South African telecommunication company, Vodacom Group is set to exit the countries of Nigeria, Zambia, Angola, Ghana and Cote d’Ivoire. Subject to regulatory approval, its Angolan market will be bought over by the Internet Technologies Angola (ITA), Nigeria, Zambia and Cote d’Ivoire by Synergy Communications, and Vodafone Ghana in Ghana. The sum is undisclosed and business transaction is subject to regulatory approval.
Vodacom will sell its Vodacom Business Africa (VBA) operations to these companies to focus on other markets across Africa. When all agreements are finalized, the respective partners will acquire all of the operations and assets accrued to Vodacom and it will no longer directly serve global customers in these markets.
Vodacom is a telecom company that offers B2B services to enterprises in 50 countries. It is majorly owned by Vodafone UK – owning 60.5% in the company. It offered fiber, cloud services, healthcare, satellite connectivity, and VPN services to subscribers. The telecommunication company is used by subscribers in over 42 countries around the world.
The exit from these markets will allow Vodacom to focus on its “Internet of Things business” and subsidiary -Mezzanine, its enterprise solutions provider company. Vodacom believes that this move will encourage greater local collaboration in the digital economy.
More on TechGist Africa:
- Paynas Wins Seamless North Africa 2019 Pitch Competition, Bags $50000 Grand Prize
- The Kenya Information & Communication Bill 2019 Splits Telecoms into Business Units
- Naspers Foundry Invests $2m in Online Cleaning Platform
- Africa’s Dwindling Healthcare Situation; The TREP LABS Solution
- Truecaller Introduces Free Voice Calling Feature for Android
Get real time update about this post categories directly on your device, subscribe now.