MTN group moves to replace Nhleko with Jonas as Chairman

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By Loni Prinsloo

Nhleko has been CEO or chairman of company since 2001

MTN is reeling from $10 billion of claims in Nigeria market

MTN Group Ltd. is considering a replacement for long-time Chairman Phuthuma Nhleko, with South Africa’s former Deputy Finance Minister Mcebisi Jonas lined up as his possible successor, according to people familiar with the matter.

Africa’s biggest wireless carrier by subscribers was mulling a change before the eruption last month of a crisis in Nigeria, where authorities are demanding more than $10 billion in back taxes and funds they allege were illegally transferred, said the people, who asked not to be named as the plan isn’t public. Before starting a formal process, the Johannesburg-based company will have to resolve the current dispute, they said.

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