This archive report was first published on 22 May 2020.
On May 21, 2020, Vodacom Group announced a significant restructuring move, creating a standalone South African business to oversee its operations across the continent.
The move aims to manage Vodacom's expanded African portfolio and growth plans, including financial and digital services. According to the company, this new structure is necessary to play a central role in overseeing all operations across its African footprint.
As part of this restructuring, Vodacom has assumed management responsibility for Vodafone Ghana, effective April 1, and has concluded a joint venture with Kenya's Safaricom. The two companies have also expressed interest in bidding for an Ethiopian telecommunications licence as part of a consortium.
The standalone South African business will be managed by Vodafone director Balesh Sharma, who will report directly to group Chief Executive Shameel Joosub and join the reconstituted Vodacom Group executive committee with effect from July 1.
Following the news, Vodacom's shares rose 0.24 per cent, outperforming the wider index, which fell nearly 2 per cent.
