Telkom appoints former MTN CEO Mteto Nyati to board

SA’s third-largest mobile operator Telkom has appointed former MTN CEO Mteto Nyati as a non-executive director with effect from Friday, one of four appointments to fill soon-to-be vacant seats.

Nyati, who is also former CEO of JSE-listed fintech group Altron, is pegged for roles including on Telkom’s remuneration committee, and is credited with returning MTN to growth by overhauling employee engagement and transforming the customer experience, Telkom said on Friday.

Telkom has been underperforming its peers so far in 2022, with its share losing 38% in the year to date, while MTN has lost 21% and Vodacom 1.62%.

It has recently reported an outflow of cash and weaker growth than expected in its mobile business, while many have been disappointed by a lack of progress in its strategy to unlock value.

Telkom was expected to separately list its masts and towers business, Swiftnet, earlier in the year but delayed the transaction owing to volatility in the market after Russia’s invasion of Ukraine.

Telkom has also appointed Brian Kennedy to its board as a non-executive director, who is former managing executive of Nedbank Corporate and Investment Banking, as well as Prudence Lebina, CEO of TriAlpha Investment Management.

The group has also appointed Ipeleng Selele to its board, who is a qualified international strategist in clean energy, ESG, decarbonisation and maritime logistics.

Board members Navin Kabila, Fagmeedah Petersen-Cook and Kholeka Mzondeki will be retiring with effect from August 24, while Rex Tomlinson has resigned.

gernetzkyk@businesslive.co.za