It’s been 10 days since the release of what I consider the best set of MTN financial results in my eight years at the Group, and time for a quick update.

Firstly, I want to thank you all again for your incredible hard work and commitment in the first half of this year which led to the delivery of the amazing results that I was proud to present to stakeholders on the 18^th of August.

Every day, I am inspired by the nearly 17, 000 MTNers who work tirelessly across our 16 markets to provide leading digital solutions for Africa’s progress. Thank you all so much, you really are making a difference in the lives of Africans.

Since the release of results, Tsholo and I have been on the first leg of our investor roadshow, which takes us across South Africa, United Kingdom and the United States. We have concluded the first leg of these meetings in South Africa and met our major shareholders. These meetings have been very good, and we are encouraged by the support we have for our strategy and strong financial results.

In this time, we have also released the first in our new vodcast series called ‘The Y’ello Chair’. If you haven’t had a chance to watch it, please do! In it, I say that with all humility, I think MTN is the most important company on the continent because we are at the forefront of driving digital inclusion which is essential for Africa to develop to its full potential.

Over the past three days, I have been meeting with my colleagues on the Executive Committee, in our first monthly meeting since changes to the Exco – which are effective on 1 November – were announced with results.

As I said at the time, the rationale for the changes was aligned to our strategy as we look beyond 2025 and position MTN for growth over the next three to five years towards 2030. We are on an exciting journey to create three platforms that will power Africa’s digital transformation and growth: Connectivity, Fintech and Digital Infrastructure.

I am most encouraged by the Exco meeting, and how we are moving forward together as a team, all dedicated to the wider Group mission and strategy.

During our off-site gathering, we were privileged to spend time with renowned US presidential historian Doris Kearns Goodwin. A Pulitzer Prize-winning, #1 best-selling author, Doris shared her extensive experience (including working in the White House with President Lyndon Johnson) and her vast knowledge of leadership.

She spoke about key leadership qualities as well as various themes. She provided a lot of food for thought.

Among the many valuable takeaways, she spoke about the need for resilience, diversity, agility and knowing when to rest and relax when you are leading in challenging and turbulent times. She also spoke about temperament as an important form of diversity on strong and resilient teams.

After three days with the Exco, I asked for her observations of us as a team. She said: “I’ve never seen such a group of people who were willing to talk to each other…It is a wonderful group of people – strongminded, laughing, hardworking.”

Of course, leadership does not only refer to the Exco – we are all leaders in different ways – and Doris’s enthusiasm was infectious! I would encourage you all to take inspiration from this remarkable 82-year-old and to read her books. (Among my favourites is “Leadership in Turbulent Times”.)

During the Group Exco offsite, we also focused on the transition priorities to 1 November 2025. We will be engaging all who are are affected by these throughout the month of September 2025. Our aim is to ensure a smooth and orderly transition that sets us up for a strong finish to the year as well as a strong start to 2026.

I believe I speak on behalf of all my Exco colleagues when I say that it is a privilege and honour to be in the leadership of Africa’s most important company. Our work is not always easy, but it’s essential and it’s transformative for the people of Africa. We are at the forefront of driving digital and financial inclusion for Africa and changing lives.

We will update you periodically as we are progressing on the transition to 1 November 2025, but if you have any questions in the interim, please send these to your respective group Exco members or message me on “Ask Ralph” on the MTNMove app.

Let’s keep pushing ahead!

Ralph