Vodacom Promotes Lesotho Head Ferrao to Tanzanian Business

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Vodacom Group Ltd., the South African unit of Vodafone Group Plc, has appointed Ian Ferrao as managing director of its Tanzanian operations, replacing Rene Meza.

Ferrao will move to Vodacom’s second-biggest market after running the phone company’s unit in Lesotho since 2013, the Johannesburg-based phone company said in an e-mailed statement on Friday. Meza resigned in May to join Ooredoo QSC’s Myanmar unit.

Tanzanian carriers are developing more sophisticated mobile-banking products, such as interest-paying accounts and loans, to boost sales amid a push for more spectrum to improve their networks. Vodacom, which is 65 percent owned by Newbury, England-based Vodafone, had 12 million customers in the east African country as of the end of June.

Meza is one of three senior Vodacom executives to leave the company in recent months. Chief Financial Officer Ivan Dittrich resigned in July, to be replaced by Till Streichert, while Romeo Kumalo stepped down as chief operating officer of the company’s international operations at the end of May to join his family business.

Vodacom shares gained 0.2 percent to 146.54 rand as of 9:44 a.m. in Johannesburg. The stock has gained 14 percent this year, compared with a 8.4 percent decline at its main competitor, MTN Group Ltd.

Ferrao will begin the Tanzania role on Sept. 1 and his successor in Lesotho will be named in due course, the company said.

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