Dabengwa steps down as MTN CEO as operator group comes under pressure

Sifiso Dabengwa will leave MTN with immediate effect, MTN said in a statement to shareholders today.

His exit — which MTN is describing as a resignation — comes amid the record-setting US$5.2 billion fine imposed by a Nigerian regulator after the group’s Nigerian operation allegedly failed to disconnect 5.1 million unregistered SIM cards by a specified deadline.

Former MTN Group CEO and current non-executive chairman Phuthuma Nhleko will take the reins as executive chairman on an interim basis until a replacement to Dabengwa has been found.

Dabengwa has been group CEO of MTN since March 2011, when he took the leadership role from Nhleko. He first joined MTN in 2004 as CEO of MTN Nigeria. He is a former executive director of Eskom.