Business
MTN appoints Emir Sanusi as global board member
A former governor of Central Bank of Nigeria (CBN) and current Emir of Kano, Sanusi Lamido, has been appointed to the global board of MTN group.
The announcement came on Friday from the Johannesburg-based telecommunication company as another notable African, Mcebisi Jonas, South Africa’s former deputy finance minister, was appointed the chairman.
Jonas is expected to take over from Phuthuma Nhleko, the present chairman, who will step down in December.
“In recent years MTN Group has experienced challenging regulatory environments and highly competitive trading conditions,” the company said in a statement on Friday.
“The board is of the view that MTN Group has entered a more stable and settled phase, enabling it to now affect the evolution of the board.”
Read also: SEC moves to tackle terrorism and money laundering in capital market
The company also announced its readiness to be listed on the Nigerian Stock Exchange before July, saying it plans to enter the market by way of listing by introduction.
Listing on the NSE was one of the conditions reached in the resolution of a N330 billion fine placed on the telco by the Nigerian Communications Commission (NCC) for its inability to disconnect improperly registered SIM cards.
MTN also made it known that it has appointed a separate board for advice on broader African issues.
It was gathered that the board will be headed by Thabo Mbeki, former South African president. John Kufuor, for Ghanian president, and Nhleko, its outgoing chairman, will be members of the board.
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