MTN Group announced the appointment of Karl Toriola as chief executive officer of MTN Nigeria Communications.

MTN Group also announced the appointment of Ferdi Moolman as chief risk officer, a new Group Executive Committee (exco) position.

Both are effective from 1 March 2021.

Karl Toriola is the current vice president for MTN Group’s West and Central Africa (WECA) region.

Ferdi Moolman is the current CEO of MTN Nigeria, serving MTN Nigeria with distinction in this role for the past five years.

Karl Toriola, in his five years as VP of MTN’s WECA region, has overseen the progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon over the past two years.

In addition, the WECA markets have made commercial and strategic strides, including the improvement of market share and the development of mobile financial services. Mobile money business in particular is an important driver of the group’s medium- to long-term growth strategy.

Since joining the group in 2006, Karl (48) has also held a number of senior operational roles at MTN, including chief technical officer of MTN Nigeria and CEO of MTN Cameroon. He is also a board member on a number of companies within the group, including MTN Nigeria.

MTN will announce the name of the VP for WECA after completing the strategy review by the end of November 2020.

MTN Group owns 78.8 percent of MTN Nigeria, which is listed on the Nigerian Stock Exchange and contributes around a third to the group’s service revenue.