Vodacom Group has “simplified its structure” following the recent expansion of its African portfolio, the company announced.
“For Vodacom Group to play a central role of overseeing all operations across its African footprint, this has necessitated the creation of a standalone South African operating company that will be led by Balesh Sharma in the newly created role of Managing Director of Vodacom South Africa,” said the company.
Vodacom Group CEO Shameel Joosub said the changes needed to be put in place due to “the stellar financial performance of our international portfolio combined with the added responsibility of managing Vodafone Ghana and accelerating the growth of financial and digital services”.
“This includes the decoupling of Vodacom South Africa as a standalone business. Under Balesh’s leadership, I am confident that the increased focus will leverage the numerous opportunities that exist in South Africa from both our traditional telco business and our technology-focused growth acceleration units,” he said.
“The new structure will also place heightened emphasis on our international portfolio and new growth areas to ensure that we continue to diversify our revenue streams.”
Vodacom Group assumed management responsibility for Vodafone Ghana on 1 April 2020, and has also concluded a joint venture with Safaricom to accelerate the expansion of M-PESA.
“Vodacom and Safaricom have also expressed interest in bidding for an Ethiopian telecommunications license as part of a consortium,” said the company.
Sharma will report directly to Joosub and will join the reconstituted Vodacom Group executive committee with effect from 1 July 2020.
“Balesh is currently the Director of Special Projects for the Vodafone Group, where he has recently supported the rollout of a new telecom operation in Oman,” said Vodacom.
“Previously, he was CEO of Vodafone Idea and the Chief Operating Officer of Vodafone India. He successfully oversaw the integration of Vodafone Idea and drove the strategy and execution of the combined business, delivering substantial synergies in the very first year post merger.”
“Balesh is an alumni of the Harvard Business School and Mayo College, and holds a Degree in Mechanical Engineering from Engineering College, Kota and an MBA from Podar Institute of Management in Jaipur, India.”
From 1 July 2020, Beverly Ngwenya and Sitho Mdlalose will also join the new Vodacom South Africa exco as Technology Director and Financial Director, respectively.