On February 1, 2023, MTN Nigeria announced Kate Ene David as its CEO for a day following her emergence as the winner of the 2022 MTN mPulse Spelling Bee out of over 11,000 participants who registered for the competition. 11,000! Yes, you just read that.

Kate, an inspiring 14-year-old student from Intimacy with Christ Secondary School, Mararaba, Nasarawa State, assumed leadership of Africa’s largest telecommunication network at 9am on Wednesday.

From our CEO for a day, Ene Kate David to you, welcome to the month of love and happy new month! #MTNmPulseSpellingBee pic.twitter.com/p1VwS5k9Mh

— MTN Nigeria (@MTNNG) February 1, 2023

In his symbolic handover, Karl Toriola applauded Kate’s brilliance while reiterating the purpose of the initiative, “It has always been our brand commitment to support the government and educational institutions in producing students that are primed for global competitiveness. With that in mind, I am confident that our CEO for a day is on the path to a great future. We are happy to be a part of what promises to be an extraordinary journey.”

In her capacity as the CEO, Kate has met with MTN’s executives, and members of the media where she announced key initiatives, including the unveiling of additional mPulse education data bundles.

“The opportunity to be MTN Nigeria’s CEO is a dream come true. It means a lot to me that I have made myself, my parents, and my school proud as a young CEO. I am certain that what I have learned here will prepare me for a brighter future”, Kate stated, when asked what the CEO position meant to her.

In addition to her CEO status, she has been awarded a N2.5m scholarship grant, a laptop, smartphone, and an MTN goody bag. MTN also presented a N350,000 grant and state-of-the-art ICT devices to her English teacher and school respectively.

Rounding off the event, the Chief Human Resource Officer, MTN Nigeria, Esther Akinnukawe appreciated the staff members for their warm hospitality. “We can all admit that today was significant, especially because of the lasting impact this event will have in the life of Kate and how much of an inspiration it will serve to the young ones out there. At MTN, we believe that everyone deserves the benefits of a modern, connected life and will continue to provide opportunities that support students to learn and grow.”

The MTN mPulse Spelling Bee is a self-development proposition designed by MTN Nigeria to promote digital literacy and academic excellence and thus empower the nation’s educational sector.

PHOTO NEWS from the event:

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In a regulatory filing released on April 7, MTN Group confirmed that several senior leaders received ordinary shares under its Performance Share Plan.

The awards were made on March 31, 2026 and come with conditions that tie them to future results.

The biggest allocation went to group chief executive Ralph Mupita, who received 207,633 shares valued at about $2.4 million. The shares will only vest after three years, provided performance targets are met.

Other senior executives also received large grants. Group finance chief Tsholofelo Molefe was awarded 111,931 shares, while Ebenezer Asante received 120,880 shares.

In Nigeria, Karl Toriola was allocated 28,704 shares, worth around $335,000 at the time of the award.

The shares were priced at $11.77 (R192.50) each. Like others in the scheme, they will only become accessible after a three-year period.

MTN said all the share awards were granted off-market and carry direct beneficial interest for the recipients. The vesting date has been set for December 2028.

The filing also shows that executives in key markets receive more than one layer of incentives. In addition to group-level shares, both Toriola and Modupe Kadri are entitled to long-term incentives linked to MTN Nigeria itself.

Across the group, directors and senior officers in South Africa and Ghana were also included in the latest round of awards. These include executives overseeing major subsidiaries and company secretaries, all under the same plan structure.

MTN’s share plan has been in place since 2010. It is designed to reward senior staff while keeping them focused on long-term performance.

The company requires recipients to meet set targets before the shares fully vest, and some may be forfeited if those targets are not achieved.

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The disruptions resulted from a national challenge where MTN recorded 5,478 fibre cuts in just the first seven months of 2025, with 760 incidents in July alone.

This was largely caused by road construction and deliberate vandalism, with some of these incidents knocking out services across multiple states simultaneously.

Meanwhile, the technology company leading telecommunications company in the country resolved record 1,624,263 customer complaints across calls, social media, emails, and walk-in centres in 2025.

“Some of those gaps were shaped by real operational challenges such as fibre cuts, theft, and vandalism. Their impact is felt directly by customers and reflected in what they tell us,” Dr Karl Olutokun Toriola, MTN Nigeria CEO, wrote on LinkedIn.

Despite these challenges, the company also pointed to areas of strength. MTN retained recognition as the best network from Ookla, returned to profitability, declared an interim dividend, and grew its subscriber base to over 85 million by September, showing stability that enables further improvements.

