Table of Contents
Key Points
- Ahmad Farroukh brings over 20 years of telecom experience, including executive roles across MTN and Mobily, making him well-suited to guide Globacom's transformation.
- A recent NCC audit revealed a sharp drop in Globacom's subscriber base, falling 69.2% within six months, highlighting the need for strategic reform.
- The establishment of a formal board aligns with the NCC’s industry standards, showcasing Globacom's commitment to improved governance.
Globacom, a major telecommunications provider in Nigeria, has appointed Ahmad Farroukh, a veteran of the telecom industry, as its new Chief Executive Officer. This leadership change aims to boost Globacom's corporate governance and performance, in alignment with recent Nigerian Communications Commission (NCC) standards calling for improved regulatory compliance in the sector.
Farroukh’s extensive telecom experience
Ahmad Farroukh brings a wealth of experience from Africa and the Middle East, making him well-suited to steer Globacom through a transformative period. His career began in 1995 with Investcom Group, which was later acquired by MTN Group. Farroukh held senior roles, including as CEO of MTN Nigeria from 2006 to 2010 and CEO of MTN South Africa in 2014. He also led Mobily, Saudi Arabia’s second-largest telecom provider, until 2017 and most recently served as Group CEO of Smile Communications Nigeria Limited in 2019. Farroukh holds an MBA and a degree in Accounting from the Lebanese American University and is a Certified Public Accountant (CPA) from New York.
Urgency for subscriber engagement and reform
Farroukh’s appointment comes during a challenging time for Globacom. The Nigerian Communications Commission reported a steep drop in Nigeria’s telecom subscriber base, from 219.3 million in the first quarter of 2024 to 154.9 million in the third quarter—a 69.2 percent decline. This urgent situation requires a leader with extensive operational expertise to enhance data accuracy and rebuild subscriber engagement. Farroukh’s experience in managing large-scale telecom operations will be pivotal in restoring customer confidence and driving sustainable growth for Globacom.
Commitment to governance and strategic direction
Globacom’s creation of a formal board underscores its commitment to enhanced corporate governance in line with NCC’s expectations. This new governance framework is anticipated to improve regulatory compliance, address operational complexities, and enable effective reform. With Farroukh at the helm, Globacom aims to tackle these challenges directly, focusing on subscriber recovery and improved market position. Stakeholders will be closely monitoring Globacom’s progress as it works to regain its competitive edge and secure long-term stability in Nigeria’s dynamic telecom sector.
