Acquisition opportunities are opening in Africa for Vodacom Group as telecommunications assets become more affordable, the JSE-listed group's CEO, Shameel Joosub, said this week at the presentation of its annual results for the year ended March 31. Joosub made the comments on Monday, just hours after Vodacom announced it was acquiring an effective 34.9% stake in Kenya's Safaricom in a share deal with parent Vodafone worth about R35-billion. The deal more than doubles the size of Vodacom's international operations, making it a more formidable player on the continent next to rival MTN Group. The acquisition sees Vodacom buying 87.5% of Vodafone Kenya from Vodafone Group, subject to approval. Vodafone Kenya's only asset is a 39.9% interest in Safaricom. Vodafone Group will retain 12.5% of Vodafone Kenya, for an effective 5% stake in Safaricom. Joosub hinted that the deal to acquire 35% of Safaricom — Kenya's largest cellphone operator with 71% market share — was just the start of acqui...
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