The Chief Executive Officer of MTN Nigeria, Karl Toriola, has condemned xenophobia and violence against foreign nationals, while emphasizing that MTN Nigeria is fundamentally a Nigerian company despite the MTN Group’s South African origins.
Speaking during an interview on ARISE News, Toriola described xenophobia as “abhorrent” and called for tolerance, noting that violence against any nationality or community is unacceptable.
“We condemn acts of xenophobia, of violence against any community, any group of people, any tribe, any nationality, anywhere in the world. It’s utterly abhorrent,” he said.
Addressing perceptions that MTN is solely a South African company, Toriola explained that while MTN Group was founded in South Africa and remains listed on the Johannesburg Stock Exchange, its ownership structure has evolved into a globally diversified one.
MTN’s Broad Ownership
According to him, African investors currently hold about 50% of MTN Group’s shares, while approximately 27% is owned by North American investors. The remaining shareholding is spread across investors from the United Kingdom, Europe, the Middle East, and the Asia-Pacific region.
Toriola stressed that MTN Nigeria operates independently as a Nigerian entity. The company is domiciled in Nigeria, listed on the Nigerian Exchange, and complies fully with its tax and regulatory obligations.
“MTN Nigeria specifically is a Nigerian company through and through. We are domiciled in Nigeria. We’re listed on the Stock Exchange. We pay all the taxes, duties and levies that we’re expected to in a very responsible, compliant manner,” he said.
The CEO also highlighted the company’s Nigerian leadership, revealing that he is Nigerian and that all but one member of the executive committee are Nigerians. He added that MTN Nigeria employs only four expatriates, describing it as one of the lowest expatriate headcounts among multinational companies operating in the country.
He also underscored MTN Nigeria’s broad local ownership, stating that the telecom operator has more than 201,000 retail shareholders. Through pension fund investments, he added, an estimated 11 million Nigerians have an indirect ownership stake in the company.
Reaffirming the company’s commitment to the country, Toriola said MTN Nigeria remains proud of its Nigerian identity while contributing to the broader vision of a pan-African telecommunications group with globally diversified ownership.SEO Assets
