Sustained load shedding has been devastating for the South African economy and the telecoms industry, Vodacom Group CEO Shameel Joosub said.
Browsing: Shameel Joosub
Electricity minister Kgosientsho Ramokgopa has met with senior executives in South Africa’s telecommunications industry.
Load shedding is proving to be a hugely expensive problem for South Africa’s mobile operators.
The top industry executive has warned that extreme load shedding is having a severe impact the telecommunications sector and on consumers.
Vodacom Group has completed its acquisition of a controlling 55% stake in Vodafone Egypt from parent Vodafone Group.
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.
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.
Major operators have created a new, non-profit association to look after their interests and work with government and regulators.
Vodacom Group will retain full ownership of a new subsidiary that will take over its South African tower business, it said on Thursday.