Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Business of Tech

Telkom SA CFO quits to join MTN

Article Image
MTN has announced that Tsholofelo Molefe will come on board next year as group CFO, just hours after Telkom SA announced she had resigned.

MTN said in a statement late on Friday that Molefe will take up the position "as soon as practically possible in 2021, but by no later than October 1, 2021".

Earlier in the day, Telkom announced that Molefe had resigned as group CFO "to pursue other interests."

She joined Telkom in July 2016 as deputy CFO and was appointed as group CFO two years later. Telkom said that Openserve CFO Dirk Reyneke will take over as acting group CFO on December 7, 2020.

Prior to working at Telkom, Molefe was the finance director at state power utility Eskom as well as the CFO for First National Bank's Personal Banking division.

Molefe will also join the MTN Group board and take over from Sugentharan Perumal, who has been acting in the position of group CFO since 1 September 2020, after former CFO Ralph Mupita was announced as the new group president and CEO of MTN.

"We are thrilled to have an executive of Tsholofelo's stature join us. The board is confident that she has the experience required for the position. She will play a critical role in the growth of the business and unlocking of shareholder value," said Mupita.

More changes

MTN also announced a few other changes to its regional structure after completing a comprehensive review of the group strategy "with a focus on accelerating growth, deleveraging the holding company debt and unlocking value."

As of January 1, 2021, MTN Ghana will become part of the group's West and Central Africa (WECA) region. From that date, MTN's Southern and East Africa and Ghana (SEAGHA) region will be known as the Southern and East Africa (SEA) region.

Ebenezer Asante, the SEAGHA VP since 2017, will become the new WECA VP, and Yolanda Cuba, the group's current chief digital and fintech officer, will take the helm as the SEA vice president.

"The SEA region is critical to MTN's growth ambitions and presents a good opportunity for growth in mobile financial services. It also has the largest potential for further expansion," MTN said.

Serigne Dioum, who is group executive for mobile financial services, will become group chief digital and fintech officer.

Kholekile Ndamase, group executive for mergers and acquisitions (M&A), will assume the new role of group chief M&A and business development officer.

"Not only do these appointments safeguard continuity in the growth of our leading and scale connectivity business on the African continent, but, importantly, also support the acceleration of our digital platforms, de-risking of the business and unlocking of value. I am also particularly pleased with our continued steady progress in adding to the representation of women in our senior leadership team, which underlines MTN's strategic focus on diversity and inclusion," added Mupita.

*Top image is of Tsholofelo Molefe. (Source: Telkom.)

— Paula Gilbert, Editor, Connecting Africa

Innovation hub

Story

Hot startup of the month: Nigeria's Tech Herfrica

Connecting Africa's hot startup is Nigeria's Tech Herfrica, a social impact organization that focuses on the digital and financial inclusion of women and girls in rural areas of Nigeria.

Story

Omdia View: February 2024

Highlights in February 2024 in the Middle East and Africa included 5G launches in Senegal and 5G trials in Egypt as well as Kenya's first 5G MVNO. Airtel also launched a new wholesale connectivity business while MTN and Huawei are planning a joint Innovation Technology Lab in South Africa – that and more in this month's Omdia View.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Industry announcements

More Industry announcements

Upcoming events

Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives

Story

Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

Story

The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives

Story

Omdia View: February 2024

By Omdia Analysts

Highlights in February 2024 in the Middle East and Africa included 5G launches in Senegal and 5G trials in Egypt as well as Kenya's first 5G MVNO. Airtel also launched a new wholesale connectivity business while MTN and Huawei are planning a joint Innovation Technology Lab in South Africa – that and more in this month's Omdia View.

Story

Omdia View: January 2024

By Omdia Analysts

Highlights in January 2024 in the Middle East and Africa included a $200 million fintech deal between MTN and Mastercard as well as 5G network trials by Telecom Egypt – that and more in this month's Omdia View.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up
Tag id test-002