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Ralph Mupita, president and CEO of MTN Group, Africa’s leading telecom services provider, has not only been successful in earning millions of dollars in salary but has also made significant gains from his shares in the company.
According to data tracked by Billionaires.Africa, the Zimbabwean executive has accumulated $1.01 million from his stake in MTN Group over the past two months, solidifying his position as one of the titans in the African telecom sector.
The surge in the market value of Mupita’s minority 0.043-percent stake in MTN Group can be attributed to renewed investor interest, which has propelled the group’s shares up by more than 22 percent in the last 60 days.
MTN shares on the Johannesburg Stock Exchange rose from R109.35 ($5.8) on May 11, two months ago, to R133.93 ($7.1) at the time of writing.
With MTN shares currently trading at R133.93 ($7.1) per share, the group’s market capitalization stands at R252 billion ($13.41 billion). Consequently, Mupita’s 0.043-percent stake is now valued at R103.7 million ($5.5 million), representing a rise of R19.03 million ($1.01 million) since May 11, when its value was R84.6 million ($4.49 million).
The sizable value of Mupita’s stake in MTN cements his status as one of Southern Africa’s richest corporate executives. Having assumed the role of group president and CEO on Sept. 1, 2020, following his previous position as CEO, Mupita has played a pivotal role in bolstering MTN Group’s financial standing, shaping its strategic direction, and overseeing its successful listing on the Nigerian and Ghanaian stock exchanges.
Under Mupita’s leadership, MTN Group, Africa’s largest mobile network operator, has witnessed remarkable growth, serving more than 289 million customers across 19 markets with voice, data, fintech, digital, enterprise, wholesale, and API services.
In 2022, the company reported profits of R24.26 billion ($1.29 billion) and revenues of R207 billion ($11 billion), a significant increase from R19.65 billion ($1.04 billion) and R179.36 billion ($9.5 billion) in 2020, respectively.
With his continued dedication and the upward trajectory of MTN Group, Mupita’s reputation as a key player in the African telecom industry is poised to strengthen further, solidifying his position as a respected and influential leader.
