Vodacom South Africa now a standalone business

JOHANNESBURG: Vodacom Group said on Thursday it has simplified its structure and created a standalone South African business as it seeks to manage its already expanded African footprint and grow further.

Its shares rose 0.24% after the news, outperforming the wider index, which fell nearly 2%.

South Africa’s biggest telecoms company by value said in a statement it needed the new structure to manage its expanded African portfolio and growth plans on the continent, including financial and digital services.