According to the publication in the Daily Observer newspaper on Monday, May 29, 2023, there’s a headline that states that Lonestar Cell MTN wants to leave Liberia.
A company called Axian which is from Madagascar has been on the back of MTN to get into the market where it is functioning, but it is seen that they won’t have access to Nigeria, South Africa, and Guinea, but will leave Liberia, Guinea, and Guinea Bissau if Axian Group Ltd decides to go through with it. In 2022 these three country accounted for paltry at 1.6% of MTN’s revenue in 2022.
According to Bloomberg Axian’s portfolio is being evaluated by Ralph Mupita the CEO of MTN, he’s actually thinking of selling some of its West African markets which will strengthen the strategy to trim its portfolio at steam line its operations.
Lonestar Cell MTN which has one of the largest shares in Mobile Money services in the country is now dominating financial transactions and has been in use for two consecutive years. From the Daily Observer newspaper, According to 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.
While in 2021 the figure were L$251.4 billion and US$1.4 billion.
If Axian happens to buy off MTN from Liberia will there be another easy access to money transactions like MTN has been providing, which they have shadowed the competitors such as Orange GSM and other Mobile Money Management systems like TipMe?
This news might not be satisfying to the Liberian people, knowing very well how they are hard to adapt to a new system, but we hope MTN CEO reviews Axian Group Ltd files well before leaving Liberia.
