Following dismal yearly financial results, MTN Group, Africa’s largest cellular telecom provider, has implemented changes across outlets in Africa.
The 2024 financial results show that MTN Group lost R11.2 billion, while the 2023 financial year saw a profit of R4 billion.
Ferdi Moolman, the current Group Chief Risk Officer, will take over as MTN South Africa’s CEO in place of Charles Molapisi, the company announced in a statement posted on the JSE SENS. Molapisi will revert to his previous position in what seems to be a demotion.
According to the statement: “Charles Molapisi has a strong background in network and IT and will remain
on the group executive committee, resuming his previous position as GCTIO [group chief technology and information officer]. He will have additional responsibilities and focus on speeding up AI [artificial intelligence] 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.
“Charles led MTN SA through a challenging period of high power outages and network
resilience, maintaining the company’s network leadership,” he statement added.
Yolanda Cuba, the MTN group vice-president for South and East Africa currently for SEA, is set to resign from her position and group executive in yet another apparent demotion. She will become
MTN SA’s executive director and deputy CEO.
Continuing, the statement available to BrandSpur telecom and information news desk reads: “Both Ferdi and Yolanda bring extensive group-wide experience and will collaborate to accelerate growth and maximise returns at 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,” it added.
The mergers and acquisitions (M&A) portfolio will now be included in the duties of the MTN Group’s Chief Financial Officer, Tsholofelo Molefe
Furthering, the statement partly reads: “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.”
Ralph Mupita, MTN Group CEO, had this to say: “These leadership changes illustrate the depth of talent and experience we have across the group.
“The changes will support the accelerated execution of our strategy beyond 2025
as well as greater value creation for stakeholders over the medium term,” he added.
