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Vodacom Group reported a strong 9% advance in revenue in the first quarter of its 2022 financial year, reaching R24.8-billion. If it hadn’t been for rand strength, the figure would have been 14.2%. Normalised group service revenue growth was 7.8% as international (non-South African) growth accelerated, while South African service revenue was up 5.2% to R14.1-billion,...

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The telecoms business in Ethiopia, a country with a population of more than 100 million people and one of the region’s biggest economies, is considered lucrative and is expected to draw significant investor interest. ADDIS ABABA: France’s telecom firmOrange has submitted an expression of interest to participate in the ongoing partial privatisation of Ethiopia’s Ethio Telecom firm, Ethiopia’s ambassador...

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South African capital investment and revenue spikes from increased lockdown-related data usage add to Vodacom’s earnings. South African cellular giant Vodacom recorded an 8.3% rise in group revenue in the financial year to March 2021, driven by an 8.2 million rise in its continental subscriber base, as increased data usage for work and entertainment enforced...

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Pan-Africa financial services group Letshego believes technology advances will positively influence further adoption of innovative microfinance services. The company says the microfinance market is anticipated to steadily grow over the next few years, as a rapid rise in the number of micro, small and medium enterprises is anticipated. “This creates a clear opportunity for mobile...

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Telecom Egypt and Vodafone Group have announced the signing of a modified shareholders’ agreement related to Egyptian operator Vodafone Egypt. According to the companies, the new agreement includes changes to Vodafone Egypt’s dividend policy, whereby that company will pay a one-time dividend of EGP10 billion (USD636 million) to its shareholders during the 2021 calendar year,...

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Africell has confirmed the successful closing of a USD 105 million commercial loan facility. The move supports Africell’s long-term expansion strategy in Africa and gives the group the financial strength required to maintain its growth across the continent. The loan facility is syndicated to a group of blue-chip international financial institutions. The syndicate consists of...

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The Covid-19 has revealed to African countries how essential ICTs have become. Tanzania, whose level of digital readiness was among the last on the continent in 2020, is determined to negotiate more seriously its entry into the fourth industrial revolution. The World Bank announced Thursday, May 27, the granting of funding worth USD 150 million to...