Vodacom Group Ltd. plans to roll out financial-services products in its new market of Egypt, using the super app the wireless carrier is developing alongside China’s Alibaba Group Holdings Ltd.
The Johannesburg-based company has received approvals to buy the Egypt business from its parent, Vodafone Group Plc, for $2.7 billion, Chief Executive Officer Shameel Joosub said in an interview. Vodacom is also negotiating the terms of a mobile-money license in Ethiopia, where it will likely use the M-Pesa platform of Kenyan partner Safaricom Ltd., he said.
