AFRICA – MTN Group, a telecommunication company, has announced the appointment of Adekunle Awobodu as our new Chief Financial Officer for Digital and FinTech.
Kunle is a seasoned business and finance professional who has spent most of his career at MTN, including serving as CFO for MTN Nigeria and for the MTN Irancell joint venture.
“We are thrilled that Kunle has joined the dynamic DigiFin team and look forward to what we know will be a valuable contribution,” says MTN Group Chief Digital and Fintech Officer Serigne Dioum.
In his 22 years in management roles, Kunle has built processes, teams and dealt with regulatory and compliance issues. Most recently, from 2019 to 2021, he was an Executive Consultant at MTN Nigeria, where he led Oracle implementation and provided support to the CEO and CFO on various financial, tax and accounting matters.
Kunle is a certified General Accountant and has a Bachelor’s degree in Finance and Banking from the University of Lagos, as well as a Master’s in Finance from the University of Leicester. He also holds several professional certifications.
As CFO for Digital and Fintech, effective 15 September 2021, Kunle’s responsibilities include ensuring the growth of these platforms in line with the Group’s strategic intent – Ambition 2025: Leading digital solutions for Africa’s progress.
MTN GROUP said that it expects to spin off its FinTech Business before the end of the first quarter in 2022. In March, MTN announced plans to spin off its FinTech Business.
“The FinTech separation project is progressing well, in line with our Ambition 2025 strategy,” Ralph Mupita, MTN Group CEO, said.
“MTN Rwanda recently received a license to operate a separate fintech entity bringing the number of separated entities to 12 (out of 16 fintech markets).
“We continue to progress our work in establishing the Topco structure for fintech and anticipate that the process of finalising a separated Group fintech structure will be completed before the end of Q1 2022.”
The company said it delivered growth in FinTech and digital revenue of 31.1% and 32.3% respectively, supported by increased adoption and usage of digital channels and offerings. Fintech revenue contributed 8.7% to total Group service revenue.