Nonetheless, MTN Nigeria acknowledges there is more work to be done.

“We are not where we want to be yet. We see you. We hear you. We exist because of you. And we will get better,” Toriola added.

The telecom giant is entering its 25th year, and its focus is embedded in listening to customers, addressing operational pressures, and consistently improving the user experience.

Dr. Toriola reiterated MTN Nigeria’s resolve to continue to treat every piece of feedback as a guide for progress, calling on regulators and policymakers to strengthen protections for telecom infrastructure and even criminalise vandalism to prevent further network disruptions.

The Nigerian Communications Commission (NCC) has also flagged vandalism and theft as major threats to service quality nationwide.

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This historic occasion marks the first time the world-famous Most Influential 100 Recognition & Awards Ceremony, traditionally held in New York on the sidelines of the United Nations General Assembly (UNGA), will be hosted in Lagos, Nigeria.

The week will feature events such as Diaspora Day at the Fela Exhibition (Afrobeat Meets Diaspora), Cultural Heritage Day, and Business Leadership Luncheons, all culminating in the awards celebration.

The evening will honor the Best & Brightest of the Year, recognizing exceptional individuals and institutions whose work has advanced Global African Achievement and Black Excellence across business, government, media, culture, and technology.

Key Recognitions for 2025

• Governor of the Year & City of the Year: Babajide Sanwo-Olu, Governor of Lagos State, honored alongside Lagos as City of the Year for its global leadership in culture, innovation, tourism, and diaspora engagement.
• Hannatu Musa Musawa, Minister of Art, Culture, Tourism and Creative Economy, will be honoured as Minister of the Year for her contribution to the creative economy’s role in nation branding and cultural diplomacy.
• Most Influential Woman of the Year: Olorì Atúwàtse III, Queen Consort of the Warri Kingdom
• Most Influential Man of the Year: Adewale Tinubu, Group Chief Executive, OANDO
• CEO of the Year: Karl Toriola, Chief Executive Officer of MTN Nigeria; who will deliver a keynote address, recognized for his transformative leadership and impact on Nigeria’s telecommunications and digital economy.

Others include; Karl Toriola of MTN as CEO of the year, Uche Pedro of Bella Naija as Lifestyle Personality Of The Year, Ojy Okpe of Artise News as Most Influential News Anchor Of The Year, Stephanie Busari as Media Executive of the Year, Kayode Okikiolu as Pressman of the year, Davido as Artist of the year and several others.

In celebrating this year’s honorees, Michael Ehindero, managing director, Pernod Ricard Nigeria,  owners of Martell Cognac, who emerged as Brand Of The Year expressed deep appreciation for the brand’s continued global recognition, saying:

“It’s a great reward for the team who’s delivered Martell excellently in Nigeria over the years. We say thank you to the teams, we say thank you to our consumers and we say thank you to MIPAD. Martell has a lot of promising experiences in the years to come in Nigeria and with this we invite you over to Nigeria to experience Detty December”.

The ceremony will also celebrate the achievements of the Class of 2025 Honorees, alongside past Nigerian honorees who were unable to attend their year of recognition in New York.

“For the first time, we’re bringing our world-famous recognition platform home to celebrate excellence within the Global Africa Family, right here in Lagos,” said Kamil Olufowobi, founder & chairman of MIPAD. “This is more than an event; it’s a movement uniting the best of us, connecting, collaborating, and working together to change the world.”

Event Details

Lagos, Nigeria: Friday, Dec 19 – #DettyDec Diaspora Day at Fela Exhibition FREE

Sunday, Dec 21 – End of Year Recognition & Award Ceremony STRICTLY BY INVITATION

The Most Influential People of African Descent (MIPAD) is a global civil society initiative in support of the United Nations’ International Decade for People of African Descent (2015–2034). MIPAD identifies and celebrates high achievers of African descent worldwide, fostering global recognition, connection, and collaboration.

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Recall that in May 2023, MTN Nigeria secured approval by the Nigerian Communications Commission (NCC) for spectrums lease transaction between the company and the NTEL at transaction value of N4.25 billion, including taxes, regulatory fees and ancillary charges.

With the approval, MTN leased NTEL’s 5MHz Frequency Division Duplex (FDD) in the 900MHz Spectrum band and 10MHz FDD in the 1800MHz Spectrum band covering 19 States.

The transaction is for a period of two years, effective 1 May 2023, at a cost of N4.25 billion.

In a notice to the Nigerian Exchange Limited and the investing public, Uto Ukpanah, the company secretary, MTN Nigeria wrote: “

The Nigerian Communications Commission (NCC) has approved the renewal of the spectrum lease agreement between MTN Nigeria and Natcom Development and Investment Limited (NTEL).

