MTN makes that call to Jonas
Former deputy finance minister joins board of network provider
FORMER deputy finance minister Mcebisi Jonas has been appointed an independent non-executive director of MTN.
“Mcebisi is currently one of four independent presidential investment envoys, appointed by President Cyril Ramaphosa to attract investors to SA,” MTN said in yesterday’s announcement.
MTN also appointed former Transnet group treasurer Swazi Tshabalala as an independent non-executive director.
Jonas, 58, holds a Bachelor of Arts in history and sociology from Vista University and a Higher Diploma in Education from Rhodes University.
He served in government as deputy finance minister from 2014 to 2017.
Before his appointment to national government, Jonas played a key leadership role in the Eastern Cape.
Tshabalala, 52, is currently executive director of consulting and investment holding company Barbican Advisory Group.
She holds a Master in Business Administration (MBA) from Babcock School of Management, at Wake Forest University in the US.
In addition, she has more than 20 years professional experience in finance, risk management, treasury and general management. Her experience was gained over a diverse range of institutions in state-owned companies and the private sector, and a diversity of sectors, including transportation and logistics, infrastructure and financial services.
“I wish to extend a warm welcome to Swazi and Mcebisi. We are all excited to have them onboard,” said MTN Group chairman Phuthuma Nhleko.
“As we continue to steer our business into a new trajectory of execution excellence, I believe their arrival will further enrich the diversity and experience of the board.”
Nhleko added he believes that the arrival of both would serve the company well.
The company further stated that both Tshabalala and Jonas bring an extensive board and senior management experience to their new roles, having served on numerous boards in the private and public sectors over many years.
Besides announcing its new board appointments, MTN released the March quarter financial statements of its Nigerian business yesterday morning ahead of its initial public offering (IPO).
MTN Nigeria reported revenue of 249-billion naira (about R8.7billion) and net profit of 32-billion naira (about R1-billion) for the three months to end-March.
Revenue was up 14.5% and net profit was up 44% from the matching period in 2017.
The mobile operator said in an operating update on May 3 that it was making good progress in listing its regional units in Nigeria and Ghana.
It has received all regulatory approvals in Ghana and expects to launch the IPO process shortly. It expects to complete its Nigerian IPO this year.