Vodacom’s plans to separate its South African tower portfolio are at an advanced stage and the launch of a company to manage these assets is imminent.
In this regard, Joosub says, the group is carving-out of the tower portfolio and is in the process of establishing a separate legal entity that will be 100% owned by Vodacom Group. Standalone tower companies benefit telcos fundamentally from a financial perspective, as they have larger economies of scale by hosting multiple tenants. This reduces overall costs for telcos like Vodacom.
“Service revenue in South Africa grew 3% on the back of sustained investment in technology and our network, which continues to enhance the customer experience. This experience was evidenced through the 5.1% growth in our customer contract base to 6.5 million and recognition by Tutela, an independent data research company, as the country’s leader in network quality,” says Joosub.
Commenting on the group’s overall performance during the quarter, Joosub says: “Vodacom Group produced a resilient first quarter performance despite the turmoil in financial markets and uncertainty about the recovery of the global economy, as a result of COVID-19 and the Russia-Ukraine conflict.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Super Group flags higher earnings despite unrestLogistics and supply chain management company says it has overcome flooding, unrest and load-shedding I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Mike_Rosehart , and I gave Bitcoin trading another try, I successfully withdrew R240,000 after two weeks of trading, am so grateful Mike_Rosehart thank you.
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »