Effective 1 January 2021, MTN Ghana will become part of the Group’s West and Central Africa (WECA) region, and MTN’s Southern and East Africa and Ghana (SEAGHA) region will be known as the Southern and East Africa (SEA) region.

This forms part of a series of changes the company has announced following a review of its Group strategy underpinned by the intention to accelerate growth, deleverage the holding company debt and unlock value.

Ebenezer Asante, the SEAGHA Vice President since 2017, will become the new WECA Vice President, and Yolanda Cuba, the Group’s Chief Digital and Fintech Officer, will take the helm as the SEA Vice President.

Asante joined MTN in 2008 and is a highly experienced executive who has held senior positions in the Group, including CEO of MTN Ghana and CEO of MTN Rwanda. He is also a board member on a number of companies within the Group.

Cuba joined MTN in January 2020. Prior to that she was Vodacom’s Chief Officer of Strategy and M&A and CEO of Vodafone Ghana, which saw her named telecom CEO of the year in 2018.

MTN said the SEA region is critical to its growth ambitions and presents a good opportunity for growth in mobile financial services. It also has the largest potential for further expansion.

“With her extensive experience in telecoms and finance, Yolanda will play a key role in driving growth and strategic progress in the region,” the company stated.

Serigne Dioum, Group Executive for Mobile Financial Services, will join the Exco as the Group Chief Digital and Fintech Officer. Dioum joined MTN in 2009 and has an established track record in the telecoms sector, with strong experience in mobile financial services (MFS).

Before joining MTN, he held senior positions in MFS, operational marketing, value-added services and data at Orange.

“Dioum is highly qualified and experienced to drive digital innovation and financial inclusion as well as build and scale these platforms as part of MTN’s growth strategy,” the company added.

Kholekile Ndamase, Group Executive for Mergers and Acquisitions (M&A), will assume the new Exco role of Group Chief M&A and Business Development Officer. Ndamase joined MTN in 2016 from RMB, where he led the equity-based financing business and was responsible for financing solutions and M&A execution.

Ndamase’s experience and leadership capacity is important to the group’s portfolio optimisation drive, itself key to the strategy. This includes the asset realisation programme, which aims to reduce debt, simplify the portfolio, reduce risk, improve returns and take advantage of expansion opportunities.

These executive changes follow those announced in October: Karl Toriola as CEO designate of MTN Nigeria and Ferdi Moolman’s appointment to the new exco role of Group Chief Risk Officer. Both are effective from 1 March 2021.

New CFO

MTN also announced the appointment of Tsholofelo Molefe as the company’s new Group Chief Financial Officer, effective no later than 1 October 2021.

In its statement the company said Molefe will also join the Group board and take over from Sugentharan Perumal who has been acting in the position of GCFO since 1 September 2020.

Molefe is a qualified chartered accountant, CA(SA), and according to MTN, brings deep financial, risk and telecommunications experience.

As Telkom’s GCFO since 2018, as well as its Chief Risk Officer and Deputy CFO prior to that, Molefe played a key role in the strategic transformation programmes at Telkom.

Prior to working at Telkom, Molefe was the Finance Director at Eskom as well as the CFO for First National Bank’s Personal Banking division. She is also a Non-executive Director on the board of Curro Holdings.

“We are thrilled to have an executive of Tsholofelo’s stature join us,” said MTN Group President and Chief Executive Officer Ralph Mupita. “The board is confident that she has the experience required for the position. She will play a critical role in the growth of the business and unlocking of shareholder value.”

Mupita added: “We are excited about our journey of growth and it is important to ensure that the management capacity is in place to sustain and accelerate our key strategic ambitions. Today’s appointments follow the recent management announcement we made on the 26th of October and continues the process of further deepening the skills and experience required to lead the Group’s ambitious drive into the future.”

“Not only do these appointments safeguard continuity in the growth of our leading and scale connectivity business on the African continent, but, importantly, also support the acceleration of our digital platforms, de-risking of the business and unlocking of value. I am also particularly pleased with our continued steady progress in adding to the representation of women in our senior leadership team, which underlines MTN’s strategic focus on diversity and inclusion.”