MTN Group requires that its executives buy and hold shares at a level in proportion to their annual fixed packages.
Browsing: Karl Toriola
Macroeconomic pressures are stifling financial performance while regulatory interventions restrict subscriber growth.
Executives at MTN Group have received millions of rand in shares as part of the firm’s performance share plan.
MTN Group CEO Ralph Mupita earned almost R15-million less last year than he did in 2021, but still walked away with R69.3-million in remuneration.
MTN Nigeria plans to invest R21-billion over the next three years to expand broadband access in Africa’s most populous country, its CEO said on Monday.
MTN Group’s Nigerian unit has reported a 27.6% increase in half-year Ebitda, despite a sharp decline in subscribers brought about by regulatory restrictions on new Sim sales and activations.
Lagos-listed MTN Nigeria Communications shed five million mobile subscribers in the first three months of the year as it struggled with customer churn and restrictions on Sim card sales and activations.
Rob Shuter, the former president and CEO of MTN Group, received R68.1-million in remuneration, including R30.1-million in bonuses, in his final eight months at the emerging-markets telecommunications giant.
MTN is in a race against time to get about half its subscribers to comply with the Nigerian government’s stipulation that their Sims be connected to their ID numbers by the end of the year.
Ferdi Moolman, the longstanding CEO of MTN Nigeria, MTN Group’s largest operating subsidiary, will step down from the role at the end of February 2021.