Vodacom lifts revenue target to over R300bn after Safaricom acquisition
The operational shift prompted management to raise its Vision 2030 group revenue target from more than R200 billion to over R300 billion, while upgrading its medium-term Ebitda (earnings before interest, tax, depreciation and amortisation) and operating free cash-flow targets from double-digit to early-teens growth.
Vodacom Group Limited has upgraded its long-term revenue targets and adjusted its capital allocation framework, following the completion of its acquisition of a controlling stake in Safaricom.
Portfolio realignment and dividend policy update Reflecting on the milestone quarter, Shameel Joosub, Vodacom Group CEO, said: “This quarter marked a defining moment for Vodacom with the completion of our acquisition of a controlling stake in Safaricom, increasing our shareholding from 35% to 55%, effective 30 June.
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