Telecom seasoned professional, Ahmad Farroukh has been named the new Chief Executive Officer (CEO) of Globacom, one of Nigeria’s top telecom companies.
In keeping with the the Nigerian Communications Commission’s (NCC) recent push for higher governance standards in the telecom sector, this leadership move attempts to improve the company’s operational performance and corporate governance.
Globacom had chosen Farroukh to spearhead the company’s restructuring initiatives, according to a techeconomy report available to BrandSpur telecom and IT news desk. He is an excellent contender to lead the business through an anticipated restructuring because of his vast experience in African telecoms.
Continuing, Farroukh joins Globacom with more than twenty years of expertise. In 1995, he started his career as the CEO of Investcom Group, a telecom company established in Lebanon that was ultimately purchased by MTN Group. He has held several senior positions, including CEO of MTN Nigeria from 2006 to 2010, regional director for West Africa under Investcom, and managing director at MTN Ghana.
In 2014, Farroukh was appointed CEO of MTN South Africa. From 2014 to 2017, he oversaw Mobily, the second-biggest telecom company in Saudi Arabia. In 2019, he was most recently the Group CEO of Smile Communications Nigeria Limited. He is a New York-based Certified Public Accountant (CPA) with a Master’s degree in Accounting and Business Administration from Lebanese American University.
His appointment by Globacom comes at a crucial moment as the firm struggles with its subscriber base. Globacom’s subscriber count dropped by 69.2 percent in just six months, from 62.19 million in March to 19.15 million in September, after a recent regulatory examination by the NCC revealed subscriber count inconsistencies. This shift emphasizes the necessity of deliberate reforms to boost growth and rebuild trust in a cutthroat telecom environment.
Farroukh’s responsibilities will include leading Globacom through structural changes in addition to reviving the telco’s subscriber growth. The NCC has underlined the importance of strong governance standards, and the company’s decision to form a board demonstrates a stronger commitment to this goal.
In Nigeria’s telecom sector, where industry participants are under growing pressure to embrace open and controlled operational procedures, Farroukh’s nomination represents a significant step. Given that the NCC is still pushing for corporate governance changes to stabilize Nigeria’s telecom sector, Globacom’s transformation may serve as a model for other telecom providers.
Farroukh is expected to put in place a growth-oriented and governance-focused strategy that sets Globacom up for long-term success, given his history of effectively overseeing high-stakes telecom operations throughout Africa. His experience and emphasis on governance are crucial to Globacom’s future in Nigeria’s rapidly changing telecom sector since this leadership change is in line with larger industry trends that emphasize responsibility.
