MTN : Unlocking Value While Driving Socioeconomic Progress

On March 10, 2021, Ralph Mupita, the new CEO of Africa’s largest telecommunications company, presented the group's 2020 annual results and unveiled a new strategy to "drive growth and unlock value." Despite MTN's leadership position in most of the 21 markets in which it operated, the company's share price was trading at 15-year lows putting Mupita under pressure to design and implement a turnaround. The new strategy he and his team have created contemplates spinning off The firm’s fintech business as a way to highlight value imbedded in the company but not recognized in its stock price. It also entails doing more to create shared value in each of its markets. But these were just two of the four key priorities. The strategy also called for building valuable technology platforms and delivering industry-leading connectivity. Could MTN's leadership team achieve all four priorities within five years as promised, or were they trying to do too much too quickly? Did they have the right goals, timing, and team in place to do succeed? Although Mupita was convinced that swift action and dramatic change were needed to succeed, there were skeptics both inside and outside the firm.The goal of this case is to explore one firm's attempt to achieve both purpose and profit (drive socioeconomic progress and unlock shareholder value). It also allows students to explore the process of strategy formulation and strategy execution, and to assess MTN’s new corporate strategy. Does the new CEO have the right strategy and is it going to work? What factors make it likely to succeed, or not?