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MTN Group Limited awarded performance shares to senior executives on 31 March 2026 as off-market transactions. These allocations comply fully with JSE Limited Listings Requirements. All awards fall under the MTN Performance Share Plan 2010 and carry a three year vesting period from the grant date.
The shares were priced at R192.50 per ordinary share. Total value across the disclosed allocations reaches approximately R160 million, reflecting the group’s focus on performance based compensation.
MTN Nigeria CEO Karl Toriola received performance shares valued at approximately 335,000 US dollars, equivalent to about R5.53 million. This allocation forms part of the broader MTN Group long-term incentive programme.
Karl Toriola also benefits from additional long-term incentives specifically linked to MTN Nigeria performance. These supplements recognise his leadership role in one of the group’s most important markets.
MTN Group President and CEO Ralph Mupita received the largest allocation with 207,633 shares valued at approximately R39.97 million. Group Chief Financial Officer Tsholofelo Molefe was awarded 111,931 shares worth about R21.55 million.
Other notable recipients include Senior Vice President for Markets Ebenezer Asante, who received 120,880 shares valued at around R23.27 million. MTN South Africa CEO Ferdinand Moolman obtained 104,545 shares worth approximately R20.13 million.
These figures demonstrate the tiered structure of the MTN Group performance shares programme, which scales according to seniority and responsibility.
The MTN Performance Share Plan 2010 aims to align executive performance with sustainable shareholder value creation. It also supports retention of key leadership talent across MTN’s diverse operations in Africa.
All awards remain subject to performance conditions and vest over three years. This structure encourages executives to focus on long-term strategic goals rather than short-term gains.
MTN Group confirmed that executives subject to minimum shareholding requirements have already met their obligations. The vesting schedule integrates seamlessly with the company’s internal remuneration framework.
Beyond group level awards, MTN granted additional shares to subsidiary directors and company secretaries in key markets including Nigeria, Ghana, and South Africa. This broad based approach reinforces a unified incentive culture across the organisation.
The inclusion of market-specific incentives, such as those linked to MTN Nigeria, allows the group to tailor rewards to local performance drivers while maintaining overall alignment with group objectives.
Performance based share awards like these strengthen MTN’s ability to attract and retain experienced leaders in a competitive telecommunications landscape. By tying significant portions of compensation to long-term outcomes, the company promotes accountability and strategic focus.
Analysts often view such programmes positively when they balance reward with measurable performance hurdles. MTN’s approach appears consistent with industry practices among major African multinationals.
