Slav,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- MTN faces fresh US legal trouble
- How BellBank wants to challenge Moniepoint
- MTN shakes up leadership team ahead of 2026
MTN hit with US grand jury probe
MTN has landed in hot water with US authorities. Per TechCentral, the telecoms giant revealed on Monday that it is now under a grand jury investigation by the US Department of Justice (DoJ) over its past operations in Afghanistan and its current 49% stake in Iran’s Irancell. Both markets have long been political minefields, with heavy US sanctions in play.
The company confirmed the probe in its 2025 interim financial results, noting that US prosecutors have approached MTN through its American lawyers. For now, the group says it’s cooperating fully and responding to requests for information while promising to update investors if anything major develops.
A grand jury doesn’t decide guilt or innocence. It simply decides if there’s enough evidence for formal charges. But depending on the outcome, MTN could be staring at a criminal trial in the US. That would be a serious blow to Africa’s largest telecom operator.
This is not MTN’s first legal headache linked to its time in Afghanistan. The firm is already facing a class-action lawsuit from families of US soldiers who claim MTN paid protection money to the Taliban, allegedly putting American lives at risk. That case, filed back in 2019, has been allowed to proceed in US courts.
Meanwhile, its Iranian ties are also being dragged through the courts. Turkish rival Turkcell is still pushing a $4.2 billion lawsuit against MTN, alleging it lost out on the Irancell licence two decades ago because MTN bribed officials in Tehran and Pretoria. The case has already reached South Africa’s top court after years of back-and-forth.
MTN CEO Ralph Mupita tried to calm nerves on Monday, stressing that while the DoJ has asked tough questions, the group has not been accused of wrongdoing. “A lot of these things are legacy issues, and we obviously have to spend a lot of time defending ourselves,” he said. Still, with US-South Africa relations tense, MTN finds itself walking a very fine line.
How BellBank wants to challenge Moniepoint
Bello Kano and Tayo Akintoye started out as POS agents in Kano back in 2018, long before Moniepoint and OPay dominated the market.
With just ₦400,000 (about $267) in capital, they grew their business into a ₦50 million ($33,000) operation in three years by creating trust, offering superior customer service, and even building a “computer village” that gave traders a safe space to do business and deposit their cash.
But the duo wanted more than being top PoS agents. Their new venture, BellBank Microfinance Bank, is tackling Nigeria’s financial inclusion gap, especially in the North where 26% of adults — roughly 28 million people — remain excluded from formal finance.
Their flagship innovation is the BellBox, a low-cost payment soundbox that notifies both merchants and customers when a transfer goes through.
At just ₦5,000 ($3), it’s a fraction of the cost of traditional PoS devices and could open up digital payments to millions of small traders.Will BellBank replicate China’s soundbox success in Nigeria, or struggle in an already crowded market? Read Bolu’s latest here.
MTN shakes up leadership team ahead of 2026
MTN Group is shaking up its top leadership as it positions for the next phase of growth. The big change sees Ferdi Moolman, the group’s current chief risk officer and a former MTN Nigeria CEO, step in as the new head of MTN South Africa from November 1. He replaces Charles Molapisi, who led MTN SA through a tough stretch marked by power cuts and network strain.
Molapisi isn’t leaving the picture, though. He’s sliding back into his old role as Group Chief Technology and Information Officer (CTIO), this time with extra responsibility for spearheading MTN’s adoption of AI across operations, from network optimisation to customer service and productivity.
The shuffle comes with more reassignments across the group’s leadership bench. Karl Toriola, CEO of MTN Nigeria, adds another hat as VP of Francophone Africa, while Ebenezer Asante takes charge of Ghana, Southern and East Africa. The digital infrastructure unit also gets fresh focus under Mazen Mroué, who will expand MTN’s fibre and data centre footprint.
As MTN prepares for chairman Mike Harper’s retirement in 2026, the company has already lined up Sindisiwe Mabaso-Koyana as the next chair of MTN South Africa, signalling a structured succession plan at board level. Other tweaks include Selorm Adadevoh adding strategy duties to his commercial brief, while CFO Tsholofelo Molefe will now oversee M&A.
Beyond leadership, MTN’s financials continue to shine. The group reported a 22.4% revenue jump in H1 2025, powered by Nigeria and Ghana. Headline earnings per share surged over 350%, and the board sweetened dividends to 345 cents per share, pledging even more by year’s end.
Fintech remains MTN’s crown jewel. Its MoMo platform clocked more than $320 billion in transactions in the half year, with revenues climbing nearly 29%. With data demand booming and AI-driven efficiencies in the pipeline, MTN is betting big on connectivity, fintech, and digital infrastructure as the pillars of its growth beyond 2025.
In case you missed it
- From NFT IDs to blockchain evidence, this startup wants to keep Nigerians out of jail
What I’m watching
- Why Did the Universe Create Life? With David Krakauer
- The neuroscience of extremes: Ruthless psychopathy to extraordinary generosity | Abigail Marsh
Opportunities
- Businessfront, the parent company of Techpoint Africa, is looking for a Managing Editor (FMCG). Apply here.
- Paystack is hiring for several roles in Nigeria and South Africa. Apply here.
- Paga is recruiting for several positions. Apply here.
- Want to attend an evening of connection, conversation, and insight on how data is shaping East Africa’s creative economy? Join Communiqué on Thursday, August 21, at 6pm, at Alliance Française, Nairobi, featuring Brian Kimanzi, Mars Maasai (HEVA Fund), Ezy Onyango (PAIPEC-CCI), Wangui Njoroge and more. Register here.
- Moniepoint is hiring for several positions. Apply here.
- Businessfront, the parent company of Techpoint Africa, is looking for a Researcher and Scriptwriter Intern for Businessfront TV. Apply here.
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Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa
