Ahmad Farroukh, appointed CEO of Nigerian telecommunications giant Globacom in October 2024, has reportedly stepped down after just one month.
While the company has yet to release an official statement, TechCabal reported that Farroukh’s departure stems from challenges within Globacom’s organisational structure.
Globacom previously lost over 40 million subscribers due to regulatory non-compliance.
Farroukh, a seasoned executive with prior stints at MTN and Smile Communications, reportedly struggled to align his management style with Globacom’s centralised operational structure, heavily influenced by founder Mike Adenuga.
Mike Adenuga has historically maintained tight control over operations, with minimal separation between his business interests and Globacom’s management. This centralised approach may have conflicted with Farroukh’s experience in more structured organisations, leading to his early exit.
Globacom’s leadership instability comes on the heels of significant regulatory challenges. In 2024, the Nigerian Communications Commission (NCC) penalised the company for non-compliance in registering over 40 million subscribers without valid National Identification Numbers (NIN).
The fallout from this compliance breach saw Globacom’s market share plummet to 12%, marking a 60% decline and raising questions about its ability to compete with rivals like MTN and Airtel.
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Farroukh’s abrupt exit highlights a growing trend of leadership transitions across Africa’s telecom industry. For instance, MTN Group recently announced key executive changes, including the appointments of Mitwa Ng’ambi and Wanda Matandela to lead operations in Côte d’Ivoire and Cameroon, respectively. These moves, part of MTN’s “Ambition 2025” strategy, reflect a sector-wide focus on aligning leadership with strategic goals in response to evolving market demands.
Globacom must now address its internal and external challenges to stabilise its operations. Key priorities include appointing a new CEO with the expertise to navigate Nigeria’s competitive telecom landscape and overhauling its governance structures to attract top talent.
Additionally, rebuilding consumer trust and addressing regulatory concerns will be essential for reclaiming its market share.
As Africa’s telecom sector continues to evolve, companies like Globacom face mounting pressure to balance leadership stability with adaptability. The company’s response to this crisis will set a precedent for its future in Nigeria and the wider region.
