Vodacom cut its full-year dividend to R7.95/share for the year ended 31 March 2019, a 2.5% decline from the R8.15/share it returned to shareholders in 2018.
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Vodacom Group has updated its profit outlook on the back of the acquisition of East Africa’s largest mobile phone company that’s helping it push into financial services.
Vodacom will acquire a 51% stake in South African Internet of things specialist IoT.nxt, the telecommunications group said on Monday.
Despite continued rapid growth in demand for data by customers, Vodacom South Africa eked out a meagre 3.9% increase in data revenue in the 2019 financial year as price cuts and lower out-of-bundle tariffs impacted the top line.
South African business leaders are in harmony on what the country needs after this week’s elections.
Safaricom shares fell the most in four months after East Africa’s biggest company by market value said profit growth will slow even as the wireless carrier expands its popular mobile banking service.
Communications minister Stella Ndabeni-Abrahams has dashed hopes for the urgent licensing of new broadband spectrum to mobile operators.
Vodacom said on Monday that “unquestionably the most significant obstacle to reducing input costs and, by extension, data prices is the fact that no new spectrum has been allocated” to operators for the past 14 years.
South Africans are not satisfied with their mobile network providers, particularly the biggest provider, Vodacom.
The ham-fisted way in which Vodacom implemented Icasa’s data regulations damaged the operator’s reputation and drove consumers to threatening to quit the network, according to new research.