Ralph Mupita, CEO of the MTN Group, has been appointed to the board of Dangote Fertiliser, a subsidiary of the Nigerian conglomerate Dangote Industries, as the company prepares for an upcoming IPO on the Nigerian Exchange (NGX) this year.
With an engineering background, Mupita began his career at the South African group Old Mutual, where he held various leadership positions in finance and asset management. He joined MTN in 2017 as Chief Financial Officer, before becoming CEO of the group, the largest telecommunications operator in Africa by number of subscribers.
He is known for leading the historic IPO of MTN Nigeria in 2019, one of the country’s largest IPOs. Under his leadership, MTN Nigeria saw its revenues quadruple, and its market capitalization reach approximately USD 8.6 billion, solidifying its position as one of the most valuable stocks on the NGX.
Dangote Fertiliser, which currently produces 3 million tons of urea per year, plans to expand its facilities in Lagos and build a new plant in Ethiopia. The company aims to become the world’s largest fertilizer producer by 2028.
As a flagship subsidiary of the Dangote Group, the company aims to strengthen institutional investor confidence and prepare for its IPO through this appointment, leveraging Mupita’s proven track record in listing and growing African listed companies.
