Group strategic review and operating model changes to support execution | Change in role of a director
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(Share code MTN)
(ISIN: ZAE000042164)
(MTN Group or MTN or the Group or the Company)
Group strategic review and operating model changes to support execution |
Change in role of a director | Changes to the board of MTN South Africa
(SA)
The MTN Group board (the Board) has, over the past several months, been in
the process of evaluating the Ambition 2025 strategy and its execution. As
part of this assessment, the Board has also considered the evolving
geopolitical, macroeconomic and technology landscapes. These not only present
challenges for the business, but importantly they present opportunities for
MTN to accelerate Africa's digital future.
In this context, the Board has resolved that the strategic priorities under
Ambition 2025 remain relevant and appropriate. As MTN looks beyond 2025, the
Company is streamlining its focus into three principal platforms of
"Connectivity", "Fintech" and "Digital Infrastructure". This three-platform
approach will best position the Group to capture value from the structural
growth opportunities brought about by data adoption and financial inclusion
across Africa.
Within the Connectivity platform, we see opportunities in winning the home,
as well as simplifying and consolidating our digital offerings to accelerate
their growth. In Fintech, we are leveraging our solid foundation to transform
the business into a scaled, digital-first platform. We are enhancing our
positioning in the Digital Infrastructure business to better enable the
exponential growth in digital workloads, as well as infusing AI across the
business for value creation.
This approach will enrich our ability to leverage the strengths of our
established businesses and rapidly scale the emerging ones. To strengthen
strategy execution and delivery, MTN announces the following executive
committee (Exco) changes, which will become effective from 1 November 2025.
Strengthening alignment in implementation of capital allocation
Tsholofelo Molefe, the Group Chief Financial Officer (GCFO) will have her
responsibilities expanded to incorporate the mergers and acquisitions (M&A)
portfolio. Kholekile Ndamase, currently Chief M&A and Business Development
Officer, will step down from the Group Exco and have a new reporting line to
Tsholofelo in her role as the steward for the capital allocation framework
and its implementation at the Group level.
Streamlining our Markets structure for greater efficiency and growth
We have made good progress in the optimisation of our portfolio, including
the exits from the Middle East and some African markets. In this context, we
are simplifying the structure and operating model of our Markets portfolio,
to ensure that it is better positioned as we drive the growth of our
connectivity operations.
Ismail Jaroudi, currently Vice President (VP) of Middle East and North
Africa, will step down from Group Exco and assume the role of VP of Special
Projects in the office of the Group President and CEO, focused on portfolio
optimisation initiatives. He will also continue his role as CEO of MTN Dubai.
Ebenezer Asante, currently the Senior Vice President of Markets, will focus
on accelerating the growth and the contributions of the operations in Ghana,
Uganda, Rwanda, Zambia, South Sudan, Sudan, Liberia and the joint ventures
in Eswatini and Botswana going forward. He will take on this revised role as
the VP of Ghana, Southern and East Africa (SEA).
In addition to his responsibilities as CEO of MTN Nigeria, Karl Toriola will
take on additional responsibilities as VP of Francophone Africa, with a focus
on growing the market shares of operations in these markets, which encompass:
Cameroon, Cote D'Ivoire, Benin and Congo Brazzaville. He will assume this
revised role as CEO of MTN Nigeria and VP of Francophone Africa, given his
prior extensive experience in the role.
Enhancing growth and returns in South Africa
Ferdi Moolman, the current Group Chief Risk Officer (GCRO), will succeed
Charles Molapisi as CEO and Executive Director of MTN South Africa. Charles
led MTN SA through a challenging period of high power outages and network
resilience, maintaining the company's network leadership.
Yolanda Cuba, currently VP for SEA, will step down from Group Exco to become
Deputy CEO and Executive Director of MTN SA. Both Ferdi and Yolanda bring
extensive group-wide experience and will collaborate to accelerate growth
and maximize returns in MTN SA.
Ferdi has held several senior roles within the Group, including CEO of MTN
Nigeria from 2016 to 2021. Consequently, he will step down from the MTN
Nigeria board effective 31 October 2025.
Decoupling Group Chief Technology and Information Officer (GCTIO) and Digital
Infrastructure roles
Mazen Mroué, currently GCTIO and CEO of Digital Infrastructure, will
prioritize accelerating efforts in expanding our fibre and data centre
businesses across Africa. As additional focus areas, Mazen will work
strategically with our towerco partners, as well as lead network sharing
opportunities across our operations to drive efficiencies. As the Digital
Infrastructure platform continues to evolve, Mazen will lead the Group's
partnerships with non-terrestrial networks such as low-earth-orbit satellite
operators.
GCTIO to accelerate AI adoption across our operations
Charles Molapisi has a strong background in network and IT and will remain
on the Group Exco taking up his previous role as GCTIO. He will have
additional responsibilities and focus on speeding up AI use case adoption
and infusion across the business. We see a significant value-creation
opportunity over the medium-term in the leveraging of AI across the business
in domains such as network, customer operations and workforce productivity.
Consolidating commercial and strategy structure
Selorm Adadevoh, currently the Group Chief Commercial Officer (GCCO), will
take on expanded responsibilities to include Strategy and Transformation.
Chika Ekeji, the current Chief Strategy and Transformation Officer, will
step down from the Group Exco to focus on accelerating the growth of some of
the emerging businesses aligned to the platform strategy.
Succession in key Group roles
The replacement of the current GCRO, will be announced in due course and the
role will continue to be included in the Group Exco. Paul Norman, currently
Group Chief Human Resources Officer, will be retiring at the end of 2026.
Paul's successor is anticipated to be announced by mid-2026.
These leadership changes will support accelerated execution of our strategy
and value creation over the medium-term.
The changes to the Group Exco will be effective from 1 November 2025 and
will comprise the following:
- Group President and CEO – Ralph Mupita
- Group Chief Financial Officer – Tsholofelo Molefe
- Vice President of Ghana and SEA – Ebenezer Asante
- MTN Nigeria CEO and VP of Francophone Africa – Karl Toriola
- MTN SA CEO – Ferdi Moolman
- Group Chief Commercial, Strategy and Transformation Officer – Selorm
Adadevoh
- CEO of MTN Group Fintech – Serigne Dioum
- CEO of MTN Digital Infrastructure – Mazen Mroué
- Group Chief Technology and Information Officer – Charles Molapisi
- Group Chief Legal and Regulatory Affairs Officer – Lele Modise
- Group Chief Sustainability and Corporate Affairs – Nompilo Morafo
- Group Chief Human Resources Officer – Paul Norman.
- Group Chief Risk Officer – to be announced in due course
"These leadership changes illustrate the depth of talent and experience we
have across the Group," said MTN Group President and CEO Ralph Mupita. "The
changes will support the accelerated execution of our strategy beyond 2025
as well as greater value creation for stakeholders over the medium term."
MTN SA governance changes
MTN Group shareholders are hereby advised that, ahead of the upcoming
retirement in 2026 of the Chairman of MTN SA, Mike Harper, the Company has
been implementing measures to ensure a smooth and structured transition to
the entity's board leadership. In this context, we are pleased to announce
that Sindisiwe (Sindi) Mabaso-Koyana will succeed Mike as the new Chairperson
of MTN SA in the first quarter of 2026.
The Board expresses its sincere gratitude to Mike for his dedicated
leadership, stewardship and commitment to MTN SA since his appointment as
Chairman in 2016.
Fairland
18 August 2025
Lead Sponsor
J.P. Morgan Equities South Africa Proprietary Limited
Joint Sponsor
Tamela Holdings Proprietary Limited
Date: 18-08-2025 07:10:00
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