MTN Group is juggling a storm on two fronts: a fresh US investigation into its past dealings in volatile markets, and a sweeping shake-up of its leadership team as it plots its next phase of growth.
The telecoms giant disclosed on Monday, in its 2025 interim financial results, that it is under investigation by the US Department of Justice (DoJ) regarding its legacy operations in Afghanistan and its current 49% stake in Iran’s Irancell. Both markets have long been political minefields, subject to heavy sanctions.
According to MTN, American prosecutors have formally approached the group through its US lawyers. While the company insists it is cooperating fully and has not been accused of wrongdoing, the prospect of a grand jury probe looms large. Grand juries don’t decide guilt, but they determine whether evidence is strong enough to bring formal charges, potentially setting up Africa’s largest telecom operator for a criminal trial in the US.
This is not MTN’s first legal headache tied to its Afghan business. Since 2019, the group has been fighting a class-action lawsuit filed by families of US soldiers, who allege MTN paid protection money to the Taliban, endangering American lives. That case has been allowed to proceed in US courts.
Its Iranian ties are also under scrutiny. Turkish rival Turkcell continues to pursue a $4.2 billion lawsuit, claiming MTN secured the Irancell licence through bribery in both Tehran and Pretoria. That case has already wound its way to South Africa’s top court after years of dispute.
CEO Ralph Mupita struck a cautious tone, telling investors: “A lot of these things are legacy issues, and we obviously have to spend a lot of time defending ourselves.” With US-South Africa relations tense, the group finds itself under pressure to navigate not just regulators, but geopolitics.
Yet even amid these challenges, MTN is pressing forward with a leadership realignment designed to drive its growth agenda. As of November 1, Ferdi Moolman, currently the chief risk officer and formerly the CEO of MTN Nigeria, will assume the reins of MTN South Africa. He replaces Charles Molapisi, who returns to his old role as Group Chief Technology and Information Officer (CTIO), this time tasked with embedding AI across operations, from network optimisation to customer service.
Other shifts see Karl Toriola, CEO of MTN Nigeria, take on the additional role of Vice President for Francophone Africa, while Ebenezer Asante assumes oversight of Ghana, Southern, and East Africa. Mazen Mroué will expand the group’s digital infrastructure play, ramping up investments in fibre and data centres.
At the board level, succession planning is already underway ahead of chairman Mike Harper’s 2026 retirement, with Sindisiwe Mabaso-Koyana named as the next chair of MTN South Africa. CFO Tsholofelo Molefe, meanwhile, will add mergers and acquisitions to her brief, while Selorm Adadevoh expands his remit to include group strategy.
Financially, the group remains strong despite its legal clouds. MTN reported a 22.4% revenue jump in the first half of 2025, with Nigeria and Ghana driving growth. Headline earnings per share surged by more than 350%, and dividends were raised to 345 cents per share. Its mobile money platform, MoMo, remains the jewel in its crown, processing more than $320 billion in transactions during the half year and growing revenue nearly 29%.
The dual narrative of legal scrutiny abroad and leadership renewal at home captures MTN’s delicate balancing act, defending its past while betting big on a future built around connectivity, fintech, and AI-driven efficiencies.
