MTN reshuffles regions, management to fuel growth plan
MTN has announced a comprehensive review of the Group’s strategy with a focus on accelerating growth, deleveraging the holding company’s debt and unlocking value. The revised strategy will be presented in more detail following the release of MTN’s 2020 full-year results in March 2021.
According to MTN Group, the move is designed to accelerating its growth strategy, detailing plans to reshuffle its regional structure and appointing a new group CFO, with the changes due to take effect in 2021.
Ralph Mupita, MTN Group President and CEO stated the planned shifts will safeguard continuity in the growth of MTN’s leading and scale connectivity business on the African continent, while also advancing its digital platforms, de-risking the business and unlocking value.
“We are excited about our journey of growth and it is important to ensure that the management capacity is in place to sustain and accelerate our key strategic ambitions”, Mupita mentioned, while noting the changes also increase the company’s focus on diversity and inclusion.
The operator named Telkom Group CFO Tsholofelo Molefe as its new finance chief, with the move to happen “as soon as practically possible” in 2021, but “no later than 1 October”.
MTN also stated its Ghana operation will become part of its West and Central Africa (WECA) region from 1 January 2021, with its Southern and East Africa and Ghana (SEAGHA) unit becoming the Southern and East Africa (SEA). MTN highlighted the unit as “critical” to the company’s ambitions, offering “a good opportunity for growth in mobile financial services” and “the largest potential” for further expansion overall.
Current VP of SEAGHA, Ebenezer Asante, will become VP of WECA, with chief digital and fintech officer Yolanda Cuba taking the VP role for SEA.
MTN’s head of mobile financial services, Serigne Dioum, will succeed Cuba, with the company highlighting his long experience as key to driving “digital innovation and financial inclusion”.
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