MTN Group, which after six years is still struggling to exit its Middle Eastern businesses, has awarded its directors substantial long-term performance (LTI) awards, with the CEO’s 2025 award more than double that which vested in 2024.
This week, the group announced that its President and CEO, Ralph Mupita, had been awarded R39.97 million worth of shares in the company, while other executives received about R120m of shares between them.
In 2024, Mupita received R18.43m in (LTI) awards, and the year before, R45.80m, according to the group’s annual report.
The long-term incentive shares are awarded based on the group’s success in implementing its objectives over the medium to long term.
The MTN board also evaluates its executives’ performance based on shareholder return, operating free cash flow, return on equity, and…