MTN Awards Nigeria CEO Karl Toriola $335,000 in Performance Shares
The telecommunications group confirmed that the share allocations were made as off-market transactions on 31 March 2026, in line with JSE Limited Listings Requirements. All awards are subject to a three-year vesting period from the date of grant.
MTN Group Limited has awarded MTN Nigeria CEO Karl Toriola performance shares valued at approximately $335,000 (about R5.53 million) as part of its long-term incentive programme under the MTN Performance Share Plan 2010.
The telecommunications group confirmed that the share allocations were made as off-market transactions on 31 March 2026, in line with JSE Limited Listings Requirements. All awards are subject to a three-year vesting period from the date of grant.
The programme is designed to align executive performance with shareholder value creation and retain key leadership across MTN’s operations in Africa. The shares were priced at R192.50 per ordinary share, with allocations varying according to seniority and responsibility across the group.
Alongside Toriola’s award, MTN Group President and CEO Ralph Mupita received 207,633 shares valued at approximately R39.97 million, while Group Chief Financial Officer Tsholofelo Molefe was awarded 111,931 shares worth about R21.55 million.
Other senior executives also received allocations, including MTN South Africa CEO Ferdinand Moolman, who was awarded 104,545 shares valued at approximately R20.13 million. Senior Vice President for Markets, Ebenezer Asante, received 120,880 shares worth about R23.27 million.
Additional awards were granted to subsidiary directors and company secretaries across MTN’s operations in Nigeria, Ghana, South Africa, and other markets, reflecting the group’s broad-based incentive structure.
MTN confirmed that all executives with minimum shareholding requirements have met their obligations. It also noted that some senior leaders receive additional long-term incentives linked specifically to MTN Nigeria, supplementing their group-level awards.
The company said the vesting schedule has been aligned with its internal remuneration framework, with all awards set to mature over a three-year period, reinforcing its focus on performance-based compensation and long-term value creation.
