Safaricom Ethiopia announced it has received the initial 13 towers from Woda plc., the first local company to manufacture network towers in the country, to enhance and expand its network infrastructure.
Orange Egypt, the leading provider of integrated telecommunications services, and Huawei, the leading global provider of ICT infrastructure and smart devices, announced a strategic partnership to launch Huawei Cloud services for the first time in the Egyptian market.
Safaricom has announced a KShs 139.9 billion in its earnings before interest and tax in the period ending March 31st, 2024. At a group level, incorporating the startup costs and investments in Safaricom Ethiopia, the group closed at an EBIT of KES.94.9 billion, a 3.5% growth year on year.
Shareholders of Telkom, a South African service provider, will soon vote on a proposal to sell the company's towers and masts to a group led by private equity firm, Actis. Last month, Telkom South Africa confirmed the sale of its tower unit, Swiftnet, for ZAR 6.75 billion (USD 355 million) to Actis. This move aims to reduce debts and improve the company's financial position.
Airtel Africa incurred $89 million in loss after tax for the year ended 31 March 2024, in stark contrast to an after-tax profit of $750 million twelve months earlier.
Safaricom's Ethiopian arm receives a boost as the nation's telecom regulator slashes mobile termination rates (MTR) by a quarter, reducing the cost of connecting its customers' calls with those of rival Ethio Telecom. The Ethiopian Communications Authority (ECA) lowered the rate to 0.23 Ethiopian Birr (Ksh0.54) per minute from ETB0.31 (Ksh0.72) per minute, representing a 25.8 percent decrease.
VodacomGroup released its annual results for the fiscal year ending 31 March 2024. The highlights of the report include a notable increase in group revenue, reaching R151 billion, marking a 26.4% growth, largely driven by the acquisition of Egypt.
In a significant move within the telecom industry, Vodacom Tanzania has announced the acquisition of Smile Communications Tanzania Limited, further solidifying its position in the market. The deal, valued at TZS 68.8 billion (£22 million/€25 million), marks a strategic investment by Vodacom to enhance its service offerings and expand its reach across Tanzania.
Telecom Egypt has announced its decision to halt the sale of its stake in Vodafone Egypt, citing anticipated profits of up to EGP 3 billion from this investment in 2024.
Africa stands at a pivotal moment as the uptake of connectivity services skyrockets, driven by its vast and youthful population. The continent's six major operator groups—Airtel Africa, Axian Telecom, Ethio Telecom, MTN, Orange, and Vodacom—are leading the charge, joining forces to forge closer collaborations with governments.
