Despite a significant reduction in his take-home pay over the previous two fiscal years, Ralph Mupita, President and CEO of MTN Group, Africa’s largest telecom services provider, is one of Africa’s highest-earning CEOs.
Mupita’s annual remuneration dropped significantly to $1.13 million in 2022, compared to the $1.4 million he received in 2021, even as MTN Group reported robust profits and revenues at the end of its 2022 fiscal year.
Data tracked by Billionaires.Africa revealed that the 18.8 percent decrease in Mupita’s total earned remuneration can be attributed to a decline in his short-term incentive (STI) allocations for 2022, tied to the incremental progress made toward the company’s targets.
Mupita’s STI earnings experienced a 30.7 percent decline, falling from $893,000 in 2021 to $619,000 in 2022. This occurred despite the group’s profits rising from R16.99 billion ($901.3 million) in 2021 to R24.26 billion ($1.29 billion) at the close of the 2022 fiscal year.
What you should know about Ralph Mupita
Ralph Mupita assumed the role of Group President and CEO of MTN Group on September 1, 2020, following his previous tenure as Chief Financial Officer.
Prior to his time at MTN, Mupita served as the Chief Executive Officer for Old Mutual Emerging Markets, where he provided financial service solutions across 19 countries in Africa, Latin America, and Asia.
Since joining MTN, Mupita has played a pivotal role in strengthening the Group’s financial position, shaping its strategic direction, and overseeing its successful listing on the Nigerian and Ghanaian Stock Exchanges.
His diverse background, encompassing expertise in engineering, construction, financial services, and telecommunications, has made him a respected and influential figure in the corporate world.
MTN’s financial performance under Ralph Mupita
Under Mupita’s leadership, MTN Group has witnessed remarkable growth, with profits and revenues escalating 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) in 2022, respectively.
While Ralph Mupita’s total remuneration has decreased in recent years, his exceptional contributions to MTN Group’s success have solidified his position as one of Africa’s highest-earning executives.
As he continues to steer the company towards further growth and expansion, his impact on the telecom industry remains substantial.