MTN director Jens Schulte-Bockum sells over $1 million in shares two years after exit

MTN Group director Jens Schulte-Bockum has offloaded shares worth more than $1 million, nearly two years after stepping down from his executive role at Africa’s largest mobile operator.

The transaction, disclosed in line with JSE Limited listing requirements, involved the on-market sale of 88,355 ordinary shares on June 3, 2026, at a weighted average price of R215.99 ($13.03) per share. The deal was valued at R19.08 million ($1.15 million), with shares sold at prices ranging between R213.33 ($12.87) and R217.99 ($13.16).

Post-executive share disposal

Schulte-Bockum, who serves as a non-executive director at MTN’s key subsidiaries, MTN South Africa and MTN Nigeria Communications, executed the sale under direct beneficial ownership, with prior clearance obtained in accordance with company policy.

The disposal comes more than two years after the German executive stepped down as Group Chief Operating Officer of MTN, a role he held until March 31, 2024, when his fixed-term contract expired. His tenure was structured under a dual-contract arrangement spanning MTN Dubai Limited and MTN Group Management Services South Africa.

Long tenure in global telecoms

Schulte-Bockum joined MTN in 2017, bringing more than two decades of experience spanning consulting and telecommunications, including senior roles at McKinsey & Company and Vodafone Group.

During his tenure, he oversaw MTN’s commercial, technology, enterprise, and digital functions, while supporting expansion across its footprint in Africa and the Middle East. His leadership also contributed to growth in digital platforms, including ayoba, fiber-to-the-home expansion, and the scaling of Bayobab.

MTN’s earnings rebound and growth

The share sale follows a period of strong financial recovery for MTN. In 2025, the telecom giant reported a 22.6% rise in service revenue to R226.71 billion (approximately $13.45 billion), supported by strong performances in Nigeria, Ghana, and South Africa.

The group also swung back to profitability, posting earnings of R47.43 billion (about $2.81 billion), marking a sharp turnaround from prior losses.

Expanding subscriber base and balance sheet

MTN’s operational momentum was equally evident in its growing user base, which expanded by 16.3 million subscribers to reach 307.2 million customers across 16 markets.

The company’s balance sheet also strengthened, with total assets rising 15.5% to R498.71 billion ($29.58 billion), while shareholders’ equity climbed 23.4% to R169.73 billion ($10.07 billion).

Strategic positioning post-exit

Schulte-Bockum’s latest transaction reflects a partial monetization of holdings accumulated during his executive tenure, even as he remains involved in the group at board level.

For MTN, the continued execution of its fintech, data, and digital infrastructure strategy remains central to sustaining growth across its core African markets, as competition intensifies and demand for connectivity accelerates.