Globacom, Nigeria’s third-largest mobile network operator, is set for a significant leadership transition. Multiple sources confirm that Ahmad Farroukh, a seasoned telecommunications executive and former CEO of MTN Nigeria, will soon take the reins as the new CEO. This appointment marks the first major leadership shift since the company was founded in 2003 by billionaire Mike Adenuga, who has led it since inception.
Farroukh’s appointment comes at a critical time for Globacom, following a subscriber reduction of over 41 million due to a regulatory audit conducted by the Nigerian Communications Commission (NCC). With its subscriber base reduced to 19.1 million, the network now commands just 12.39% of the telecom market. The leadership change is expected to bring fresh strategies to recover from the recent setbacks.
An Experienced Industry Leader with a Global Footprint
Farroukh’s telecom career spans multiple regions and companies. He initially led Investcom Group, later acquired by MTN, and became a key figure in MTN’s African operations. His tenure as CEO of MTN Nigeria (2006–2010) coincided with a phase of rapid subscriber growth. He later took on leadership roles at MTN South Africa and Mobily in Saudi Arabia. Most recently, Farroukh served as Group CEO at Smile Communications, where he focused on expanding the company’s footprint in Nigeria and other African markets.
Regulatory Moves and Strategic Overhaul
Sources close to the development reveal that Globacom has already notified the NCC about the executive changes and has restructured its board to align with its new strategic focus. These efforts come amidst mounting competition from other telecom giants like MTN and Airtel. The formal announcement of Farroukh’s appointment is expected within days, signaling a fresh chapter for the company.
Farroukh’s expertise in scaling operations, securing investments, and turning around underperforming businesses will be crucial as he navigates the challenges ahead. His appointment could also catalyze Globacom’s efforts to regain lost market share and introduce new services to meet evolving consumer demands.
With extensive telecom industry knowledge and a CPA background, Farroukh’s leadership is expected to redefine Globacom’s competitive strategy in Nigeria’s vibrant telecommunications sector.
This move reflects a broader trend among telecom companies in Africa seeking seasoned executives to guide them through market challenges and growth opportunities.