“This agreement covers the lease of NTEL’s 5MHz frequency division duplex (FDD) in the 900MHz spectrum band and 10MHz FDD in the 1800MHz spectrum band, which spans 19 states. The renewal is for another two-year period, effective 1 May 2025.

“Additionally, the NCC has approved a one-year lease expansion of the spectrums, covering the remaining 17 states and the Federal Capital Territory (FCT), effective 1 January 2025.

Commenting on the transactions, Karl Toriola, CEO of MTN Nigeria said:

“We are pleased with the renewal of the spectrum lease agreement with NTEL, which now includes coverage for all states, including the FCT. The lease enables us to enhance our 3G and 4G user experience as we improve coverage and capacity by utilising the spectrums. This positions us to capitalise on the growing demand for data and improve the delivery of services to our customers.”

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At the heart of these changes is the appointment of Dr. Karl Toriola, CEO of MTN Nigeria, to an expanded role as Vice President of Francophone Africa, where he will oversee growth and market share expansion across Cameroon, Côte d’Ivoire, Benin, and Congo Brazzaville.

Toriola, who previously held responsibilities across MTN’s West and Central Africa operations, brings deep experience to this new assignment.

His dual role underscores the Group’s commitment to Francophone markets, which remain key growth engines within Africa’s evolving digital economy.

Adapting to a Shifting Landscape

The announcement follows months of strategic review by MTN’s board, which evaluated the progress of Ambition 2025 in light of shifting geopolitical, macroeconomic, and technology trends.

While challenges remain, MTN sees enormous opportunity to accelerate Africa’s digital future by focusing on three core platforms: Connectivity, Fintech, and Digital Infrastructure.

Group President and CEO, Ralph Mupita, explained:

“These leadership changes illustrate the depth of talent and experience across MTN. They position us to execute with greater focus, deliver accelerated growth beyond 2025, and create long-term value for all stakeholders.”

Key Executive Changes

To strengthen execution, the Group has restructured its executive committee (Exco) effective 1 November 2025:

• Karl Toriola – CEO, MTN Nigeria and VP of Francophone Africa, leading operations in Nigeria, Cameroon, Côte d’Ivoire, Benin, and Congo Brazzaville.
• Ebenezer Asante – VP of Ghana and Southern & East Africa (SEA), focusing on accelerating growth in Ghana, Uganda, Rwanda, Zambia, South Sudan, Sudan, Liberia, and joint ventures in Eswatini and Botswana.
• Ferdi Moolman – appointed CEO and Executive Director of MTN South Africa, succeeding Charles Molapisi.
• Yolanda Cuba – moves from Group Exco to Deputy CEO and Executive Director of MTN South Africa.
• Tsholofelo Molefe, Group CFO, takes on expanded responsibilities, now overseeing mergers & acquisitions alongside capital allocation.
• Selorm Adadevoh – becomes Group Chief Commercial, Strategy and Transformation Officer.
• Mazen Mroué – remains CEO of Digital Infrastructure, with sharper focus on fibre, data centres, tower partnerships, and non-terrestrial networks.
• Charles Molapisi – returns to his former role as Group Chief Technology and Information Officer, with a new mandate to accelerate AI adoption across MTN operations.

Strengthening MTN South Africa

MTN’s South Africa operations also enter a new era. Ferdi Moolman, who led MTN Nigeria between 2016 and 2021, now takes the helm of MTN South Africa to drive growth and maximize returns, supported by Yolanda Cuba as Deputy CEO.

Together, they will build on the resilience demonstrated under Molapisi’s leadership during a period of crippling power outages.

In governance changes, Sindisiwe (Sindi) Mabaso-Koyana will succeed Mike Harper as Chairperson of MTN South Africa in Q1 2026, ensuring a smooth leadership transition as Harper prepares to retire.

Unlocking Africa’s Digital Future

The leadership shuffle reflects MTN’s sharpened focus on growth opportunities across its three platforms. Within Connectivity, the Group will target homes and streamline digital offerings; in Fintech, it will scale its digital-first business; and through Digital Infrastructure, it will expand fibre, data centres, and leverage AI to create value.

“As we look beyond 2025, our strategic focus on Connectivity, Fintech, and Digital Infrastructure will allow us to unlock Africa’s digital future. These leadership changes strengthen our ability to deliver,” Mupita added.

Looking Ahead

With its new executive structure, MTN is positioning to scale emerging businesses, deepen financial inclusion, and accelerate digital adoption across Africa.

