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Uber Technologies said it will deliver a first-ever quarterly profit by the end of the year, signalling that cost-cutting measures are exceeding even the companyโ€™s own recent expectations.

Vodafone Group will hand over management of its Ghana unit to the UK carrierโ€™s separately listed South African division in April, the latest step to bring the companyโ€™s operations on the continent under one roof.

Since their peak in 2016, shares in EOH – which describes itself as Africa’s largest technology service provider – have plunged by an eye-watering 97%. They have lost more than 50% in the value since 1 January alone.