On The Money News - In Brief

Mergers, Acquisitions and Financial Results

- South Africa-based regional mobile operator Vodacom Group said revenue in its third quarter ended 31 December 2011 increased 12% year-on-year to ZAR17.99 billion (USD2.38 billion) from ZAR16.03 billion in the same period of 2010, as it added a net five million users across its operation. Vodacom, the South African operating arm of Britain’s Vodafone Group, said its results were bolstered by a 27% rise in customer numbers and a 24% spike in sales derived from data-based mobile services.

- A Cape Town taxi association has become the first to introduce a smart card electronic payment system rather than cash. Peninsula Taxi Association (PTA) which has a fleet of 250 vehicles with 100 members, operates three of the top ten most lucrative routes in the Western Cape, including the Cape Town to V&A Waterfront.

- Tanzania Revenue Authority (TRA) is in the process of introducing an Electronic Cargo Tracking System (ECTS) aimed at monitoring the movement of goods under customs control. The tracking system which is expected to commence with effect from the middle of next month will help to track vehicles with goods from one point to another within Tanzania hence reduce illegal diversion of cargo in the country.