Tag: Vodacom

Vodacom reports US$1.9b revenue in Q1 of 2021

Frank

SOUTH AFRICA – Vodacom Group recorded first-quarter revenue of R24.8 billion (US$1.9 billion), up 9%, as strong normalised growth of 14.2% was partially offset by the South African rand’s recovery. South Africa’s biggest mobile operator this morning issued a trading update for the quarter ended 30 June. According to the telco, the rand appreciated by 20% against a basket of its international currencies, impacting reported growth. Normalised group service revenue growth was 7.8% as international growth accelerated. The telco says South Africa’s service revenue was up 5.2% to R14.1 billion…

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Global Partnership for Ethiopia taps Vodacom DRC chief Anwar Soussa as Managing Director

Frank

ETHIOPIA – The Global Partnership for Ethiopia (GPE) has appointed Anwar Soussa as the Managing Director of the Operating Company in Ethiopia, effective July 1, 2021. He will report to the Board of the Ethiopia entity and Safaricom PLC Chief Executive Officer. Anwar is currently the Managing Director of Vodacom Democratic Republic of Congo (DRC) and the Chairperson of Vodacash (M-PESA), a position he has held since 2017. He has cemented Vodacom DRC as the largest Vodacom operation outside of South Africa by driving major strides in operational performance, crossing…

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Vodacom unveils VodaPay ‘super app’ as it aims to transform the fintech ecosystem

Frank

SOUTH AFRICA – Mobile telecommunications company Vodacom, has unveiled its much-anticipated VodaPay “super app” in South Africa, designed in collaboration with Alibaba Group-owned fintech services platform Alipay. “VodaPay is an all-encompassing mobile payments solution that has been customised to meet the specific lifestyle and payment needs of consumers, businesses and tech developers,” Vodacom said in a statement while announcing the launch of the app. Vodacom Financial Services now is inviting developers and businesses to join the VodaPay ecosystem by building their own “mini programs”. “These third-party, downloadable sub-applications run within the…

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Vodafone Cash partners payments company WorldRemit for seamless money transfers

Frank
Vodafone extends zero charge on mobile money transfers

GHANA – Vodafone Ghana’s mobile financial services, Vodafone Cash has partnered with global cross-border payments company WorldRemit to enable its customers to receive international money transfers straight to their mobile money accounts without any charges. The service allows Vodafone Cash customers to seamlessly receive international money transfers from their family and friends in the UK, Canada, Australia, the USA, and others. This partnership between two global brands eliminates the stress, risks, long queues and other challenges associated with visiting agents to access remittances from overseas. “Our partnership with WorldRemit is…

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Vodacom unveils lofty fiber, fintech, IOT investment plans as it entrenches itself as a tech company

Frank

SOUTH AFRICA – Mobile communication company Vodacom is fortifying its business model, scaling up fibre, financial services, Internet of things (IOT) and network expansion plans in a bid to become the dominant telco in all its markets. The telco says it remains focused on entrenching Vodacom as a top Pan-African technology company through investments in these sectors to augment its relationships with the 100 million plus customers it serves across Africa. The intensified desire to pursue opportunities in fibre, financial services and IOT comes at a time the telco is transitioning into…

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Safaricom gets 56% stake in Global Partnership for Ethiopia consortium

Frank

ETHIOPIA – Mobile network operator Safaricom,  has raised its controlling stake in Global Partnership for Ethiopia, the consortium that has made a bid for one of two telecoms licences in Kenya’s northern neighbour, to 56 percent from the 51 percent. The details of the consortium’s latest ownership structure were disclosed by South Africa-based Vodacom Group which owns a 34.9 percent stake in the Nairobi Securities Exchange-listed telco. “The consortium is 56 percent owned by Safaricom, 6 percent by Vodacom, 25 percent by Sumitomo the Japanese conglomerate and 10 percent by CDC, the…

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PE firm TPG buys stake in Airtel’s mobile money unit for US$191m

Frank

AFRICA – Airtel Africa is set to sell an undisclosed minority stake in its Pan-African mobile money business to private equity firm TPG for US$191 million, underlining the huge value of mobile financial service platforms in Africa. The multinational telco announced the transaction through the London Stock Exchange where it is listed. The record-breaking deal values Airtel Money, available in Share sale to private equity comes amid struggle to cut M-Pesa dominance in the Kenyan market and 14 African countries including Kenya, Malawi, and Uganda, at US$2.65 billion. TPG is investing…

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Ethiopian Communicatons Authority shortlists six firms for telco licence

Frank

ETHIOPIA – The Ethiopian Communications Authority has shortlisted a consortia of 12 companies that had expressed interest in entering the country’s telecommunications market, one of them being Kenya’s telecom giant Safaricom. The firms will be required to submit their technical and financial bids by April 5, compared with a previous deadline of March 5. The Ethiopian Communications Authority announced that it had received expressions of interest from scores of firms, including telcos and non-telecom operators by June 22 which included the Safaricom consortium, Etisalat, Axian, MTN, Orange, Saudi Telecom Company,…

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Vodacom boosts capital expenditure by 12% as spectrum auction nears

Frank

SOUTH AFRICA – Mobile communications company Vodacom has boosted investment in its network by 12.3% year on year in the quarter ended 31 December 2020, bringing capital expenditure to US$180.4 million from US$160.4 million in the same quarter a year ago. The network investment came on the back of an 8.5% uplift in revenue to US$1.3 billion, with service revenue climbing by 5.4% to US$955.5 million, parent Vodacom Group disclosed in an announcement to shareholders. The increased capital investment was designed to improve capacity to “improve the customer experience”, Vodacom…

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Cell C migrates its contract customers to Vodacom network as it seeks to cut costs

Frank

SOUTH AFRICA – Mobile phone operator Cell C has begun the planned migration of its customers off its radio access network as it moves to shut down this infrastructure to save costs with the clients being migrated to its new partner, MTN, the company has said The company said that the initial batch of customers is moving to the Vodacom network. The migration has begun with contract and broadband customers and is due to be completed in the next two months, Cell C said. The news would seem to suggest a…

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