MTN Group appoints CFO, Mupita as CEO

MTN Group has announced the appointment of Ralph Mupita as the new president and CEO from September 1.

Mupita who is the current Chief Finance Officer, has served in that capacity since April 2017 and has 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, a statement from the telecom company said on Wednesday.

MTN Group chairman, Mr 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.”

The new CEO is a graduate of the University of Cape Town with a degree in Engineering and an MBA. Prior to joining MTN Group, Ralph was the CEO of Old Mutual Emerging Markets for five years, a business that provided financial services to individuals and corporates across 19 countries in Africa, Latin America and Asia, managing over 1 trillion rand of customer assets under management at the time.

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.”

The current president and CEO, Rob Shuter, will step down from his executive responsibilities on 31 August 2020 and will thereafter support Ralph as required until the end of his fixed-term contract early next year.

An update regarding the Group Chief Finance Officer position will be made on or before September 1, 2020, the group said.