Vodacom to expand operations in Tanzania
The South African Vodafone subsidiary, Vodacom, has announced plans to expand its operations in Tanzania.
The communications company is the only telcom to be currently listed on the Dar es Salaam Stock Exchange.
Vodacom has entered discussions with the Tanzanian government, as well as mobile phone operators, to consider the options of expansion.
“Should opportunities present themselves for in-market consolidation in Tanzania, we will have a look if the regulatory environment is favourable,” stated Vodacom’s Chief Executive Oficer, Shameel Joosub.
“We’re having discussions with parties to see if there are opportunities.”
The company raised approximately $225mn last year in order to become the first and only telecom to list on Tanzania’s largest city’s stock exchange.
Last year, Vodacom also purchased a 35% stake in Safaricom Plc, the Kenyan communications firm, in a bid to expand across East Africa.