Globacom, one of Nigeria’s leading telecommunications providers, has appointed telecom veteran Ahmad Farroukh as its new Chief Executive Officer.
Techeconomy had reported Globacom’s decision to appoint Ahmad Farroukh to lead the company’s transformation drives.
This leadership change aims to strengthen the company’s corporate governance and operational performance, aligning with the Nigerian Communications Commission‘s (NCC) recent drive for improved governance standards within the telecom industry.
Farroukh’s extensive experience in African telecommunications positions him as a strong candidate to guide the company through an anticipated restructuring.
Farroukh’s impressive telecom background
Ahmad Farroukh brings over two decades of experience to Globacom. He began his career in 1995 as CEO of Investcom Group, a Lebanon-based telecom entity that was later acquired by MTN Group.
He has held several executive roles, including managing director at MTN Ghana, regional director for West Africa under Investcom, and CEO of MTN Nigeria between 2006 and 2010.
After serving as CEO of MTN South Africa in 2014, he led Mobily in Saudi Arabia, Saudi’s second-largest telecom provider, until 2017. Most recently, he served as Group CEO of Smile Communications Nigeria Limited in 2019.
Farroukh’s academic background includes a Master’s degree in Business Administration and Accounting from the Lebanese American University, and he is a Certified Public Accountant (CPA) from New York.
Strategic reforms to address operational and subscriber base challenges
Globacom’s decision to appoint Farroukh comes at a critical time as the company faces challenges with its subscriber base. A recent regulatory audit by the NCC uncovered subscriber count discrepancies, which led to a sharp reduction in Globacom’s subscriber count by 69.2 percent within six months, down from 62.19 million in March to 19.15 million in September. This change underscores the need for strategic reforms to restore confidence and drive growth in a competitive telecom landscape.
Farroukh’s role will not only involve revitalizing Globacom’s subscriber growth but also guiding the telco through structural adjustments. The company’s move to constitute a board reflects a deeper commitment to fostering robust governance practices, a key aspect emphasized by the NCC.
The appointment of Farroukh marks a significant move in Nigeria’s telecom sector, where industry players are increasingly pressured to adopt transparent and regulated operational practices. Globacom’s overhaul could set a precedent for other telecom operators, especially as the NCC continues its push for corporate governance reforms to stabilize Nigeria’s telecom industry.
With a track record in successfully managing high-stakes telecom operations across Africa, Farroukh is expected to implement a governance and growth-oriented strategy that positions Globacom for long-term success.
This leadership transition aligns with broader industry trends focused on accountability, making Farroukh’s experience and governance emphasis vital to Globacom’s future in Nigeria’s fast-evolving telecom landscape.
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