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.
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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.
Safaricom, a unit of Vodacom Group, posted a 14% increase in net income for the six months to September 2019 as revenue growth from mobile money was hurt by a state crackdown on sports betting.
Kenya’s biggest company by market value, Safaricom, appointed Peter Ndegwa as CEO from 1 April 2020, amid plans for regional expansion and rising competition at home.
Mobile money is the fastest growing source of income for network operators such as MTN and Safaricom, outpacing data.
African telecommunications authorities must walk a fine line when it comes to regulating the move of mobile operators into financial services.