MTN announces changes to regional structure following strategic review

7 Dec 2020

Emerging markets mobile telecommunications operator MTN Group announced last Friday (4 December) that it has completed a review of its group strategy with a renewed focus on ‘accelerating growth, deleveraging the holding company debt and unlocking value’. In a press release, the South Africa-based carrier said the full details of the plan will be published in its 2020 full-year results in March 2021 and that to support the plan, it has appointed a new Group Chief Financial Officer (GCFO), Tsholofelo Molefe, as well as making structural changes to the Group’s regional structure and its executive. In respect of its restructuring, MTN said that effective 1 January 2021, MTN Ghana will become part of the Group’s West and Central Africa (WECA) region, which it sees as ‘a natural fit due to its geographic location in the region’. Further, from that date its Southern and East Africa and Ghana (SEAGHA) region will be known as the Southern and East Africa (SEA) region. The newly-defined region is deemed ‘critical to MTN’s growth ambitions and presents a good opportunity for growth in mobile financial services’, while also holding significant potential for further expansion in the region, it said.

South Africa, MTN Ghana, MTN Group