Tag Archives: Vodacom
Vodacom: Latest News
Peter Pedroncelli, 5:45 am
This week Vodacom Tanzania completed the largest initial public offering ever seen on the Dar es Salaam Stock Exchange (DSE) in its 19 years of existence. Vodacom raised $219 million for the listing, becoming the first to comply with new regulatory changes requiring telecoms companies in the country to list at least 25 percent on the Dar es Salaam Stock Exchange
Peter Pedroncelli, 6:02 am
Vodacom’s $2.6 billion share acquisition of Safaricom has now been finalized, with the South African company now owning a 35 percent stake in the Kenyan telecommunications and mobile operator. Vodacom has announced that all regulatory approvals and conditions related to both Kenya and South Africa have now been met, concluding the deal.
Peter Pedroncelli, 5:14 am
SA telecommunications giant Vodacom’s minority shareholders voted in favor of plans to acquire a majority share in Kenya’s largest company, Safaricom. The shareholders voted at the telecoms company’s annual general meeting, with 99.59 percent voting in support of the resolution, while only 0.40 percent were against the acquisition. In May Vodacom proposed the purchase of a 34.94 percent indirect stake set to be bought from the Kenyan government.
Tom Jackson, 6:25 pm AFKI Original
Safaricom is future-proofing its business with innovative new products and an investment in a telecommunications lab, which will streamline innovation and testing at the Kenyan telecoms giant. It has been 10 years since Safaricom launched the M-Pesa mobile money service that is widely attributed to being the catalyst for Africa’s fintech ecosystem and having played a huge part in establishing the company as a market leader.
Peter Pedroncelli, 4:39 am
South African telecommunications giant Vodacom is in the process of acquiring a majority stake in Kenya’s largest company and major East African telecoms firm, Safaricom. The announcement was made on Monday, with a proposed 34.94 percent indirect stake set to be bought from the Kenyan government. The stake is worth 284 billion Kenyan shillings or around $2.76 billion, based on Safaricom’s current share price on the Nairobi Securities Exchange.
Dana Sanchez, 5:39 pm
MTN’s announcement shows how difficult it is to crack mobile payments in South Africa’s financial services market. With one door closing, MTN is entering the micro insurance business with MMI Holdings in a joint venture called aYo. The mobile financial services industry is changing, and aYo will be able to compete thanks to the combined expertise, scale and market access of both companies. Insurance penetration is low in many African countries and MTN will be able to offer relevant, accessible and easy insurance solutions to consumers, the company said.
Dana Sanchez, 3:42 pm
South Africans pay around $14.10 for one gigabyte of data, the fourth highest out of 17 African countries. By comparison, the same bundle costs around $2.10 in Cameroon. There are five main mobile service providers in South Africa’s wireless broadband market, including partially state-owned operator Telkom. Together MTN and Vodacom control more than 70 percent of the market — part of the reason why South Africans pay some of the highest data costs in Africa.
Kevin Mwanza, 9:07 am
Vodacom has overtaken MTN Group as the largest telecoms operator by market capitalization as the former struggles with regulators in Nigeria over a record multi-billion fine leveled on it at the end of last year. Vodacom’s market capitalization rose to 249 billion rand at the Johannesburg Stock Exchange (JSE) on Wednesday surpassing MTN, which stood at 244 billion rand ($16.2 billion). This is the first time Vodacom’s capitalization has risen above MTN’s
Dana Sanchez, 5:03 pm
South Africa already had a thriving money transfer market when Vodacom introduced M-Pesa there. About 75 percent of South Africans have financial inclusion in traditional banks. Vodacom is shutting down M-Pesa in South Africa, but is still operating in Kenya, Tanzania, Lesotho, Mozambique and DRC. “Since the day of the launch in 2010 in South Africa, I’ve questioned the viability of it in this country because of the fact that the success factors for M-Pesa in Kenya were not present in South Africa,” an expert said.
Kevin Mwanza, 7:32 am
South Africa’s Constitutional Court ordered telecoms operator Vodacom to enter into compensation negotiation with its former employee who claims he invested the ‘please-call-me’ service that allows users who don’t have airtime to send a call-back text to anyone on the network. Judge Chris Jafta asked the telecommunication giant on Tuesday to consider compensating Nkosana Makate for the innovation and said that is these negotiations failed the matter should be sent to Vodacom’s CEO
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