MTN Incentivizes Performance with Substantial Share Awards

Africa’s leading telecom operator, MTN Group, has distributed approximately R160 million ($9.5 million) in shares to its top executives under the company’s Performance Share Plan.

The awards, announced after Tuesday’s market close, demonstrate MTN’s commitment to rewarding high-level performance and aligning leadership incentives with long-term growth.

Key Allocations:

• Ralph Mupita (Group CEO): Shares valued at R40 million ($2.4 million)
• Ferdinand Moolman (CEO, MTN South Africa): R20.1 million ($1.2 million)
• Karl Toriola (CEO, MTN Nigeria & VP, Francophone Africa): R5.5 million ($326,000)
• Stephen Blewett (CEO, MTN Ghana): R4.1 million ($243,000)

Other executives received smaller allocations ranging from $113,000 to $1.4 million.

The Performance Share Plan evaluates executives based on: shareholder returns, free cash flow, return on equity (ROE), and environmental, social, governance (ESG) targets including broadband coverage, diversity initiatives, and net-zero commitments.

Implications for MTN:

• Performance Alignment: Linking executive compensation directly to company performance motivates results and ensures accountability
• Investor Confidence: The awards signal a commitment to creating shareholder value through effective leadership
• Competitive Advantage: In Africa’s dynamic telecom market, these substantial rewards help retain top talent and drive continued growth