Vodacom to Speed African Broadband Expansion After Profit Jumps

Vodacom Group Ltd. plans to accelerate broadband coverage across its African markets through additional deals and partnerships, after reporting the biggest jump in profit in more than a decade, Chief Executive Officer Shameel Joosub said in an interview.

The Johannesburg-based company has received most regulatory approvals to buy a $750 million stake in Remgro Ltd.’s fiber business. That cash injection from Vodacom following the deal will assist with immediate expansion plans in its home-market South Africa, said Joosub.