South African mobile operator Vodacom is looking to expand across Africa by making small acquisitions in the range of US$100m.
Vodacom CEO Pieter Uys told Dow Jones that the company reported, for the first time, a positive cash flow from its…
South African mobile operator Vodacom is looking to expand across Africa by making small acquisitions in the range of US$100m.
Vodacom CEO Pieter Uys told Dow Jones that the company reported, for the first time, a positive cash flow from its operations outside South Africa in its recent annual financial results.
As a result, the mobile operator could consider expanding into Angola, Ethiopia and Uganda, given the opportunities there, he said. Vodacom already operates in Tanzania, Mozambique, Lesotho and the Democratic Republic of Congo.
Plans for expansion come as Vodacom is currently entangled in a legal battle over the sale of its Congolese unit.
On 14 May, Vodacom, which has a 51% stake in Vodacom DRC, was ordered to pay US$21m in consultant fees to Namemco Energy or face the sale of its shares in the Congolese unit by 3 June.
The South African operator has said it would fight to keep its operations there.
Vodacom is majority-owned by British telco Vodafone Group.
