• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

MTN bosses get millions of rands worth of shares, but Ghana CEO missing

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
1
107
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

MTN bosses get millions of rands worth of shares, but Ghana CEO missing

Executives at MTN Group have received millions of rand in shares as part of the telecommunications firm’s performance share plan.

The shares awarded will vest in three years’ time.

MTN disclosed the share awards on 29 December by way of a JSE stock exchange I news service notification to investors.

It said the Group CEO and President, Ralph Mupita, was awarded 321,077 shares under the scheme at a market value of R36.9-million based on a share price of R115. The shares will vest in December 2026, subject to conditions.

Group Senior Vice President for Markets, Ebenezer Asante got 206,556 shares worth R23.8-million. Eben Asante also got an additional allocation of 41,300 shares worth R5.4-million, correcting an “omission” in the previous financial year’s allocation.

Other senior figures in MTN included in December’s share awards are:

RelatedPosts

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

  • Group chief financial officer Tsholofelo Molefe: 171,738 shares worth R19.7-million.
  • Outgoing group chief operating officer Jens Schulte-Bockum: 212,614 shares worth R24.5-million.
  • Group chief human resources officer Paul Norman: 86,431 shares worth R9.9-million.
  • MTN Nigeria CEO Karl Toriola: 108,375 shares worth R12.5-million.
  • MTN South Africa CEO Charles Molapisi:144 529 shares worth R16.6-million.
  • Group chief risk officer Ferdi Moolman: 98 635 shares worth R11.3-million.
  • MTN South Africa chief financial officer Dineo Molefe: 51 174 shares worth R5.9-million.
  • Group chief technology and information officer Mazen Mroue: 125 249 shares worth R14.4-million.
  • Company secretary Thobeka Sishuba-Bonoyi:32 412 shares worth R3.7-million.
  • MTN South Africa company secretary Mateboho Rantofi: 15 693 shares worth R1.8-million.

Ghana CEO Missing
Conspicuously missing on the list of beneficiaries is MTN Ghana CEO, Selorm Adadevoh, who has now been promoted to the position of Group Chief Commercial Officer, beginning June this year.

Under Selorm’s leadership MTN Ghana saw skyrocketing profits, to the extent that even the Group President and CEO described Ghana as the “jewel in MTN’s crown”. Indeed, Selorm was recently adjudged the best CEO in the MTN Group.

It is rather ironic that Selorm’s counterparts in Nigeria and South Africa, as well as even some non-CEOs in South Africa got shares but Selorm did not.

Tags: but Ghana CEO missingmtnMTN bosses get millions of rands worth of sharesRand

Comments 1

  1. Richard Lambert says:
    2 years ago

    The shares form part of the executives’ remuneration package. They are therefore taxable as a benefit in kind, unless MTN operate a tax-approved share option scheme in each country where the executives normally reside for tax purposes. Moreover, the exercise of the options, and the profit resulting is normally subject to performance conditions. So instead of belly-aching about the absence of a Ghanaian snout in the trough, I would advise that attention be focused instead on the performance requirements, and on the way awards of this kind dilute the value of shares bought by investors.

No Result
View All Result

Highlights

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

Trending

Features

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

August 25, 2025

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers As anticipation builds for the...

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

August 25, 2025

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

August 25, 2025

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

August 25, 2025

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.