Vodacom Group’s latest trading update, for the quarter ended December 2018, makes for sobering reading, particularly for those invested in the telecommunications sector.
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The weak South African economy, coupled with consumers “optimising” promotional data, has led to a surprise decline in Vodacom’s service revenue in the quarter ended 31 December 2019.
MTN Uganda is in talks to sell an unspecified stake to the state-run National Social Security Fund that would widen local shareholding currently at only 5%, President Yoweri Museveni’s office said.
MTN Group on Wednesday confirmed reports that three senior managers have been arrested and deported by the Ugandan government.
WorldRemit, a UK company that specialises in money transfers into Africa, plans a new funding round in the next six months ahead of a potential initial public offering or buyout.
Shareholders at an unprecedented number of JSE Top 40 companies have, in the past year, voted against remuneration policies and/or their implementation.
Nigeria is preparing rules that will allow wireless carriers to transfer cash, softening a previous policy that protected the turf of banks in Africa’s most populous country.
MTN Group executives may have expected investors to cut them a little slack after they got potential liabilities of $8.1-billion in Nigeria reduced to $53-million last month. Not so.
Plans to build a superfast submarine broadband cable connecting South Africa and countries in the Middle East, South-Central Asia and Europe, are forging ahead, according to reports.
Eight MTN Group executives netted over 1.3 million shares in the telecommunications giant, valued at R116.9-million at the market price when they were issued at the end of December.