MTN Group has sold its subsidiary in the Republic of Guinea to the government.

In a statement on Thursday, the telecommunications company (telco) said the sale was concluded on December 30, 2024.

MTN said the transaction aligns with its focus on portfolio optimisation and simplification, as part of the ‘Ambition 2025’ strategy.

Commenting on the sale of the business, Ralph Mupita, MTN Group president and chief executive officer (CEO), said the development marked its final exit from the market.

“This milestone marks a new phase for MTN Guinea-Conakry under local ownership, and MTN thanks the staff, customers, regulators and broader stakeholders in Guinea for the support during the time MTN has been operational in the country,” Mupita said.

“Concluding this transaction is in line with the strategy to simplify the portfolio and allocate capital to markets where we can make a difference as MTN and deliver long-term growth and returns.”

In August 2024, Mupita explained the group’s rationale for disposing of operations in Guinea-Conakry and Guinea-Bissau, saying that MTN evaluates each market’s ability to fund its growth sustainably.

The CEO said the moment a business cannot sustainably fund its growth for whatever reason, the telco has to assess the portfolio.

Nigerians visiting Thailand can now apply for visas electronically.

The Royal Thai embassy in Abuja set the applications’ start date at January 1 after announcing they were no longer accepting physical applications.

The policy also applies to citizens of Ghana, Cameroon, Benin Republic, Central African Republic, Congo, Equatorial Guinea, São Tomé and Príncipe, and Chad.

In a statement, the embassy said all applicants must be residing within the aforementioned countries when applying for the visa.

The embassy said it has the right to cancel the visa applications should the applicants fail to provide evidence of their presence within the aforementioned countries.

“Travel booking confirmation must be provided upon submission of your visa application. This includes return flight details showing applicant’s name, departure and return date, all flights en route from the aforementioned countries to Thailand,” the embassy said.

“Upon receiving your application, it takes within 5 working days to get your visa.”

The embassy said the processing time can take longer in certain cases.

Intending travellers were advised to apply for a visa at least 4-6 weeks before the departure date but not more than three months before.

All applications must be completed online via www.thaievisa.go.th

West Power and Gas Limited (WPG), the parent company of Eko Electricity Distribution Company (EKEDC), is close to selling its entire stake in the electricity company.

According to a recent report by Nairametrics, sources with direct knowledge of the transaction said a consortium that won the bid has paid the minimum 10 percent commitment fee.

The consortium comprises North-South Power (NSP), owners of Shiroro Dam; Stanbic Infrastructure Fund, and Axxela, a oil and gas company.

According to the sources, the consortium won the bid to acquire a stake in Eko Disco following a competitive process that began in early 2024.

The parties are now in the conditions precedent phase, which requires a set of conditions to be met before the agreement can be finalised.

A source familiar with the transaction told the publication that NSP benefits from the acquisition because it gives the power generation company direct control and insight into the DisCo’s operations, allowing it to access cash flow.

The recent shift to bilateral contracts between distribution and generation companies, according to another source, offers power generation companies additional incentives to purchase DisCos.

Citing examples, the publication said Transcorp Power, the owners of Ughelli Power Plant, holds a significant stake in Abuja DisCo, while Sahara Power, the owners of Egbin Power Plant, owns a majority stake in Ikeja Electric.

The report added that the deal is expected to close early in 2025, with a transaction size that could exceed $200 million while the final purchase consideration will be determined upon completion of the conditions precedent.