TheCable

MTN Group has announced that Ralph Mupita, its current chief financial officer, will assume duty as its president and chief executive officer from September 1, 2020.

The appointment was announced in a statement on Wednesday.

Mupita has served as the company’s CFO since April 2017 and is said to have “played a critical 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”.

Mcebisi Jonas, MTN Group chairman, said: “After a rigorous and extensive search process, we are pleased to have appointed someone of Mupita’s calibre, experience and ability to fill the group president and CEO position”.

“Mupita’s experience as the group CFO, strong knowledge of our businesses and markets, as well as successful background in financial services, mergers & acquisitions (M&A) and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward.”

Mupita graduated from the University of Cape Town with a degree in engineering and a Master of business administration (MBA).

Prior to joining MTN Group, Mupita was the CEO of Old Mutual Emerging Markets for five years.

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 company said Rob Shuter, its current CEO, will step down from his executive responsibilities on August 31, 2020, and support Mupita as required until the end of his fixed-term contract in 2021.