Th MTN Group has appointed the current group chief financial officer (CFO), Ralph Mupita, as the new group president and chief executive officer with effect from 1 September 2020.
Mupita will succeed Rob Shuter, who steps down from his executive responsibilities on 31 August.
The MTN Group chairman, 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.”
Mupita welcomed his appointment, saying MTN is in a good position to tap the continent’s unbanked population.
“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 said.
“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,” he added.
The current group president and chief executive , Rob Shuter, will step down from his executive responsibilities on 31 August 2020 and thereafter support Mupita as required until the end of his fixed-term contract early next year.
An update regarding the group chief financial officer position will be made on or before 1 September 2020.
Mupita has served as the MTN Group’s chief financial officer since April 2017 and has played a critical role in developing and executing its strategy, capital allocation processes and financial performance, as well as in resolving a number of complex regulatory matters.
He is a graduate of the University of Cape Town with a degree in engineering and an MBA. Before joining the MTN Group, he was the chief executive of Old Mutual Emerging Markets for five years, a business which provided financial services to individuals and corporates across 19 countries in Africa, Latin America and Asia, managing over US$58 billion of customer assets.