‘Vodacom looking for acquisitions’

Vodacom, the South African unit of Britain's Vodafone, is looking for potential acquisitions in Africa, its chief executive said on Monday.

“For us to sustain the growth of the group going forward we think we need to look at new opportunities as well,” Chief Executive Shameel Joosub said at the company's earnings conference, when asked about acquisitions.

Vodacom chief executive Shameel Joosub. Photo: Leon Nicholas. Credit: INDEPENDENT MEDIA

Vodacom is the dominant mobile operator in South Africa, but has a much smaller presence on the broader continent, where it is dwarfed by rival MTN Group. - Reuters