Africa’s leading telecommunications company, MTN Group, has named Ralph Mupita as its new group chief financial officer. The MTN Group made the announcement October 31, 2016, stating that the appointment takes effect from April 3, 2017.
“The MTN Group is pleased to appoint Ralph Mupita (“Ralph”) to the position of Group Chief Financial Officer (Group CFO) and Executive Director of MTN Group, with effect from 3 April 2017,” the company announced.
According to MTN, Mupita is currently Chief Executive of Old Mutual Emerging Markets and has extensive experience in the financial services sector, having had a distinguished career at Old Mutual over the last 16 years.
“The board of directors of MTN Group (the Board), following accepted standard governance practice, is assured that Ralph is suitable to take on this important role and responsibility taking into account his background in the highly regulated and well developed-risk framework in the financial services sector,” the company stated.
According to MTN, Gunter Engling, who is currently the Group’s acting CFO, “will assume the position of Deputy Chief Financial Officer,” with effect from the same April 3, 2017 that Mupita would commence on his newly appointed position; Engling will be reporting to Mupita.
“We have previously indicated to stakeholders, that we are hopeful that the evolution and finalisation of the MTN Group senior management team will be completed by year-end 2016. I am delighted to have someone of Ralph’s calibre join the team. His background in financial services and emerging markets will stand Ralph in good stead in his new role as Group CFO” Phuthuma Nhleko, MTN Group’s Executive Chairman stated.
Responding to his appointment, Mupita said:
“I am pleased to be joining a Pan African, pioneering and iconic company such as MTN. MTN has a great brand and excellent market positions that give it an attractive and unique platform for growth. I look forward to my new role in assisting MTN achieve its vision and objectives.”
Mupita holds a BSc Engineering (Hons) and an MBA both from the University of Cape Town. Before joining Old Mutual in 2001, he worked on engineering and construction projects in South Africa. In his career at Old Mutual, Ralph has had a variety of senior leadership roles that included being strategy director of Old Mutual South Africa, and running the Retail Affluent business in South Africa. In his current role as Chief Executive, Old Mutual Emerging Markets, Ralph is responsible for all of Old Mutual PlcÆs operations in Emerging Markets excluding Nedbank Limited.
Old Mutual Emerging Markets operates in 19 countries in Africa, Latin America and Asia offering life insurance, property and casualty and banking solutions to over 24 million customers, generating R12bn (December 2015) of adjusted operating profit.
“On behalf of the Board, I extend a warm welcome to Ralph Mupita and wish to also thank Gunter Engling for fulfilling the role of Acting Group CFO until 3 April 2017,” Nhleko commented further.
By MKPE ABANG