Former MTN CEO Sifiso Dabengwa has died. Photo: Simphiwe Mbokazi Independent Newspapers
Nicola Mawson
Zimbabwean-born Sifiso Dabengwa, who was CEO of Africa’s largest mobile network operator, MTN, between 2011 and 2015, died of cancer this morning.
Family spokesperson Themba Sibanyoni announced his death “with deep sorrow” in a media release issued this afternoon.
“Dabengwa was a titan in the telecommunications industry and an astute businessman. His tenure as CEO of MTN Group from 2011 to 2015 was marked by visionary leadership, integrity, and dedication that drove significant advancements in the industry,” said Sibanyoni.
Sibanyoni said Dabengwa, who leaves his wife and four children, has a legacy that extends far beyond the boardroom. “He was an advocate for education and a fervent believer in the power of technology to transform lives.”
However, Dabengwa left MTN under a cloud when the company was under pressure from Nigerian authorities to pay a fine of $5.2 billion (R93bn) for failing to disconnect five million unregistered subscribers from its network under that country’s equivalent of South Africa’s RICA law.
Nigeria had been tightening security as it battled an Islamist insurgency when its registration requirement came into effect.
“Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the company and its shareholders, have tendered my resignation with immediate effect,” said Dabengwa in a statement upon his departure.
Following his departure from MTN, he was paid some R23.7 million for loss of office, which – together with his other earnings – took his remuneration to R40.6m. At the time, the Public Investment Corporation described the payment as excessive.
The government pension fund investor said it had told MTN that this was “a gross misuse of shareholder funds”.
Between 2018 and 2020, Dabengwa served on Eskom’s board and also worked with IT company Gijima. According to Zimbabwe-based Pindula News, Dabengwa had a BSc in Electrical Engineering, and an MBA.
BUSINESS REPORT