MTN Group announced today that Group President and CEO Ralph Mupita's employment contract will be extended until August 31, 2030.

The telco said after reaching an agreement with Mupita on the extension of his contract, originally set to run through to 30 September 2025, it was approved by the Group board of directors at today’s meeting.

Group Chairman Mcebisi Jonas commented on the announcement, saying: "The extension of Ralph's tenure will provide important continuity during a period of significant global and regional uncertainty.

“It will allow MTN to effectively navigate the complex geopolitical dynamics, market volatility and macroeconomic challenges affecting the business.

“Additionally, it will ensure that the company remains focused on its strategic priorities and continues to deliver on its commitments to shareholders and broader stakeholders."

Mupita was promoted from CFO to CEO in September 2020, following Rob Shuter's resignation.

He has been with MTN Group since April 2017, when he came in as CFO, and played a significant role in the development and implementation of the company's strategy.

Prior to joining MTN Group, Mupita was 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 R1 trillion of customer assets under management at the time.