MTN Nigeria Appoints Karl Toriola as New CEO

MTN Nigeria CEO

The MTN Group has announced the appointment of Karl Toriola as Chief Executive Officer (CEO) of its Nigerian branch—MTN Nigeria. This is to take effect from 21st March 2021. The position is currently held by Ferdi Moolman who has been acting in this capacity in the past five (5) years.

Karl Toriola currently acts as the Vice President for MTN Group’s West and Central Africa (WECA) region. While Ferdi Moolman, when this takes effect, will return to South Africa to assume the new role of the Group’s Chief Risk Officer.

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Under Toriola’s watch—which has spanned the past five (5) years— the region has witnessed notable progress in its operations. An important one is the turnaround of MTN Ivory Coast and MTN Cameroon over the past two years.

Karl Toriola, new MTN Nigeria CEO
Karl Toriola, newly-appointed MTN Nigeria CEO.
Image source: businessday.ng

Also, the WECA market has increased its shares within the region while also developing mobile financial services. It is important to note that mobile financial services are an important driver of the Group’s medium to long-term growth strategy.

The above was evident when the company officially launched its mobile money service, MoMo, in the West African region. (Here’s a quick guide on how to use the MTN MoMo app).

Speaking on the new appointments, MTN Group President and CEO Ralph Mupita affirmed that,

“Karl brings extensive technical and commercial experience, as well as a deep understanding of the Nigerian market to the role. Karl started his MTN career in his home country at MTN Nigeria 14 years ago and has all the attributes necessary to lead this very important business into the future.”

Ralph Mupita, MTN Group President and CEO

Before now, Karl Toriola had served as Chief Executive Officer at MTN Congo (2011), Chief Technical Officer at MTN Nigeria (2006 – 2011), Chief Executive Officer at MTN Cameroon (2011 – 2015), and more recently, his current role.

Ralph Mupita also had this to say about the current CEO of MTN Nigeria,

“Ferdi has been an exemplary leader of MTN Nigeria and has put the business on a sound growth platform for the future. He brings significant strategic, financial and operational experience to the new group risk role, where we want to ensure that our enterprise-wide risk management systems are continuously strengthened and remain resilient as we drive our growth strategy.”

Ralph Mupita, MTN Group President and CEO

Like Karl, Ferdi Moolman has also held several senior positions in different branches of the MTN Group. An example of this is his position as Chief Financial Officer at MTN Irancell in 2007. He took over as CEO of MTN Nigeria in 2015. Both of them will remain members of the Group’s Executive Committee in their various capacities.