MTN Ghana CEO, CFO awarded over $400,000 in performance shares

MTN Ghana Chief Executive Officer Stephen Blewett and Chief Financial Officer Antoinette Kwofie have been awarded performance shares collectively valued at more than US$412,000, according to a group announcement released on the JSE Stock Exchange News Service on April 7, 2026.

Blewett received 21,382 MTN Group shares valued at approximately R4.12 million (US$252,000), while Kwofie was granted 13,660 shares worth about R2.63 million (US$160,000). Both executives serve as directors of Scancom Ghana PLC, the subsidiary operating MTN’s business in Ghana.

The awards, transacted on March 31, 2026, were granted under the telecommunications giant’s Performance Share Plan 2010 at a market price of R192.50 per share. They remain subject to performance conditions and will vest over a three-year period from the award date.

Sugentharen Perumal, another director of Scancom Ghana PLC, received 35,436 shares valued at approximately R6.82 million (US$415,000).

Group leadership also receives awards

The share awards extended to key leadership across MTN’s major African operations. MTN Group President and CEO Ralph Mupita received the largest award of 207,633 shares, valued at approximately R39.97 million (US$2.43 million). Group CFO Tsholofelo Molefe was awarded 111,931 shares worth approximately R21.55 million (US$1.31 million).

Ebenezer Asante, Senior Vice President for Markets and a prescribed officer of MTN Group, received 120,880 shares valued at approximately R23.27 million (US$1.42 million).

Other senior executives receiving awards include MTN South Africa CEO Ferdinand Moolman (104,545 shares worth R20.13 million), Paul Norman (56,333 shares valued at R10.84 million), and Yolanda Cuba (62,718 shares worth R12.07 million).

The company confirmed that all award recipients with Minimum Shareholding Requirements obligations have fulfilled those requirements. The vesting date for the awards has been accelerated to December 10, 2028, aligning with the date on which the awards would normally have been granted.

Tamela Holdings Proprietary Limited acted as Lead Sponsor, with J.P. Morgan Equities Proprietary Limited as Joint Sponsor.