On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Cellular network operator Vodacom increased its total customer base by 25.1% to 9.6 million in the six months to 30 September. Group revenue of R11.29 billion was 19.6% higher than the R9.44 million achieved in the same period a year before. South African revenue rose 19.3% to R10.61 billion, while the other African operations contributed R691 million or 6.1% (2002: R549 million or 5.7%). The group says Vodacom Congo in particular showed strong revenue growth, although off a low base, growing revenue by 115.8% to R205 million.

- According to the Namibian Economist, Barclays Capital is one of several financial institutions having their eyes fixed on the tender process for the second cellular licence. While the financial institution has not yet defined its role clearly, South African financial consultants said Barclays is one of several banks bidding secretly for the role as an arranger.