Multinational clients to benefit from Vodacom Business Africa's strategic repositioning

21 June 2019

Mergers, Acquisitions and Financial Results

Vodacom Group ('the Group') today announced a strategic repositioning of its Vodacom Business Africa operations that will result in three separate share purchase agreements involving its enterprise businesses in Nigeria, Zambia, Angola, Ghana and Cote d'Ivoire. Subject to various regulatory and statutory body approvals, Vodacom will enter into service provider agreements with Synergy Communications in Nigeria, Zambia and Cote d'Ivoire; Internet Technologies Angola (ITA) in Angola and Vodafone Ghana in Ghana.

In each of the five Vodacom Business Africa markets, the respective partners will acquire all of the operations and assets held by Vodacom. The various entities are in the process of concluding the required agreements, the financial terms of which are confidential.

The transactions support Vodacom Group's enterprise strategy in Africa, which has been refocused to grow and strengthen its core business. It will no longer directly service global enterprise customers in these five markets but will instead continue to operate as a pan African telecommunications network provider through local service provider agreements.

Source: Press Release