Globacom, a leading telecom operator in Nigeria, has appointed Ahmad Farroukh as its new Chief Executive Officer, following a series of challenges related to its subscriber base.
Farroukh, an industry veteran with over 20 years of experience, brings a wealth of expertise to the role, having previously held significant positions in MTN Group and Mobily.
Mr. Farroukh has been credited as the chief executive who established the prominence of Spacefon – Areeba, which later evolved into MTN, the most dominant telecom brand in Ghana. His telecom career began with Investcom Group, which was later acquired by MTN Group. Farroukh served as the Managing Director of MTN Ghana in 1999 and later became the CEO of MTN Nigeria in 2006.
His leadership played a critical role in solidifying MTN’s position as a leading telecom provider in West Africa and beyond. Additionally, Farroukh held executive roles in MTN South Africa and Mobily in Saudi Arabia, where his strategic direction helped drive the company’s growth during pivotal phases. This leadership change marks a historic shift at Globacom, where founder Dr. Mike Adenuga Junior has led the company as both Chairman and CEO since its inception. According to a company statement, the transition is part of a broader strategy to enhance corporate governance and improve operational efficiency.
This move comes in the wake of the Nigerian Communications Commission’s (NCC) regulatory audit, which uncovered discrepancies in Globacom’s subscriber data, leading to a dramatic 69.2% decline in its subscriber base over a six-month period—dropping from 62.19 million in March to 19.15 million by September. Globacom’s board highlighted that the appointment of Farroukh is pivotal in addressing the challenges facing the company, particularly reversing the decline in subscriber numbers and driving strategic reforms to restore confidence in a highly competitive telecom market.
The company also announced the formation of a new board to collaborate with Farroukh, further emphasizing its commitment to improving governance practices in line with the NCC’s recent push for higher standards. Farroukh’s proven track record in subscriber acquisition strategies across Africa makes him well-positioned to lead Globacom through this critical phase. In addition to his key roles in MTN and Mobily, he served as Group CEO of Smile Communications Nigeria Limited, further enhancing his leadership credentials in the African telecom sector.
Farroukh holds a master’s degree in Business Administration and Accounting from the Lebanese American University and is a Certified Public Accountant (CPA) from New York. His extensive background in subscriber acquisition and strategic leadership roles across multiple markets will be crucial as he guides Globacom toward recovery and growth in the highly competitive telecom industry.
