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Home Leadership MTN appoints Telekom’s Tsholofelo Molefe as Group CFO

MTN appoints Telekom’s Tsholofelo Molefe as Group CFO

by Milcah Lukhanyu
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MTN Group has appointed Telekom’s Group CFO Tsholofelo Molefe as its new Group Chief Financial Officer (GCFO) starting next month.

Tsholofelo (51) is a qualified chartered accountant, CA(SA), and brings deep financial, risk and telecommunications experience. As Telkom’s GCFO since 2018, as well as its Chief Risk Officer and Deputy CFO prior to that, Tsholofelo played a key role in the strategic transformation programmes at Telkom.

Prior to working at Telkom, Tsholofelo was the Finance Director at Eskom as well as the CFO for First National Bank’s Personal Banking division. She is also a Non-executive Director on the board of Curro Holdings.

Tsholofelo will also join the Group board and take over from Sugentharan Perumal who has been acting in the position of GCFO since 1 September 2020.

“We are thrilled to have an executive of Tsholofelo’s stature join us,” said MTN Group President and Chief Executive Officer Ralph Mupita. “The board is confident that she has the experience required for the position. She will play a critical role in the growth of the business and unlocking of shareholder value.”

MTN Group also made changes to its regional structure and the Group Exco

Effective 1 January 2021, MTN Ghana will become part of the Group’s West and Central Africa (WECA) region and MTN’s Southern and East Africa and Ghana (SEAGHA) region will be known as the Southern and East Africa (SEA) region.

Ebenezer Asante, the SEAGHA Vice President since 2017, will become the new WECA Vice President, and Yolanda Cuba, the Group’s Chief Digital and Fintech Officer, will take the helm as the SEA Vice President.

Ebenezer, 52, joined MTN in 2008 and is a highly experienced executive who has held senior positions in the Group, including CEO of MTN Ghana and CEO of MTN Rwanda. He is also a board member on a number of companies within the Group.

Yolanda, 43, joined MTN in January 2020. Prior to that she was Vodacom’s Chief Officer of Strategy and M&A and CEO of Vodafone Ghana, which saw her named telecom CEO of the year in 2018.

The SEA region is critical to MTN’s growth ambitions and presents a good opportunity for growth in mobile financial services. It also has the largest potential for further expansion. With her extensive experience in telecoms and finance, Yolanda will play a key role in driving growth and strategic progress in the region.

Serigne Dioum, Group Executive for Mobile Financial Services, will join the Exco as the Group Chief Digital and Fintech Officer. Serigne, 46, joined MTN in 2009 and has an established track record in the telecoms sector, with strong experience in mobile financial services (MFS).

Before joining MTN, he held senior positions in MFS, operational marketing, value-added services and data at Orange. Serigne is highly qualified and experienced to drive digital innovation and financial inclusion as well as build and scale these platforms as part of MTN’s growth strategy.

Kholekile Ndamase, Group Executive for Mergers and Acquisitions (M&A), will assume the new Exco role of Group Chief M&A and Business Development Officer. Kholekile, 40, joined MTN in 2016 from RMB, where he led the equity-based financing business and was responsible for financing solutions and M&A execution.

These executive changes follow those announced in October: Karl Toriola as CEO designate of MTN Nigeria and Ferdi Moolman’s appointment to the new exco role of Group Chief Risk Officer. Both are effective from 1 March 2021.

Commenting on the latest appointments, Group President and CEO Ralph Mupita said: “Not only do these appointments safeguard continuity in the growth of our leading and scale connectivity business on the African continent, but, importantly, also support the acceleration of our digital platforms, de-risking of the business and unlocking of value. I am also particularly pleased with our continued steady progress in adding to the representation of women in our senior leadership team, which underlines MTN’s strategic focus on diversity and inclusion.”

The Group Exco will be as follows: 

  • Ralph Mupita – Group President and Chief Executive Officer
  • Tsholofelo Molefe – Group Chief Financial Officer
  • Jens Schulte-Bockum – Group Chief Operations Officer
  • Godfrey Motsa – MTN South Africa CEO
  • Karl Toriola – MTN Nigeria CEO (effective 1 March 2021)
  • Yolanda Cuba – Vice President SEA (effective 1 January 2021)
  • Ebenezer Asante – Vice President WECA (effective 1 January 2021)
  • Ismail Jaroudi – Vice President MENA
  • Serigne Dioum – Group Chief Digital and Fintech Officer (effective 1 January 2021)
  • Ferdi Moolman – Group Chief Risk Officer (effective 1 March 2021)
  • Lele Modise – Group Chief Legal Counsel
  • Felleng Sekha – Group Chief Regulatory and Corporate Affairs Officer
  • Paul Norman – Group Chief Human Resources Officer
  • Charles Molapisi – Group Chief Information and Technology Officer
  • Kholekile Ndamase – Group Chief M&A and Business Development Officer (effective 1 January 2021)

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