MTN Group extends CEO's contract until 2030

Ralph Mupita, the group president and CEO of pan-African operator MTN Group, has had his employment contract extended until August 31, 2030.

Mupita's contract was originally set to expire on September 30, 2025, but the Group's board agreed to extend it.

MTN's group chairman, Mcebisi Jonas, said extending Mupita's tenure would provide important continuity during significant global and regional uncertainty.

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

"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," he added.

MTN Group has extended its Group President and CEO Ralph Mupita's employment contract until August 31, 2030. (Source: MTN Group)

Mupita has been group CEO at MTN since September 2020 when he moved from CFO to CEO, taking over from Rob Shuter who decided not to renew his contract with the operator after almost four years as CEO.

Mupita joined MTN in April 2017 as group CFO and before that spent five years as the CEO of Old Mutual Emerging Markets.

Mupita's good relationship with MTN board

It is no surprise the MTN Group's board extended Mupita's tenure as he has had a good relationship with the telco's board.

In September 2024, the telco's board came out in support of Mupita after favoritism allegations surfaced in the media.

Related:MTN board backs CEO Ralph Mupita amid favoritism allegations

MTN put out a statement in response to those media reports "regarding allegations of complaints against members of the Group's executive," confirming that an independent review had found no wrongdoing by the CEO.

"The independent report stated that attempts to engage with the complainant were unsuccessful and found that there was no evidence of improper conduct by those cited in the complaint," MTN said at the time.

The board's support of Mupita comes at a time when he is steering the MTN ship through rough seas.

In August 2024, MTN reported a half-year loss as the sharp devaluation of the Nigerian naira and ongoing conflict in Sudan negatively impacted its earnings.

In the same month, Mupita explained MTN's reasons for selling its operations in Guinea-Bissau and Guinea-Conakry, which are deemed too small and unable to fund their own growth.

However, even with rough seas, the company has made some positive moves recently. Just last month it launched commercial 5G networks in Benin and the Republic of Congo (Congo-Brazzaville).

Furthermore, the company's investment in infrastructure has paid off with the latest Ookla Speedtest Intelligence data report finding that MTN Nigeria's 5G network had the fastest download and upload speeds in the West and Central African (WCA) region.

In October 2024, Mupita was also one of two African telco CEOs elected to the GSMA's board for 2025 and 2026.