MTN appoints new chief executive

Mobile operator MTN has appointed Ralph Mupita as its new group president and chief executive officer with effect from 1 September 2020.

Mupita has served as the MTN Group chief financial officer since April 2017, and has played a 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, the group said in a statement on Wednesday (19 August).

He is a graduate of the University of Cape Town with a degree in engineering and an MBA.

Prior to joining MTN, Mupita was the chief executive 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, Mupita 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 chief executive, Rob Shuter, will step down from his executive responsibilities on 31 August, and will support Mupita until the end of his fixed-term contract early next year.

MTN said that an update regarding the GCFO position will be made on or before 1 September 2020.

Read: MTN set to sell stake in Jumia

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