Vodacom to sell Angolan operations and assets

Vodacom Group says it has entered into an agreement with Angolan enterprise telecommunications provider Internet Technologies Angola (ITA), to sell Vodacom Business Africa’s Angolan operations and assets.

The two entities are in the process of concluding the required agreements, which are subject to the approvals of the regulatory authorities within these markets.

The financial terms of the transaction remain confidential.

The transaction supports 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 markets but will rather continue to operate as a pan African telecommunications networks provider through local service provider agreements.

This transaction forms part of the strategic repositioning announced earlier today by Vodacom of its Vodacom Business Africa operations that will ultimately result in three separate service provider agreements involving its enterprise businesses in Nigeria, Zambia, Angola, Ghana and Cote d’Ivoire.

“Vodacom has a clear vision for strengthening our position as a leading pan-African business and will work with local service providers to grow in these markets. Crucially, Vodacom is not exiting any of the territories related to this transaction and remains focused on continuing to deliver exceptional service to our global and multinational clients in these markets through long-term commercial agreements,” said Shameel Joosub, CEO of Vodacom Group.

“To support the sustainable growth of pan African digital economies and building connected societies, Vodacom will, via local service providers, continue to service clients in each market. We seek to leverage our collective strengths to meet the changing requirements of clients across each of these markets.”

Vodacom said it went through a robust and lengthy bid process with several interested applicants to find the right partner to reposition its business on the continent.


Read: Vodacom CEO scores R38 million payday after challenging year

Latest news

Partner Content

Show comments

Follow us

Recommended

Vodacom to sell Angolan operations and assets