Vodacom Group has updated its profit outlook on the back of the acquisition of East Africa’s largest mobile phone company that’s helping it push into financial services.
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Safaricom shares fell the most in four months after East Africa’s biggest company by market value said profit growth will slow even as the wireless carrier expands its popular mobile banking service.
Bharti Airtel’s Kenyan unit has agreed to combine operations with Telkom Kenya, creating the second-largest telecommunications operator in the East African nation after Safaricom.
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.
Safaricom’s market share dropped 1.6 percentage points to 65.4% in the three months to June as Bharti Airtel’s Kenyan unit and Telkom Kenya increased mobile phone customers at a faster pace.
Vodacom Group shares fell after the wireless carrier with the most South African customers reported slower revenue growth in its domestic market, as a sluggish economy hurt consumer spending.
Safaricom has accused Kenya’s telecommunications regulator of failing to enforce investment requirements for smaller competitors in return for their licences, meaning its market share went unchallenged.
Vodacom Group has cut its dividend and reported earnings that missed estimates as Africa’s biggest wireless carrier by market value absorbed the acquisition of a stake in Kenya’s Safaricom and expanded its network
MTN has emerged as Africa’s most valuable telecommunications brand, according to a new research report by brand valuation and strategy consultancy Brand Finance. The MTN brand is worth US$3.3bn, up 9% from
Vodacom had 73.6m active customers across its various markets at the end of December, an increase of 13% year on year, the JSE-listed telecommunications group said on Wednesday in a