MTN Group CEO Ralph Mupita earned total remuneration in the 2021 financial year of R84.2-million – and he wasn’t the only top executive handsomely rewarded.
Browsing: Mcebisi Jonas
Telkom CEO Sipho Maseko was responding to questions about a news report which said MTN had made an approach to buy the company.
MTN Group recently expressed an interest in acquiring Telkom, Bloomberg News reported on Sunday, citing unnamed sources “familiar with the matter”.
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 Group has announced a R250-million “relief package” in response to the Covid-19 pandemic across the 21 markets in which it operates.
MTN has pledged to invest $1.6-billion (R23.4-billion) to expand its operations in Nigeria after settling the latest major dispute with authorities in its most profitable market.
Phuthuma Nhleko, the man who led MTN Group on an acquisition spree that turned the telecommunications operator into an emerging-markets giant, has stepped down from its board of directors.
An economy stuck in the longest downward cycle since World War 2, chronic electricity shortages and soft business confidence – after 20 months running South Africa, patience is wearing thin with Cyril Ramaphosa.
South Africa is in a precarious state and urgent action is needed to stabilise its finances, according to former deputy finance minister Mcebisi Jonas, who will assume the role of MTN Group chairman in December.
MTN Group’s biggest shareholder is pushing for changes at Africa’s largest mobile phone company to avoid the regulatory, legal and political disputes that have cut its share price by more than half over the past four years.