On The Money - In Brief

Mergers, Acquisitions and Financial Results

- South African cellular group Vodacom has reported a 22.9% increase in full-year operating profit to ZAR10.9 billion (USD1.5 billion), with revenues up 20.9% to ZAR41.1 billion. The group’s customer base rose 28.2% to 30.2 million in the year to the end of March. Vodacom, which is jointly owned by Telkom South Africa and Vodafone, is the largest cellco in its domestic market and also has mobile operations in Tanzania, the Democratic Republic of the Congo, Lesotho and Mozambique

- Kenya’s Finance Minister Amos Kimunya has dismissed claims that the Cabinet approved the sale of Telkom shares, saying the issue was not part of the Cabinet discussion agenda.

- The National Empowerment Fund plans to sell its 1.5% stake in mobile operator MTN Group to a range of previously disadvantaged groups at a discount, according to trade and industry deputy director-general Lionel October. At the current MTN share price, the offering of 1.5%, or 30 million shares, would have a value of about ZAR3billion (USD420 million).