MTN Group has appointed Ralph Mupita, the current Chief Financial Officer (CFO) as the new Group President and CEO.
Per notice served, his appointment takes effect from September 1, 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 company’s strategy, capital allocation processes, financial performance as well as in the resolution of a number of complex regulatory matters.
In a statement issued by MTN, the Group Chairman, Mr. Mcebisi Jonas said:
“After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s caliber, 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 tying knots with the MTN Group, Ralph was the CEO of Old Mutual Emerging Markets, a business that provides 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 for five years.
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.”
He continued to say that:
“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, is expected to step down from his executive responsibilities on August 31, 2020, and will thereafter support Ralph as required until the end of his fixed-term contract by early next year.
Also, an update regarding the Group’s CFO position will be made known before or after September 1, 2020.
