TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      Moves afoot to fix Eskom’s debt problem

      4 July 2022

      Audi South Africa to offer free connectivity upgrades

      4 July 2022

      Shock fuel price increase announced

      4 July 2022

      Wiocc’s data centre business, OADC, appoints CEO

      4 July 2022

      Google’s Equiano cable lands in Namibia

      3 July 2022
    • World

      Tether fails to calm jittery nerves

      4 July 2022

      EU to impose wide-ranging new rules on the crypto industry

      3 July 2022

      Crypto hedge fund Three Arrows files for bankruptcy

      3 July 2022

      Meta girds for ‘fierce’ headwinds

      1 July 2022

      Graphics card prices plummet as crypto demand dries up

      30 June 2022
    • In-depth

      The NFT party is over

      30 June 2022

      The great crypto crash: the fallout, and what happens next

      22 June 2022

      Goodbye, Internet Explorer – you really won’t be missed

      19 June 2022

      Oracle’s database dominance threatened by rise of cloud-first rivals

      13 June 2022

      Everything Apple announced at WWDC – in less than 500 words

      7 June 2022
    • Podcasts

      How your organisation can triage its information security risk

      22 June 2022

      Everything PC S01E06 – ‘Apple Silicon’

      15 June 2022

      The youth might just save us

      15 June 2022

      Everything PC S01E05 – ‘Nvidia: The Green Goblin’

      8 June 2022

      Everything PC S01E04 – ‘The story of Intel – part 2’

      1 June 2022
    • Opinion

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»Herman Singh said to be leaving MTN

    Herman Singh said to be leaving MTN

    News By Loni Prinsloo27 November 2018
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    MTN Group is set to lose another high-ranking executive over the next few months, according to people familiar with the matter, as Africa’s largest wireless carrier by sales fights more than US$10-billion of claims in its largest market of Nigeria.

    Chief innovation officer Herman Singh is expected to leave imminently, and will move on to start his own tech venture, said the people, who asked not to be identified as the information hasn’t been made public. The exit will come as chief technology officer Babak Fouladi prepares to join Dutch telecommunications firm KPN in a similar role next week.

    MTN confirmed Fouladi’s departure, which was announced by Rotterdam-based KPN earlier this month. Singh declined to comment.

    The executives are leaving after a three-year period of considerable turmoil at MTN

    The executives are leaving after a three-year period of considerable turmoil at MTN. A shock $5.2-billion fine in Nigeria in 2015 embroiled MTN in 10 months of negotiations and prompted a management overhaul. Then, earlier this year, authorities in the West African nation announced another round of multibillion-dollar demands.

    The stock has halved over the period, valuing the carrier at R169-billion. That’s even as demand for data services in Africa booms and MTN expands in fast-growing services such as mobile money.

    The shares declined a further 2% on Tuesday to R87.97 as of 12.10pm in Johannesburg.

    Top hires

    MTN CEO Rob Shuter hired Fouladi two years ago from Vodafone Group in Spain as he assembled a new team in the wake of the first Nigeria penalty, which was eventually reduced to about $1-billion. Singh, formerly with MTN’s crosstown rival Vodacom Group, was appointed in 2015.

    Another of Shuter’s appointments, Stephen van Coller, left MTN at the end of August to take the helm of technology firm EOH Holdings. Originally hired as head of mergers and acquisitions, the former banking executive was moved to run digital services before quitting less than two years into his tenure.

    Herman Singh

    MTN’s latest dispute with Nigerian authorities is over an allegation the company illegally transferred $8.1-billion out of the country and owes $2-billion in back taxes. While the transaction matter looks close to being wrapped up, with central bank governor Godwin Emefiele saying he’s on “the verge” of announcing an amicable resolution, the taxation claim is still outstanding.

    Other headaches for MTN include problems extracting cash from Iran, its third biggest market, after US President Donald Trump reinstated sanctions against the country. The carrier has also come under pressure to list country units on local stock exchanges, with Uganda the latest to link a share sale to licence renewals.  — (c) 2018 Bloomberg LP

    Babak Fouladi Herman Singh MTN Rob Shuter Stephen van Coller top
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleIBM joins Apple in blasting Silicon Valley for ‘trust crisis’
    Next Article ‘Intrusive and onerous’: Vodacom slams telecoms bill

    Related Posts

    Moves afoot to fix Eskom’s debt problem

    4 July 2022

    Audi South Africa to offer free connectivity upgrades

    4 July 2022

    Shock fuel price increase announced

    4 July 2022
    Add A Comment

    Comments are closed.

    Promoted

    The MSP value proposition has evolved – here’s why it matters

    4 July 2022

    Presenting the cloud finance in South Africa survey with AWCape and Sage

    4 July 2022

    The Equiano cable has landed

    4 July 2022
    Opinion

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Has South Africa’s advertising industry lost its way?

    21 June 2022

    Rob Lith: What Icasa’s spectrum auction means for SA companies

    13 June 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.