Following the announcement of Rob Shuter as its new Group President and CEO, MTN Nigeria has moved on to appoint Adekunle Awobodu as Chief Financial Officer (CFO). The last I checked, no Nigerian has ever occupied the position. This makes him the first Nigerian to assume the role.
Awobodu replaces Ferdi Moolman, who was appointed as CEO of the company in December 2015. Awobodu will serve as MTN Nigeria’s strategic financial business partner and lead the organisation in facilitating decision-making through sound business insights and analysis that drives business improvement and performance.
MTN’s quest to move on from recent woes and chart a new trajectory may likely be an indicator of more changes in the hierarchical structure in the coming days; especially at the top level. You’d agree with me that stability doesn’t come overnight, even for a company of MTN’s magnitude, so it’s possible that it will take time before desired result start setting in; perhaps even longer as Rob Shuter resumption isn’t looking to happen anytime in 2016.
MTN, despite recent frailties, is certainly not a company to act without thinking. The plan to execute the proposed $730 million capital expenditure in Nigeria also aligns with the fact that MTN knows where the market lies and more importantly, who to have at the top calling the shots.
Adekunle Awobodu began his career in 1994 with Procter and Gamble (P&G) Nigeria. He joined MTN Nigeria’s Finance Division in February 2002 as Fixed Assets Manager and rose through the ranks, becoming the first Nigerian CFO of MTN Iran. He has over 22 years of professional experience and international exposure in finance. He holds a Bachelor’s degree in Finance & Banking from the University of Lagos and a Masters’ degree in Finance from the University of Leicester, UK.
Like I earlier mentioned, these things may take time to finally blend in. However, there is light at the end of the tunnel; for those who wouldn’t stop halfway. Hopefully MTN wouldn’t stop halfway.
Jan. 18: Bonus Built in Africa episode: Town Hall meeting with Peter Salovey, President of Yale University
On March 25, 2021, Techpoint Africa will be hosting the brightest minds in decentralised finance/crypto at the Digital Currency Summit tagged “Building the money of the future” Click here for more details, registration and sponsorship. Location: Fourpoint by Sheraton, V.I. Lagos.