“We need to think, and fast, about how we can help our African partner in the race against time as it faces the predicted economic disaster in the wake of the global covid-19 pandemic,” writes Franc Bogovic and Engin Eroglu.
South African mobile operator Vodacom Group reported a 8.9% rise in annual earnings on Monday, buoyed by an improved second half performance in its domestic market and the sustained growth of its international businesses.
Kenya’s top telecoms operator Safaricom has seen a 70% surge in data usage as people stay at home to curb the spread of the new coronavirus, it said on Tuesday.
Vodacom, which is majority owned by Vodafone Group Plc, announced an agreement to sell the unit’s operations in four African markets.
Vodacom's headline earnings per share (EPS) for the full-year ended March fell to 862 cents from 923 cents a year earlier.
Vodacom share price drops more than 6 percent.
South Africa's Vodacom said on Monday it will buy a 35 percent stake in Safaricom from its parent company Vodafone for 34.6 billion rand ($2.59 billion), expanding its reach into Kenya.