MTN, led by Zimbabwean exec Ralph Mupita, seeks boost in intra-African trade

Timilehin Adejumobi -
Key Points
  • MTN Group, led by Ralph Mupita, remains committed to its Pan-African vision, focusing on connectivity, economic growth, and intra-African trade.
  • MTN Chairman Mcebisi Jonas highlighted the importance of strong South Africa-Nigeria ties to anchor pan-Africanism and address inequalities fueling xenophobia.
  • Despite a pan-African vision, MTN reported a $542-million loss in 2024, impacted by the Nigerian naira's devaluation.

MTN Group, Africa’s largest mobile network operator, is doubling down on its Pan-African focus under the leadership of Zimbabwean executive Ralph Mupita. The telecom giant is championing initiatives that promote intra-African trade and connectivity, seeking to drive economic growth across the continent.

Promoting pan-Africanism and addressing inequality

During a recent Media Innovation Programme (MIP-3) in South Africa, MTN Chairman Mcebisi Jonas reaffirmed the company's commitment to pan-African initiatives. He stressed the importance of media in shaping Africa’s narrative and promoting democracy. “At MTN, we proudly embrace our pan-African identity,” Jonas said, emphasizing the media’s role in uniting the continent.

Jonas, who previously served as South Africa’s deputy finance minister, highlighted the necessity of strong ties between South Africa and Nigeria to anchor pan-Africanism. “Unity is essential for our collective future,” he stated, pointing to economic and political collaboration as key drivers of regional stability.

Addressing the rising issue of xenophobia, Jonas identified growing inequality and “demographic anxiety” as root causes of social tensions. He called for job creation within the digital economy and greater inclusivity to curb xenophobia. “The digital economy is central to broadening participation in Africa’s growth,” he added.

Mupita’s leadership amid telecom sector hurdles

Under CEO Ralph Mupita, MTN Group has reached more than 288 million subscribers across 18 markets, solidifying its position as Africa’s telecom giant. Mupita’s leadership has been instrumental in advancing MTN’s expansion, with his stake in the company valued at $4.1 million.

MTN recently renewed leases with IHS Holding, covering 26,000 sites across six African nations, following a year of strained relations. However, the company faces new legal challenges, with Turkish telecom operator Turkcell reviving long-standing litigation against MTN.

Despite its broad reach, MTN reported a R9.67-billion ($542 million) loss for the first half of 2024, marking its first loss since 2016. The decline was primarily driven by the devaluation of the Nigerian naira, a significant blow compared to the R4.43 billion ($248.4 million) profit reported during the same period in 2023. This financial downturn highlights the difficulties posed by currency volatility in key markets.