ZIMBABWE born Ralph Mupita has been appointed president and CEO of MTN Group, the company announced in a statement.
This appointment will be in effective as from September 1, 2020, with the current CEO Rob Shuter set to step down on August 31.
Previously Mupita was the CFO(chief financial officer) of MTN Group, a position he held from April 2017.
“Ralph has served as the MTN Group CFO 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,” MTN said.
After Shuter steps down on September 1, he will support Mupita as required until the end of his fixed-term contract early next year.
“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 MTN Group chairman Mcebisi Jonas.
“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.”
Mupita is a graduate of the University of Cape Town with a degree in engineering and an MBA.
Before joining MTN Group, Mupita served as the CEO of Old Mutual Emerging Markets for five years, managing over R1 trillion of customer assets under management at the time.
“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,” Mupita said.
“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.”
MTN said that an update regarding the group CFO position will be made on or before September 1, 2020.