, and Liberia, under the leadership of Damush, together with partners Hugues Mulliez and Nicolas Bourg. With a focus on strategic acquisitions and potential listings on international and African stock exchanges, Telecel is poised to capitalize on the continent’s evolving telecommunications landscape and drive sustainable growth in the coming years.
