South African telecommunications group MTN has appointed Ralph Mupita as its new president and chief executive officer.

This appointment will be effective from September 1, 2020, with incumbent CEO Rob Shuter set to step down on August 31.

Mupita was previously the chief financial officer of MTN Group, a position he held since April 2017.

“Ralph has served as the MTN Group CFO since April 2017 and has played a critical role in the development and execution of the group’s strategy, capital allocation processes, financial performance as well as in the resolution of a number of complex regulatory matters,” said MTN in a statement.

“After a rigorous and extensive search process, we are pleased to have appointed someone of Ralph’s calibre, experience and ability to fill the group president and CEO position.

“Ralph’s experience as the group CFO, strong knowledge of our businesses and markets, as well as successful background in financial services, M&A and emerging markets, place him in an excellent position to lead the growth and sustainability of the business going forward.”

Mupita is a graduate of the University of Cape Town with a degree in engineering and an MBA.

Before joining MTN Group, Mupita served as the CEO of Old Mutual Emerging Markets for five years, managing over R1 trillion of customer assets under management at the time.

“Leading a business with MTN Group’s history, scale and socio-economic impact is a privilege and honour, and I look forward to working with the group board and executive committee in driving growth and unlocking value for shareholders and broader stakeholders,” said the incoming CEO.

“MTN Group is well positioned to take advantage of the digital acceleration shifts and opportunities across our markets, and we are well placed to play an important and leading role in digital and financial inclusion of the African continent, working with our stakeholders and partners.”