By Our Correspondent
Lagos, Jan. 22, ’25 (TNZ) Ahmad Farroukh, who took over as CEO of Nigerian telecom giant Globacom last year, has reportedly stepped down after just a month on the job.
While Glo hasn’t officially commented yet, insiders said the quick exit has a lot to do with the company’s rigid structure.
Globacom, once a major player, has been struggling for some time now.
In 2024, it lost over 40 million subscribers because of issues with regulatory compliance. This is basically, not properly registering users with their NINs.
That disaster saw its market share, dropping to 12 per cent. This put it far behind competitors like MTN and Airtel.
Farroukh, a veteran Executive with experience at MTN and Smile Communications, apparently couldn’t reconcile his management style with Glo’s centralised way of doing things.
Founder, Mike Adenuga is known for running a tight ship, keeping a strong grip on operations and blending his business interests directly with the company.
This setup reportedly clashed with Farroukh’s background in more structured organisations, prompting his early departure.
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Globacom’s leadership turnover is part of a broader trend in Africa’s telecom industry.
For instance, MTN Group recently made big leadership changes, appointing Mitwa Ng’ambi and Wanda Matandela to lead its operations in Côte d’Ivoire and Cameroon.
This is part of its “Ambition 2025” plan. The focus across the industry is clear: adapt or risk falling behind.
For Glo, the road ahead is tough but not impossible. They’ll need to find a new CEO, who understands Nigeria’s competitive telecom market and can tackle the challenges head-on.
That might also mean loosening the reins on their management structure to attract top-tier talent.
Beyond that, fixing their regulatory issues and winning back customer trust are non-negotiables, if they want to regain ground in the market.
How Glo handles this situation could make or break its future in Nigeria and beyond. (Techpoint)
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