News Highlights:
- Ahmad Farroukh’s Abrupt Exit
- Regulatory Challenges and Market Share Decline
Ahmad Farroukh, who assumed the role of CEO at Nigerian telecom giant Globacom last year, has reportedly resigned after just a month in office.
Digital TimesNG reports that while the company has yet to release an official statement, sources close to the matter told TechCabal that his abrupt departure stemmed from challenges adapting to Glo’s rigid corporate structure.
Once a dominant force in Nigeria’s telecom sector, Globacom has faced significant struggles in recent years.
In 2024, it suffered a massive blow, losing over 40 million subscribers due to regulatory non-compliance—specifically, failing to properly register users with their National Identification Numbers (NINs).
This led to a sharp decline in its market share, which plummeted to 12%, leaving it trailing far behind competitors like MTN and Airtel.
Farroukh, a seasoned executive with a track record at MTN and Smile Communications, reportedly found it difficult to align his leadership approach with Glo’s highly centralized management style.
The company’s founder, Mike Adenuga, is known for maintaining tight control over operations and closely intertwining his business interests with Glo’s strategic direction.
This level of oversight appeared to conflict with Farroukh’s preference for structured corporate governance, ultimately leading to his swift exit, the source told TechCabal.
Frequent leadership shakeups have become a recurring theme in Africa’s telecom industry.
MTN Group, for example, recently reshuffled its top executives, appointing Mitwa Ng’ambi and Wanda Matandela to spearhead operations in Côte d’Ivoire and Cameroon as part of its ambitious “Ambition 2025” strategy.
The industry-wide trend is clear: adapt to evolving market demands or risk being left behind.
For Globacom, the path forward is fraught with challenges but not without hope. The company must secure a CEO who not only understands the intricacies of Nigeria’s highly competitive telecom landscape but can also navigate its internal corporate dynamics.
This may necessitate a shift in Glo’s management structure to attract and retain top-tier leadership.
Beyond leadership changes, resolving regulatory issues and rebuilding customer trust are imperative if Glo hopes to regain its footing.
How the company responds to these challenges will be a defining factor in its future within Nigeria’s telecom market and beyond.
