As protests in South Africa spark retaliatory outrage across the rest of Africa, Ralph Mupita, MTN group CEO, has underscored the company’s true pan-African nature, emphasising that its financial and operational heart beats far beyond South Africa’s borders.
The reality of Africa’s corporate landscape is that successful multinationals quickly outgrow their countries of origin.
According to GSMA Intelligence, Africa is the fastest-growing mobile market globally, driven predominantly by large population centres such as Nigeria, Ethiopia, and the Democratic Republic of the Congo. Targeting a company solely based on its headquarters ignores the vast, decentralised nature of its continental wealth generation and local reinvestment.
In an interview with Bloomberg detailing the pressure South African firms face amidst these protests, Mupita dropped a crucial statistic that reframes the entire debate.
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“MTN makes less than 20 percent in South Africa and makes 80 percent of our earnings elsewhere,” he
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