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MTN, the largest mobile operator in Africa, announced on Wednesday the appointment of Vodacom Ghana's former CEO, Yolanda Cuba, as the group's head of digital technologies and fintech.
Cuba will lead the strategic expansion of MTN's efforts in financial services and digital solutions, as well as its transformation into a digital operator, the company said.
Last week, the group's CEO, Rob Shuter, told MTN Business Day is positioning itself for a future in which his vocal activity will no longer be his daily bread.
MTN derives about 59% of its voice revenue, a figure that should decline as more and more people turn to Internet services such as Skype, WhatsApp and Facetime to make voice calls. The group estimates that voice revenues will continue to fall by about 2% per year.
Shuter MTN needs 90% of its revenues come from financial, digital, wholesale and B2B services. MTN wants digital and fintech to represent at least 15% of its revenues over the next few years.
Earlier in July, MTN announced a life insurance product offering plan in partnership with Sanlam.
"This role gives me the opportunity to stimulate digital innovation and financial inclusion within the group's vast footprint," said Cuba.
She joined MTN after working for Vodacom as Head of Strategy and Mergers and Acquisitions and previously at the head of her Ghana unit.
To date, EOH's new CEO, Stephen van Coller, was MTN's vice president of digital services until August 2018.
"We are very pleased to include in the MTN group a Yolanda caliber," Shuter said in a statement.
He described Cuba as "a unique combination of experience in operational telecommunications as well as in the areas of finance, financial services and digital".
The date of entry into office of Cuba in this role has not yet been announced.
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