Telecom giant MTN in board shake up

SOUTH AFRICA – Africa’s biggest mobile operator MTN Group has announced some changes to its board of directors.

In a statement to shareholders, the company said it is pleased to announce the appointment of Nosipho Molope as an independent non-executive director of MTN Group, effective, 1 April 2021.

MTN indicated that Molope holds a Bachelor of Science from the University of the Witwatersrand (BSC Med) as well as a Bachelor of Accounting Science (Hons) (CTA) from the University of South Africa and is a Chartered Accountant (SA).

It pointed out that she has a wealth of experience in telecommunications, packaging, agricultural and petrochemical sectors.

Having been a director and chairman of the audit and risk committees in various MTN operating companies, she is well-versed in the challenges and complex regulatory requirements of the markets where MTN operates, says the operator.

The statement added that Molope currently serves on the boards of several MTN operating companies, including South Africa, Uganda, Rwanda, Zambia and eSwatini.

In addition, she is a board member of Old Mutual and South32 Coal Holdings as well as Engen.

“She is commercially astute and has a deep level of technical accounting knowledge with an objective and broad-minded approach that stems from her multi-sector experience as well as her exposure to diverse cultures,” the company said.

It is anticipated that Molope will resign from all MTN operating companies by 31 March 2021, including MTN SA.

MTN SA is at an advanced stage in identifying her replacement, as audit and risk chairman.

“She is commercially astute and has a deep level of technical accounting knowledge with an objective and broad-minded approach that stems from her multi-sector experience as well as her exposure to diverse cultures”

“The chairman and the board believe her extensive experience and knowledge of MTN is invaluable and her contribution will greatly enhance the board’s deliberations,” added MTN.

The company also announced the appointment of Noluthando Gosa as an independent non-executive director of MTN Group, effective, 1 April 2021.

According to MTN, Gosa holds a BA (Hons) Communications from the University Of Fort Hare, has completed a Post Graduate Diploma in Business Administration at Wilfrid Laurier University and has an MBA from the University of New Brunswick.

“She has solid experience in telecommunications. In 1997, she was appointed as a founding member of the first independent telecommunications regulator, ICASA and was one of six councilors tasked to set up the regulator in South Africa. Noluthando then joined Investec Bank and spent three years as a sell-side analyst, focusing on the telecommunications sector,” read the statement.

“Noluthando is also an extremely experienced deal maker and businesswoman, having spearheaded numerous joint ventures and acquisitions in multiple sectors and having enjoyed considerable success as an entrepreneur. In parallel, she has served on multiple boards, including Investec Asset Management (now NinetyOne); AON SA and Broll Property Group,” said MTN.

Pursuant to her entrepreneurial success, Gosa is currently the chief executive officer of Akhona Group and is serving as a director on various companies where she is a shareholder. She is also a non-executive director of ArcelorMittal SA.

“The chairman and the board believe Noluthando’s entrepreneurial spirit and strategic outlook will be key to the board, in light of MTN’s growth aspirations. Her unique telecommunications experience will also bring a new perspective to the board,” the statement concluded.

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