Africa’s largest mobile network by subscribers, MTN Group, has announced that Rob Shuter will step down as CEO on March 2021. Rob will be completing his four year term at the helm of the telecommunications firm.
The announcement came during release of the results for the full year that ended in 31 December 2019. MTN’s revenues rose by 9.7% to R151.5 (KSh967) billion while earnings per share grew by 38.9%. The group service revenue increased by 9.8% to R141.8 (KSh905) billion and earnings before interest, tax, depreciation and amortization (EBITDA) expanded by 13.6% to R53.4 (KSh341) billion.
The results reveal growth in subscribers by 18.2 million to hit 251 million customers for the group, data users grew by 17 million to 95 million users with the fintech customers increasing to 35 million.
MTN Nigeria and MTN Ghana recorded double digit growth helping fuel the group’s revenue growth.
The CEO succession process with take place during the year to ensure a seamless transition.
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