Modupe Kadri, the  Chief Financial Officer (CFO) and Executive Director of MTN Nigeria Plc, has further consolidated his position as a minority shareholder in the leading telecom services provider.

Through MTN Nigeria’s employee share acquisition scheme, Kadri has acquired an additional 1,031,000 shares, increasing his stake from 0.0055 percent to 0.0106 percent.

Modupe Kadri has expanded his ownership stake through the company’s employee share acquisition scheme. With the acquisition of an additional 1,031,000 shares, Kadri’s stake has risen from 0.0055 percent to 0.0106 percent. 

The recent transaction, completed on June 2, 2023, has propelled Kadri’s ownership to a total of 2,142,000 shares, valued at approximately N535.29 million ($1.15 million) based on the current trading price of N249.90 ($0.54) per share.

In a recent transaction on June 2, 2023, Kadri’s ownership has surged to a cumulative total of 2,142,000 shares, which amounts to approximately N535.29 million ($1.15 million) based on the prevailing trading price of N249.90 ($0.54) per share. 

Modupe Kadri assumed the role of CFO in March 2020 after an extensive tenure at MTN Nigeria, which began in 2007 as the general manager of financial operations.

After joining MTN Nigeria in 2007 as the general manager of financial operations, Modupe Kadri took on the position of CFO in March 2020 after an extensive tenure within the company, 

Kadri’s robust finance expertise has been instrumental in driving the growth and success of the company. Since assuming the role of CFO, MTN Nigeria has experienced a remarkable upswing in both revenue and profit. 

In the year 2022, the telecom giant disclosed impressive financial results, reporting revenue of N2.012 trillion ($4.35 billion) and a profit of N358.2 billion ($775.36 million). These figures mark a substantial increase from the previous year, where the company recorded revenue of N1.346 trillion ($2.92 billion) and a profit of N205.2 billion ($444.2 million) in 2020. 

The impressive performance serves as a testament to Kadri’s capability in steering the company towards sustained growth and profitability, even in the face of industry complexities.

Guided by Kadri’s leadership, MTN Nigeria has consistently achieved remarkable milestones. In the first quarter of the 2023 fiscal year, the company reported impressive financial performance, with a 4.6 percent increase in profit, reaching N101.3 billion ($219.27 million). Furthermore, revenue experienced a substantial surge of 20.6 percent, amounting to N568.1 billion ($1.23 billion). 

The positive indicators serve as a testament to Modupe Kadri’s unwavering commitment to driving growth and delivering value to shareholders. Furthermore, Kadri’s recent acquisition of additional shares in MTN Nigeria underscores his unwavering belief in the company’s long-term potential. 

In his role as the CFO of the telecom giant, Kadri’s strategic financial acumen has played a significant role in driving the company’s robust financial performance. His keen financial expertise has positioned him as a key player in the organization’s success, enabling him to make vital contributions to its financial stability and growth.