MTN South Africa's CEO Mteto Nyati resigns, to be replaced by Motsa

Mteto Nyati, outgoing CEO, MTN South Africa

Africa’s biggest mobile phone operator MTN Group said on Tuesday that Mteto Nyati, the chief executive of its South African unit, will be resigning in March and will be replaced by Godfrey Motsa on the same day.

Motsa is currently a vice president of the South and East Africa region at MTN Group, and has more than 10 years of experience in the mobile telecoms industry.

Motsa was previously CEO of Vodacom in Lesotho and the Democratic Republic of the Congo, and more recently Chief Officer Consumer Business Unit at Vodacom SA.

MTN Group reported a $108 million annual loss last week, its first in two decades, hit by a regulatory fine in Nigeria and unfavorable currency moves.

MTN agreed to pay a fine of 330 billion naira ($1.1 billion), reduced from $5.2 billion, in June last year after a prolonged legal battle to end a dispute in Nigeria over missing a deadline to cut off unregistered SIM cards.