It was no cause for concern that MTN’s new group chief financial officer, Ralph Mupita, currently the CEO of Old Mutual Emerging Markets (Omem), did not come from an accounting background, said Peter Takaendesa, a portfolio manager at Mergence Investments. Both the deputy chief financial officer, Gunter Engling, as well as Rob Shuter, MTN’s new group CEO effective March 2017, were chartered accountants and had strong financial backgrounds, Takaendesa said. Mupita, who starts in April 2017, holds a BSc Engineering (Hons) and an MBA. After 16 years at Old Mutual, he said the time was right to pursue challenges outside the financial services industry, "He has the requisite experience and strategic insight in dealing in emerging markets. The most important thing for MTN is that they ensure adequate transformation at the top level," Takaendesa said.

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