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MTN Group, Africa’s largest mobile operator, announced on Wednesday the appointment of Ralph Mupita as its new Group President/Chief Executive Officer (CEO).

Mupita, who is the current Chief Financial Officer (CFO) of MTN, will replace Rob Shuter who is stepping down after more than four years of leading the telecoms giant. Shuter will, however, continue to support the new Group CEO until the end of his fixed-term contract early next year.

Appointed in April 2017 as CFO, Mupita was among the management team assembled by Shuter. According to a statement by MTN, Mupita 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 several complex regulatory matters. His appointment is with effect from September 1, 2020.

“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,” said Mcebisi Jonas, MTN Group’s Chairman. “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.”

Earlier this month, MTN announced a three- to five-year plan to pull out of the Middle East to concentrate on its pan-African strategy. The telecoms operator is also mulling a plan to sell part of its 79 per cent stake in MTN Nigeria to local investors, following a series of regulatory disputes with Nigerian authorities.

Shuter was appointed as Group CEO in 2016 following an agreement by MTN to settle a regulatory fine relating to the telecoms operator’s failure to disconnect five million unregistered SIM cards. MTN agreed to pay $1.67 billion, down from $5.2 billion, over three years. The company also agreed to list its Nigeria unit on the Nigerian Stock Exchange (NSE). Its shares were listed on the local bourse in May 2019 following an approval by the Securities and Exchange Commission (SEC).  

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.”

Before joining MTN, Mupita served for five years as the CEO of the Emerging Markets division of Old Mutual, a Pan-African financial services company. He holds a bachelor’s degree in Civil Engineering and an and MBA from the University of Cape Town, South Africa.