Vodafone Africa Becomes Profit Machine via Banking
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Almost two decades after Vodafone Group Plc entered Africa, the region -- where most people earn less than $2 a day and mobile phone towers run on diesel -- is turning into one of the company’s biggest profit generators.
The rising powerhouse is helping make up for Europe’s slowdown after Chief Executive Officer Vittorio Colao last year had to write down $9.5 billion on the value of Vodafone’s Spanish and Italian units.