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Vodacom profit hit by Ethiopia start-up loss, upgrades service revenue target

Vodacom profit hit by Ethiopia start-up loss, upgrades service revenue target

VODACOM Group (VODJ.J) reported a 10.8% decline in full-year earnings, impacted by start-up losses in Ethiopia and rising costs, but upgraded its group service revenue target thanks to its Egyptian unit and performance of new services. The South African company, majority-owned by Britain's Vodafone (VOD.L), co-launched Safaricom Ethiopia in 2022 as part of a consortium, betting that the populous nation will power growth after about five years of investment. Vodacom has a direct 5.7% stake. The biggest telecoms operator in South Africa said headline earnings per share fell to 846 cents in the year ended March 31, from 948 cents a year…
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What next for Safaricom after M-PESA buyout?

What next for Safaricom after M-PESA buyout?

SAFARICOM PLC, Kenya’s largest telco, has fully acquired M-PESA Holdings Co. Limited, consolidating control of its mobile money service and cash cow, M-PESA. Its buyback of M-PESA from Vodafone's subsidiary Vodacom highlights its growth as a mature, independent African entity in the global telecommunications arena. In April 2020, Safaricom and South Africa's Vodacom completed the acquisition of the ubiquitous mobile money platform from Britain's Vodafone. Experts argue the new buyout, which was finalised on October 15, 2023, could mark a turning point in the company's push for profitability beyond its East African home turf. Safaricom will now have sway over…
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Telecoms towers burnt in S.A by 5G protesters

Telecoms towers burnt in S.A by 5G protesters

ABOUT three telecommunications towers belonging to Vodacom and MTN were burnt this week following a resurgence in conspiracy theories which link the emergence of COVID-19 to 5G technology, South Africa's communication minister has said. The towers were burnt and destroyed between Tuesday and Wednesday this week in KwaZulu-Natal province, the Minister of Communications and Digital Technologies Stella Ndabeni-Abrahams said in a statement and also urged police to arrest those responsible "for this anarchy". "It is regrettable that the much-needed network infrastructure is being destroyed ... mobile telephony is crucial in the fight against the coronavirus pandemic," she said. There was…
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