MTN Group has announced that the current group CFO of MTN Group, Ralph Mupita, has been appointed as the new group president and CEO with effect from 1 September 2020.
Ralph has served as the MTN Group CFO since April 2017 and has played a critical role in the development and execution of the group’s strategy, capital allocation processes, financial performance as well as in the resolution of a number of complex regulatory matters.
MTN Group chairman Mr Mcebisi Jonas said: “After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s calibre, experience and ability to fill the group president and CEO position.
“Ralph’s experience as the group CFO, strong knowledge of our businesses and markets, as well as successful background in financial services, M&A and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward.”
Ralph is a graduate of the University of Cape Town with a degree in Engineering and an MBA. Prior to joining MTN Group, Ralph was the CEO of Old Mutual Emerging Markets for five years, a business that provided financial services to individuals and corporates across 19 countries in Africa, Latin America and Asia, managing over R1 trillion of customer assets under management at the time.
Commenting on his appointment, Ralph said: “Leading a business with MTN Group’s history, scale and socio-economic impact is a privilege and honour, and I look forward to working with the group board and executive committee in driving growth and unlocking value for shareholders and broader stakeholders.”
“MTN Group is well positioned to take advantage of the digital acceleration shifts and opportunities across our markets, and we are well placed to play an important and leading role in digital and financial inclusion of the African continent, working with our stakeholders and partners.”
The current group president and CEO, Rob Shuter, will step down from his executive responsibilities on 31 August 2020 and will thereafter support Ralph as required until the end of his fixed-term contract early next year.
An update regarding the GCFO position will be made on or before 1 September 2020.
The BBC reported that the appointment of Mr Mupita comes as MTN is exiting the Middle East and focusing on its African market. It’s expected to exit Yemen, Afghanistan and Syria first, with other countries in the region to follow suit.
US sanctions against Iran have hampered MTN’s business there, where it has a 49% stake in Irancell.
Source: BBC
