Mcebisi Jonas, MTN chairman says the group is working hard to expand governance in global telecoms markets where sovereign issues like national security concerns, localisation demands and elevated expectations of corporate leadership in the national development agenda have become more important.
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MTN is beefing up its governance and has formed a “nation-state program” to address growing volatility in the global telecoms market that has become roiled with factors such as AI disruption, geopolitical fragmentation and regulatory complexity.
Board chairman Mcebisi Jonas said in the integrated report released Wednesday that the group, which trades in 16 African countries and services 307.2 million customers, is also seeking “the most suitable governance model for the group and its subsidiaries,” a process that he expects will continue into 2026.
An AI search by BR showed MTN has faced several governance issues since 2020, including investor requests for more disclosure on executive remuneration and ESG metrics, the withdrawal from Syria, Yemen, and Afghanistan that exposed geopolitical risk management, and board-level monitoring of regional operations weaknesses, investor requests for stronger board independence and diversity, and better oversight and compliance due to regulatory, tax, and licensing issues in countries such as Ghana, Nigeria, and Uganda.
As an example of changes in the global environment, Jonas said that several years ago, the strategic discussion in the telecoms sector was largely about market share, spectrum allocation, and customer experience.
“These elements are still important; however, they now sit alongside sovereign issues like national security concerns, localisation demands, and elevated expectations of corporate leadership in the national development agenda,” he said.
“For MTN, we drew a key lesson from this shift: our sector is not only seen as providing commercial services but is increasingly becoming a strategic national enabler of economic growth and social stability. For this reason, we intensified our stakeholder alignment efforts to improve the quality of our engagement,” he said in the report.
He said MTN had launched a “nation-state program” to strategically align its role as a trusted partner of choice for national development priorities across its host markets, while also safeguarding the integrity and independence of the group.
“The program has become our central approach to actively engaging with governments, regulators, policymakers, multinationals, etc., to position the business better to anticipate policy and regulatory shifts and also contribute to the advancement of the digital economy in Africa,” he said.
He said that as AI reshapes labour markets and redefines assumptions about productivity, new governance considerations – such as trust, safety, and accountability – had become important.
The board also endorsed a revised group executive committee structure, including key leadership appointments such as a new MTN South Africa CEO and deputy CEO. Board succession was also a focal area in 2025, and this year the first phase was concluded this year by adding new directors who bring “fresh perspectives and strong expertise” to the board.
“As a board, our responsibility is to ensure MTN’s transformation is both agile and responsible: that we invest in strong capabilities; reinforce our governance controls; protect stakeholder trust; and build digital platforms that scale safely, resiliently, and sustainably across our footprint,” he said.
“We enter 2026 with more confidence — putting in place stronger governance controls, a clearer nation-state program, active risk management, and a leadership team with the experience to navigate our operating environment. Our investment case remains compelling because the continent has a youthful demographic, is experiencing increasing digital adoption, and connectivity is critical for economic growth and social stability,” he said.
Meanwhile, MTN’s Fintech division has expanded its ecosystem and is building partnerships to pivot from a basic payment provider in Africa to a comprehensive financial services platform, bridging the credit gap for millions of underserved Africans.
Jonas said the group supports 69.5 million active MoMo (mobile money) users on the continent. Loans of $3.6 billion were disbursed through the group’s platform. in 2025
“We live on a continent where only 57% of the population has access to a bank account or mobile money wallet. Additionally, 90% of all transactions remain in cash, while only 25% of adults have access to credit. For this reason, we are continuing to press hard to achieve our financial inclusion goals,” said Jonas.
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