Vodacom Group spent a record R5.8-billion on its network in South Africa in the past six months to fight load shedding and improve its network quality and performance.
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Vodacom Group plans to roll out financial services products in its new market of Egypt, using the super app it is developing alongside China’s Alibaba Group.
Vodacom Group’s half-year headline earnings fell 9.5% due to start-up losses in Ethiopia and higher finance costs.
Safaricom, Kenya’s biggest telecommunications operator, has reported a 10% drop in its first-half net income.
Shares of Safaricom surged more than 9% on Friday after it secured a mobile financial services licence in Ethiopia.
A Safaricom-led investor group, which includes Vodacom, has launched mobile services in Ethiopia after securing an operating licence from the government.
M-Pesa and Visa have launched a virtual payment card in a bid to capture some of Africa’s $40-billion/year subscriptions market.
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.
Safaricom is encouraged by the positive outlook in Ethiopia and plans to start operations there this year, its CEO said.