Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      10 red flags for Apple investors

      13 June 2025

      Chief sub-editor wanted – help shape South African tech media

      13 June 2025

      MultiChoice may unbundle SuperSport from DStv

      12 June 2025

      MVNO boom is reshaping South Africa’s mobile market

      12 June 2025

      South African law is failing gig-economy workers

      12 June 2025
    • World

      Qualcomm shows off new chip for AI smart glasses

      11 June 2025

      Trump tariffs to dim 2025 smartphone shipments

      4 June 2025

      Shrimp Jesus and the AI ad invasion

      4 June 2025

      Apple slams EU rules as ‘flawed and costly’ in major legal pushback

      2 June 2025

      Mark Zuckerberg has finally found a use for his metaverse

      30 May 2025
    • In-depth

      Grok promised bias-free chat. Then came the edits

      2 June 2025

      Digital fortress: We go inside JB5, Teraco’s giant new AI-ready data centre

      30 May 2025

      Sam Altman and Jony Ive’s big bet to out-Apple Apple

      22 May 2025

      South Africa unveils big state digital reform programme

      12 May 2025

      Is this the end of Google Search as we know it?

      12 May 2025
    • TCS

      TechCentral Nexus S0E1: Starlink, BEE and a new leader at Vodacom

      8 June 2025

      TCS+ | The future of mobile money, with MTN’s Kagiso Mothibi

      6 June 2025

      TCS+ | AI is more than hype: Workday execs unpack real human impact

      4 June 2025

      TCS | Sentiv, and the story behind the buyout of Altron Nexus

      3 June 2025

      TCS | Signal restored: Unpacking the Blue Label and Cell C turnaround

      28 May 2025
    • Opinion

      Beyond the box: why IT distribution depends on real partnerships

      2 June 2025

      South Africa’s next crisis? Being offline in an AI-driven world

      2 June 2025

      Digital giants boost South African news media – and get blamed for it

      29 May 2025

      Solar panic? The truth about SSEG, fines and municipal rules

      14 April 2025

      Data protection must be crypto industry’s top priority

      9 April 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Vodacom reinstates targets as it eyes spectrum auction

    Vodacom reinstates targets as it eyes spectrum auction

    By Loni Prinsloo16 November 2020
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    Vodacom Group reinstated growth targets based on an expected economic recovery from the Covid-19 crisis in 2022, and said it has the financial strength to take part in a long-awaited auction of broadband spectrum in South Africa.

    The country’s largest mobile phone company now sees mid-single-digit growth in both service revenue and operating profit over the next three years, according to a statement on Monday. The move follows a decision by the company to scrap forecasts in the early phase of the pandemic, in response to the uncertain environment.

    South Africa’s telecommunications industry has held up better than some during the pandemic, with soaring household data bills helping to offset the impact of slower economic activity. In Vodacom’s home market, data usage surged 86% in the six months to September, and the company boosted investment in network infrastructure over the period to R6.6-billion.

    We have a strong balance sheet, and we have adequate headroom to take on more debt at favourable rates to take part in a spectrum auction

    The shares traded 1.4% higher as of 9.07am in Johannesburg, extending a climb for the year to 12%.

    Next up for the company, which is majority owned by the UK’s Vodafone Group, is to prepare for South Africa’s sale of more than R8-billion of spectrum, pledged in early October as part of a range of government measures to revive the economy. Vodacom and MTN Group, its chief rival, have long called for the move, but political disputes over how it should proceed have thwarted the process.

    “We have a strong balance sheet, and we have adequate headroom to take on more debt at favourable rates to take part in a spectrum auction,” Vodacom CEO Shameel Joosub said on a call with reporters.

    Trouble in Ethiopia

    Vodacom, which has international operations in Tanzania, Mozambique and the Democratic Republic of Congo, is among carriers planning to bid for new telecoms licences in Ethiopia, though an ongoing military conflict in the Horn of Africa nation is giving the carrier cause for concern.

    “We are monitoring the situation and we will make a call closer to the time,” the CEO said. Vodacom is planning to take part alongside Vodafone and Kenya’s Safaricom, in which it owns a minority stake.

    Vodacom Group CEO Shameel Joosub

    Fighting erupted between Ethiopia’s central government and the northern Tigray region in early November, leading to the deaths of hundreds of people to date. The battle won’t distract the government from implementing reforms, including the telecoms privatisation, finance minister Eyob Tekalign said last week.

    Vodacom reported first-half gains in revenue, earnings and customer numbers, and will pay an interim dividend of R4.15, up 9% year-on-year.  — (c) 2020 Bloomberg LP



    MTN Safaricom Shameel Joosub top Vodacom Vodacom South Africa
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleGoogle is building a new campus – in Microsoft’s backyard
    Next Article Europe is planning its own e-currency: What we know so far

    Related Posts

    MVNO boom is reshaping South Africa’s mobile market

    12 June 2025

    Capex clash: Vodacom, MTN and Telkom battle over network supremacy

    11 June 2025

    South Africa’s latest MVNO is aimed at students

    11 June 2025
    Company News

    SAPHILA 2025 – transcending with purpose, connection and AI-powered vision

    13 June 2025

    Building a cyber-resilient culture from the boardroom to the front lines

    12 June 2025

    How South Africa’s municipalities are finally getting smart

    12 June 2025
    Opinion

    Beyond the box: why IT distribution depends on real partnerships

    2 June 2025

    South Africa’s next crisis? Being offline in an AI-driven world

    2 June 2025

    Digital giants boost South African news media – and get blamed for it

    29 May 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.