The company also announced that Ahmad Farroukh would replace Bulbulia as head of the company's South African operations.
“In order to respond adequately to challenges and opportunities in our markets, we continue to take appropriate steps to enhance our competitive position, and to ensure the long-term sustainability of our business," said Group President and CEO Sifiso Dabengwa
MTN said that the latest changes are in line with the group’s strategy to regularly rotate key talent within the business.
(READ MORE: MTN makes key leadership changes)
Bulbulia is a founding member of the [DATA MTN:MTN Group] and was the chief financial officer of MTN South Africa, prior to being appointed CEO of MTN SA. Farroukh is a former CEO of MTN Nigeria, and served in a similar role at MTN Ghana. Before assuming the role of group chief operating executive, he was Vice-President of the West and Central Africa (WECA) region. Both Bulbulia and Farroukh will continue to serve on the Group EXCO.
As CEO of MTN South Africa, Farroukh will face growing competition in the company's home market, which has been overtaken by Nigeria as the group's biggest revenue earner.
Bulbulia will help oversee the company's growth in other lucrative markets. MTN has operations in nearly two dozen countries across Africa and the Middle East.