Ralph Mupita has been appointed the CEO of the MTN group following a company announcement yesterday. He will be taking over for Rob Shuter who will step down formally on August 31 but will continue to assist the incoming CEO until the early 2021 in a non-executive role.
The Zimbabwean born engineer could be considered a strategic appointment due to his financial expertise. Mupita had previously served as the company’s CFO from 2017 and was previously the Chief Executive Officer of the Old Mutual Emerging markets fund. He is a graduate of the University of Cape Town and Harvard Business School.
“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
MTN is currently the largest fintech in Zambia with more than 6 million subscribers and more than $100 million in yearly revenue. The company is believed to be pivoting its focus to its mobile money division with expansions in artificial intelligence driven consumer loans and insurance offerings due to partnerships with Jumo and aYo. Africa’s largest telecom network is certainly driving Africa’s digital evolution.