By placing experienced leaders like Karl Toriola at the forefront of strategic regions, MTN aims to build resilience, seize structural growth opportunities, and reinforce its position as Africa’s leading digital operator.

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The Johannesburg-based telecoms giant now expects its service revenue to grow by at least “high teens” in the medium term, an upgrade from its previous “mid-teens” guidance. 

For the first half of 2025, service revenue climbed 22% to R105.1 billion ($5.97 billion), with Nigeria, Ghana, and Uganda driving the surge for MTN Group. Total revenue increased 20% to R109.26 billion. 

The company swung back to profitability, recording R9.7 billion after reporting a R7.39 billion loss a year earlier when currency fluctuations weighed heavily on performance.

MTN’s strong rebound shows what management describes as a disciplined push into high-growth areas. Its fintech operations remain one of the brightest spots, with Nigeria delivering a 71.8% jump in revenue to N83 billion, powered by airtime lending and customer deposits. 

Connectivity also saw heavy investment, including 3,700 new sites rolled out in the first half of the year, 327 of which were 5G-enabled. The company is also scaling its digital infrastructure portfolio, anchored by the launch of the Dabengwa Tier III Data Centre, part of a $240 million infrastructure programme spanning fibre and satellite services.

With growth accelerating, the company has reorganised its leadership to match its evolving strategy. Ferdi Moolman, who previously led MTN Nigeria and is currently Group Chief Risk Officer, will take over as CEO of MTN South Africa. 

Charles Molapisi returns to the role of Group Chief Technology and Information Officer, with a mandate to drive artificial intelligence adoption across operations. Mazen Mroué will now focus entirely on digital infrastructure, overseeing MTN’s fibre and data centre expansion. 

Meanwhile, Karl Toriola, CEO of MTN Nigeria, has been handed additional responsibility for Francophone Africa, including Cameroon, Côte d’Ivoire, and Benin.

The company said the changes align with its Ambition 2025 plan, which aims to transform MTN into Africa’s leading digital platform. By simplifying operations and strengthening leadership across its core platforms, MTN is positioning itself to capture opportunities in financial inclusion, broadband expansion, and technology-driven services.

“The executive changes are about positioning our leadership team to accelerate our strategic priorities,” MTN said in its update.

The tech giant is no longer simply chasing growth in traditional telecoms; its focus is now on a future where data, financial services, and infrastructure will bolster competition, not just against African competitors, but against global tech giants eyeing the continent.

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At the close of trading today, MTN Nigeria’s share price surged to ₦480, marking a ₦8 increase or 1.69% gain on the day.

This milestone reflects not just investor confidence, but the company’s sustained operational excellence and strategic execution in a challenging macroeconomic environment.

A Year of Unrelenting Growth

MTN’s stock performance has been nothing short of stellar:

• Year-to-date (YTD): +136.00%
• 1-year growth: +148.42%
• 5-year growth: +300.34%

The company’s momentum has accelerated in recent months, with a 32.03% rise in the past month and 88.80% growth over the last quarter, driven by strong financial results, aggressive network investments, and renewed investor optimism.

Market Dynamics

• Best Buy Price: ₦480.5
• Best Sell Price: ₦485.9

These figures reflect heightened demand and liquidity around MTN shares, as institutional and retail investors continue to rally behind the telecom giant’s long-term prospects.

Strategic Execution Pays Off

MTN Nigeria’s H1 2025 financial results revealed a 54.6% increase in service revenue, 119.5% jump in EBITDA, and a return to profitability with ₦414.9 billion PAT.

The company’s aggressive capex strategy, ₦565.7 billion in H1 alone, has fueled subscriber growth, data expansion, and fintech innovation.

This is not surprising based on what was said in the company’s H1 results released on Wednesday.

MTN’s CEO, Dr. Karl Toriola’s vision of restoring the company’s balance sheet and scaling digital infrastructure is clearly resonating with the market.

Commenting on the financial report, Dr. Toriola said:

“We are excited by the progress made in the first half of 2025, reflecting the successful execution of the strategic priorities we previously communicated to the market. Building on the momentum from the first quarter, we delivered strong growth in service revenue for the period under review. This was driven by robust demand for our services, proactive customer value management and price adjustments, mainly in Q2. In reinforcing this growth, we accelerated investment in our network to enhance capacity, coverage and quality of experience.

We also continued to execute efficiency initiatives to further accelerate the recovery of our profitability. In light of the strong momentum in our business,…and we remain firmly on track to restore our balance sheet to a positive net asset position by the end of Q3.

