Former Vodafone executive and Nedbank veteran Rob Shuter is just a few weeks into his new role as MTN’s Group CEO, but he is already making key executive changes to try boost profits.
Stephen Van Coller, who was previously investment banking chief at Barclays Africa Group, was hired by MTN around seven months ago to be its head of strategy.
But Shuter has pivoted Van Coller’s role to head of digital services at MTN in a bid to examine ways of boosting profits from cellphone data, Bloomberg has reported.
If MTN wants to emerge from its first ever full-year loss, then data is key to its financial future – especially as demand for voice calls continues to plummet.
Van Coller has already told Bloomberg that his first task is to hold talks with Naspers’ MultiChoice about hosting TV entertainment on smartphones.
These may be the first glimmers of hope for shareholders who have had to endure a depressed MTN share price over the last two years.
However, if MTN is to truly emerge again, it will also have to take a closer look at its Nigerian market, where it is still smarting from a multi-million dollar fine for millions of unregistered SIMs.
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