Globacom, one of Nigeria’s leading telecom operators, is reportedly set to appoint Ahmad Farroukh, a seasoned telecom executive with deep roots in African telecommunications, as its new chief executive officer.
This is the first time the company will experience a leadership transition since its founding by billionaire Mike Adenuga in 2003.
Though the company has not yet released an official statement, sources confirm that Globacom has already informed the Nigerian Communications Commission (NCC) of its decision and assembled a new board, with regulatory approval now in place.
Globacom’s choice to bring in Farroukh reveals an intention to revitalise its market position as increased competition and recent challenges continue to shoot up.
Farroukh’s experience spans over two decades, beginning in 1995 with the Investcom Group in Lebanon, which was later acquired by MTN. He then took on key roles across the continent, including his tenure as managing director of MTN Ghana, regional director for West Africa, and CEO of MTN Nigeria from 2006 to 2010.
He also served as CEO of MTN South Africa in 2014 and later led Mobily in Saudi Arabia as CEO from 2015 to 2017. Most recently, Farroukh was Group CEO at Smile Communications Nigeria Limited.
With a Master’s degree in Business Administration and Accounting from the Lebanese American University and credentials as a Certified Public Accountant (CPA) in New York, Farroukh’s academic and professional expertise is widely regarded in the industry.
His record of leadership in high-stakes environments makes him well-suited for his latest role at Globacom, where Ahmad Farroukh will face the immediate challenge of reversing subscriber losses.
Globacom’s subscriber base has significantly dwindled to 19.1 million, attributed to a recent NCC industry-wide audit, giving the company just 12.39% of Nigeria’s telecom market.
This anticipated leadership transition could be announced officially within days, as Globacom seeks to regain market share and drive growth in the dynamic Nigerian telecom sector.
