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MTN – Appointment of new Group Chief Risk Officer and MTN Nigeria Chief Executive Officer
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(Share code MTN)
(ISIN: ZAE000042164)
(“MTN” or “the Group”)
Appointment of new Group Chief Risk Officer (“GCRO”) and MTN Nigeria Chief Executive Officer
(“CEO”)
Ferdi Moolman appointed as the new Group Chief Risk Officer
Ferdi Moolman will step down from his role as MTN Nigeria CEO with effect from 1 March 2021 and
will return to the head office in South Africa to assume the GCRO role on the same date. The role will
include responsibilities as a prescribed officer in terms of the South African Companies Act, 2008 (Act
No. 71 of 2008).
Ferdi (57) joined MTN in 2002 and has held several senior positions within the Group in Nigeria and in
Iran. He has spent the past five years as the CEO of MTN Nigeria and during that time, significant
progress has been made in stabilizing the business and setting it on a sustainable growth path.
The management of enterprise-wide risk is integral to MTN’s growth strategy and Ferdi will bring
extensive operational and financial experience to the role given his deep knowledge of the Group, its
markets and the telecoms sector. As such, this appointment establishes the role of a chief risk officer
as an integral part of the executive committee (“EXCO”), on which Ferdi will continue to serve. Ferdi
will also remain on the board of MTN Nigeria and will in due course be appointed to other material
subsidiary boards given his new Group responsibility.
Karl Toriola appointed as the new MTN Nigeria CEO
MTN is pleased to announce the appointment of Karl Toriola as the MTN Nigeria CEO, effective
1 March 2021. Karl is currently Vice President: West and Central Africa (“WECA”), which he has held
for the past five years. During that period, he has overseen the steady progress of the operating
companies (“OpCo’s”) in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon
over the past two years.
In addition, the WECA markets have made significant commercial and strategic strides, including the
improvement of market shares within the region and the development of mobile financial services,
which is an important driver of the Group’s medium to long-term growth strategy.
Karl (48) has also held a number of senior operational roles at MTN, since joining the Group in 2006,
including Chief Technical Officer of MTN Nigeria and CEO of MTN Cameroon. He is also a board
member on a number of the companies within the Group, including MTN Nigeria.
Karl’s successor as Vice President for WECA, will be announced after the group strategy review is
completed by the end of November 2020.
“Karl brings extensive technical and commercial experience, as well as a deep understanding of the
Nigeria market to the role,” commented MTN Group President and CEO Ralph Mupita. “Karl started
his MTN career in his home country at MTN Nigeria 14 years ago and has all the attributes necessary
to lead this very important business into the future.”
“Ferdi has been an exemplary leader of MTN Nigeria and has put the business on a sound growth
platform for the future,” said Mupita. “He brings significant strategic, financial and operational
experience to the new group risk role, where we want to ensure that our enterprise-wide risk
management systems are continuously strengthened and remain resilient as we drive our growth
strategy.”
Karl has a BSc Hons in Electronic and Electrical Engineering and a MSc in Communication Systems.
Ferdi has a BCom and BCompt: He is a CA(SA). Both will remain members of the Group’s EXCO.
Fairland
26 October 2020
Lead sponsor
Tamela Holdings Proprietary Limited
Joint sponsor
JP Morgan Equities South Africa Proprietary Limited
Date: 26-10-2020 09:30:00
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