Vodacom, South Africa’s largest mobile operator, is looking to enter three new African nations within the next two years.
Its CEO Shameel Joosub told Bloomberg that the company is seeking to acquire local operators in countries with a population of…
Vodacom, South Africa’s largest mobile operator, is looking to enter three new African nations within the next two years.
Its CEO Shameel Joosub told Bloomberg that the company is seeking to acquire local operators in countries with a population of more than 10 million, a high gross domestic product growth, low mobile penetration and a stable political situation.
But he declined to identify potential targets and did not comment on whether Vodacom would bid for Madagascar’s Telma, which is reportedly seeking buyers.
Joosub, however, reportedly added that Ethiopia is an interesting market, with a high population and a very low mobile penetration rate.
Vodacom, which is controlled by Vodafone, is already present in the Democratic Republic of Congo, Lesotho, Mozambique and Tanzania.
For the year to 31 March 2013, Vodacom reported a 4.5% increase in revenues to R69.9bn (US$7.3bn) compared with the previous period, while its EBITDA grew by 10.9% to R25.2bn (US$2.6bn).
Joosub took over as CEO at the beginning of September last year from Pieter Uys.
