Africa’s mobile phone operators are ramping up plans to bring banking to millions of Africans, in some cases for the first time, after the coronavirus crisis caused a surge in use of digital financial services.
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Telkom Kenya has called on the industry regulator to ensure a level playing field, weeks after the company abandoned plans to combine operations with Airtel Africa’s domestic unit.
The largest wireless carriers operating in Africa are starting to form partnerships ahead of making offers for new licences to be awarded by Ethiopia.
Vodacom Group has moved to simplify its structure, creating a standalone South African operation and appointing an MD, a newly created role that will be filled by Vodafone executive Balesh Sharma.
Vodacom Group has turned in a strong financial performance, allowing it to hike its full-year total dividend by 6.3% to R8.45/share before tax despite the darkening economic situation.
Safaricom, weighing up an offer for Ethiopia’s telecommunications business later this year, plans to take on debt to fund a joint bid by a consortium including parent Vodacom and two other entities.
Vodafone Group will hand over management of its Ghana unit to the UK carrier’s separately listed South African division in April, the latest step to bring the company’s operations on the continent under one roof.
Every generation or so, money goes through an evolutionary shift, and 10 years from now the fiat currencies currently in use will be regarded as relics of a bygone age, much like the fax machine.
Vodacom Group eked out a 1.2% improvement in normalised operating profit for the six months ended 30 September 2019 on the back of 2.5% growth in both normalised revenue and service revenue.
Safaricom and parent Vodacom Group plan a joint bid for an Ethiopian telecommunications licence that they expect to cost as much as R15-billion.