Vodacom Group increased capital expenditure in its South African operation by more than 10% in the last year as it fought to regain network leadership from rival MTN.
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Vodacom Group is mulling a bond issue and will pay a smaller proportion of its earnings in dividends as it looks to finance new growth plans.
Vodacom Group on Monday declared a full-year dividend of R4.30/share after reporting a solid performance from South Africa, its biggest market.
MTN South Africa grew its subscriber base by 7.1% at the end of March 2022, from a year ago, to reach 34.5 million subscribers.
MTN Group lifted first quarter pretax profit by 21.1% year on year, supported by service revenue growth amid demand for data and financial services.
Two of South Africa’s biggest fibre providers, Vumatel and Dark Fibre Africa, are being folded into a new infrastructure holding company to be led by Vuma CEO Dietlof Mare.
Safaricom is encouraged by the positive outlook in Ethiopia and plans to start operations there this year, its CEO said.
MTN has linked the remuneration of its senior executives with the group’s environmental, social and governance targets.
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