Vodacom Group eyeing new assets in sub-Saharan Africa

26 Sep 2014

Romeo Kumalo, head of international business at Vodacom Group, has revealed that the company is looking into acquiring new assets in Africa, BusinessTech reports. The executive said: ‘There are lots of interesting new markets we are looking at, but the valuations are not right.’

The group is currently operational in South Africa, Tanzania, the Democratic Republic of Congo (DRC), Mozambique and Lesotho; Vodacom has an agreement with UK-based parent company Vodafone to remain within the sub-Saharan Africa region. Kumalo noted that there were still opportunities for consolidation in its current operating markets, although Nigeria was singled out as ‘a market where we would like to be’. Around 22% of the operator’s service revenue currently comes from international operations; the group hopes to ramp the figure up to 30% over the next three-to-four years.

Nigeria, South Africa, Vodacom Group, Vodacom South Africa