MTN Group CEO Ralph Mupita takes $6 million pay in 2025

Zimbabwean executive Ralph Mupita, Group Chief Executive Officer and President of MTN Group, Africa’s largest telecom services provider, saw his total compensation at the end of 2025 skyrocket by 53.38% to nearly $6 million, fueled by the exceptional financial performance of the telecom giant. 

Mupita’s compensation for 2025 reached a substantial R99.31 million ($5.97 million), a significant leap from the R64.75 million ($3.89 million) he received the previous year. 

MTN profit recovery boosts executive pay

This increase reflects the outstanding performance of MTN Group, which swung from a loss to a profit of R47.43 billion ($2.81 billion), marking one of the biggest financial recoveries in the company’s recent history.

Compensation driven by performance incentives
Mupita’s 2025 compensation package comprised a base salary of R21.41 million ($1.29 million) and a performance-based short-term incentive of R29.54 million ($1.78 million), both attributed to MTN Group’s exceptional financial performance. 

He also received a long-term incentive award of R48.37 million ($2.91 million) from Africa’s largest telecom services provider to acknowledge his strategic leadership and his wealth of expertise as a seasoned professional. 

Mupita’s career and leadership at MTN
Ralph Mupita joined MTN Group in April 2017 as Group Chief Financial Officer, bringing with him extensive experience across engineering, financial services and telecommunications in emerging markets. His appointment came at a critical period for the telecom giant as it sought to strengthen its financial position, enhance capital allocation, and reposition its portfolio for long-term resilience. In September 2020, he was elevated to Group President and Chief Executive Officer, where he has since led the execution of MTN’s strategic priorities across its diverse markets.

Prior to MTN, Mupita served as Chief Executive Officer of Old Mutual Emerging Markets, where he oversaw operations spanning Africa, Asia and Latin America, serving millions of customers while managing assets approaching R1 trillion. His leadership experience across multiple high-growth regions has been instrumental in shaping MTN’s expansion and operational strategy.

At MTN, Mupita has driven key initiatives to strengthen the Group’s capital structure, accelerate portfolio optimisation, and deepen local participation through public listings in markets such as Ghana, Nigeria, Rwanda and Uganda. He has also played a pivotal role in advancing the Group’s strategic transformation agenda, while maintaining active influence in the global telecom ecosystem through leadership roles at the GSMA and the Broadband Commission for Sustainable Development.

MTN returned to profit of nearly $3 billion from loss
In 2025, the pan-African telecom giant delivered strong service revenue, reporting a 22.59% rise from R188 billion ($11.15 billion) to R226.71 billion ($13.45 billion), lifted by strong contributions from Nigeria, Ghana, and its home market, South Africa, contributing R51.09 billion ($3.03 billion) to the Group’s revenue. The group also swung from a loss to a profit of R47.43 billion ($2.81 billion), marking one of the biggest financial recoveries in the company’s recent history.

Subscriber base expands above 300 million

MTN expanded its subscriber base significantly during the year, adding 16.3 million customers to reach 307.2 million users across 16 markets.

Assets and equity show strong growth

Additionally, MTN Group’s total assets rose 15.51% to R498.71 billion ($29.58 billion) from R431.73 billion ($25.6 billion), while total equity advanced 23.38% to R169.73 billion ($10.07 billion) from R137.57 billion ($8.16 billion).