A Symbol of Market Maturity

This ₦10 trillion valuation is more than a corporate win, it’s a signal of Nigeria’s evolving capital market. MTN’s rise reflects the growing appetite for tech-driven, dividend-yielding stocks and the increasing role of telecoms in shaping Africa’s digital economy.

As MTN Nigeria continues to expand its footprint in mobile, data, fintech, and infrastructure, investors are betting on a future where connectivity powers commerce, inclusion, and innovation.

The post BREAKING: MTN Nigeria Becomes First NGX-Listed Company to Hit ₦10 Trillion Market Cap appeared first on Tech | Business | Economy.

Fintech Revival Gains Traction

After recalibrating its strategy earlier this year, MoMo PSB entered H1 2025 with sharp intent, and the numbers speak volumes.

Active wallets rose to 2.7 million, bolstered by the addition of over 562,000 new customers in Q2 alone.

This renewed momentum comes as MTN Nigeria doubled down on its commitment to drive inclusive digital finance for underserved communities.

A standout figure: customer deposits surged nearly fivefold between December 2024 and June 2025, reflecting rising trust in MoMo’s secure, accessible services and an expanding user base of high-value customers.

Expanding Partnerships, Enriching Ecosystems

Leveraging a strengthened partner network, MoMo PSB focused on attracting premium users and enhancing deposit performance.

This ecosystem-driven approach has unlocked new opportunities for integrated services, improved wallet functionality, and deeper engagement in Nigeria’s digital payment landscape.

“MoMo’s resurgence is not just about growth, it’s about strategic refinement and ecosystem empowerment,” said Karl Toriola, CEO of MTN Nigeria. “We’re building a fintech platform that’s resilient, user-centric, and transformative for millions.”

MoMo at the Heart of Digital Inclusion

As MTN Nigeria channels investment into infrastructure and innovation, MoMo PSB stands as a pillar of financial inclusion. The company’s role in expanding access to digital financial services aligns tightly with MTN’s broader vision of empowering Nigerian communities through technology.

Through initiatives like the ₦3 billion commitment to the 3MTT Programme and the launch of a ₦100 million startup accelerator, MoMo PSB is actively helping bridge gaps in access, opportunity, and entrepreneurship.

These efforts are creating real value, not just for customers, but for the future of Nigeria’s digital economy.

Looking Forward: Stability Meets Scalability

With macroeconomic headwinds easing and digital adoption rising, MoMo PSB is positioned to scale further in H2 2025. As MTN Nigeria shifts to optimize capex and enhance free cash flow, the fintech segment is expected to play a critical role in sustained profitability and service innovation.

MoMo PSB’s strategic renaissance is more than a comeback, it’s a signal of resilience, readiness, and relevance in an increasingly digital Nigeria.

The post MoMo PSB Active Wallets Rose to 2.7 million in H1 2025 appeared first on Tech | Business | Economy.

Well, this is as close to a birthday wish as many of us may get this year, and we are here for it!

MTN Nigeria will be hosting its first ever Customer Engagement Day (CED) on Wednesday, July 30, 2025 at the MTN Rooftop, Ikoyi, Lagos.

And from what we hear, it’s a real party with something for everyone, even virtual attendees.

So, if you are all about innovation, entertainment, and staying connected, this is for you. Forget boring presentations – your life in tech is about to begin with hands-on demos, interactive zones, and a whole lot of fun!

What’s the Buzz All About?

CED is MTN’s way of connecting with its customers.  It will spotlight the digital tools shaping modern life, the event will centre on young Nigerians who are leading the way in technology adoption and digital expression.

And, let’s be real, we’re the future! It’s a deep dive into MTN’s digital platforms and how they can make life easier, more fun, and more connected.

Get Ready to Experience:

Here’s the gist of the actual experience:

• Ask Me Anything Session with the CEO: If you have questions for Mr. Karl Toriola, MTN CEO, here’s your chance to ask those hard questions.
• 5G Powered Gaming Zones: For the gamers, this is your kingdom.
• VR and AR Experience Booths; Experience the future right now
• Hands-On Demos & Q&A Sessions! Want to know how to get the most out of your MTN apps? The live demo and sign-up booths are the place to be. Get app usage tutorials, ask all your burning questions, and get instant support from our experts.
• MoMo Hubs: Be prepared to bask in the convenience of financial literacy with MoMo PSB

This is about shifting focus entirely to your needs. So you see why we are ready for it?

Mark your calendars and get ready for an unforgettable experience! Now, MTN must deliver.

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