Although his take-home compensation has significantly decreased over the last two fiscal years, Ralph Mupita, President and CEO of MTN Group, Africa’s largest telecom services provider, continues to rank among the continent’s highest-paid CEOs.
Mupita’s yearly compensation decreased noticeably from $1.4 million in 2021 to $1.13 million in 2022, despite the fact that MTN Group ended its 2022 fiscal year with strong profits and revenues.
According to data compiled by Billionaires.Africa, Mupita’s short-term incentive (STI) allocations for 2022, which are linked to the company’s targets and represent 18.8 percent of his total paid compensation, have decreased.
The STI earnings of Mupita decreased by 30.7 percent, from $893,000 in 2021 to $619,000 in 2022. The group’s profits increased from R16.99 billion ($901.3 million) in 2021 to R24.26 billion ($1.29 billion) at the end of the 2022 fiscal year, yet this still happened.
What you need to know about Ralph Mupita
On September 1, 2020, Ralph Mupita began serving as Group President and CEO of MTN Group, succeeding his prior position as Chief Financial Officer.
Before joining MTN, Mupita was the CEO of Old Mutual Emerging Markets, where he offered financial service solutions in 19 nations across Asia, Africa, and Latin America.
Mupita has been a key contributor to the Group’s financial stability, strategic direction, and successful listing on the Nigerian and Ghanaian Stock Exchanges since joining MTN.
He has a broad range of experience, including knowledge of engineering, construction, financial services, and telecommunications, which has elevated him to a prestigious position in business.
Ralph Mupita’s financial management of MTN
With profits and revenues rising from R19.65 billion ($1.04 billion) and R179.36 billion ($9.5 billion) in 2020 to R24.26 billion ($1.29 billion) and R207 billion ($11 billion), respectively, in 2022, the MTN Group has experienced extraordinary progress under Mupita’s direction.
Ralph Mupita’s overall compensation has fallen recently, but his outstanding contributions to the development of the MTN Group have cemented his place as one of Africa’s highest-paid CEOs.
His influence on the telecom sector is still felt strongly as he guides the business towards continued growth and expansion.