Egypt Cements Vodacom as Africa’s Most Valuable Mobile Operator
- Sales increased by more than a third after Egypt acquisition
- Pan-African operator’s risks increased as it entered Ethiopia
This article is for subscribers only.
Vodacom Group Ltd.’s acquisition in Egypt helped boost sales by more than a third in the first half, aiding the company’s position as the most valuable mobile operator in Africa.
Sales at Johannesburg-based Vodacom climbed to 72.8 billion rand ($3.9 billion) in the six months through September, it said in a statement Monday. Cross-town rival MTN Group Ltd. still claims bigger revenue and a wider presence on the continent, even as its struggles in Nigeria continue to weigh on its share price.