Vodacom Group reported a strong 9% advance in revenue in the first quarter of its 2022 financial year, reaching R24.8-billion. If it hadn’t been for rand strength, the figure would have been 14.2%.
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South Africa’s mobile operators, including Vodacom, MTN and Rain, are set to face a big challenge to their business models from an unexpected quarter: fixed-line broadband. By Duncan McLeod.
CIVH, the Remgro-controlled company that owns Dark Fibre Africa and Vumatel, is now worth more than Telkom, the company that once enjoyed an absolute monopoly over telecommunications in South Africa.
A wholesale open-access network in Mexico, designed to break the dominance of the incumbent telecommunications operator and once lauded by South Africa’s government, has gone bust.
Telkom has joined MTN and Vodacom in shutting stores in violence-torn KwaZulu-Natal, and has now decided to close its outlets countrywide until further notice as a precautionary measure.
Some of South Africa’s largest companies were forced to halt operations as violence erupted in parts of the country, with rioters torching trucks and looting stores.
The Global Partnership for Ethiopia, the Safaricom-led consortium that won a licence to build a network in the East African nation, has appointed Anwar Soussa to lead the venture.
Vodacom has taken the wraps off its much-anticipated VodaPay “super app” in South Africa, designed in collaboration with Alibaba Group-owned fintech services platform Alipay.
Vodacom Group has awarded its CEO, Shameel Joosub, more than R44-million worth of share options, which will vest in three years provided they are not forfeited and performance conditions are met.
Shameel Joosub earned R55-million before tax in the 2021 financial year, a 26% increase on the previous year’s R43.4-million, according to a regulatory filing.