YeboYethu owns 3. Profitability in the DRC was negatively impacted by an increase in indirect taxes levied by government, changes in interconnection rates, increases in network maintenance and site costs due to fuel and security increases and challenging market conditions. The country has not yet adopted a national policy on ICT. The tax system is not favourable to development in the sector.
Furthermore, operators must pay the 2 per cent regulatory tax in addition to a new excise tax on communication prices, which is also 2 per cent. The equipment is also taxed. Nonetheless, it must be noted that operators were granted exemptions in the past.
The telecommunications industry in the DRC is also subject to a ministerial decree promulgated during the financial year requiring the registration of the entire customer base of all network operators. This decree required prescribed particulars of all customers to be obtained and maintained by 30 June Verbal extension was obtained initially to 31 December and subsequently further extended to 30 June The Group is making every effort to obtain the required information within the allowed timeframe, but believes it is unlikely that the Group will meet all the requirements in time.
The Group continues to engage with the relevant ministries on this matter and is presently unable to reliably assess the potential impact on the Group in the event of partial non-compliance.
In Vodacom became the first service provider in southern Africa to announce budget cuts after its international operations suffered a drop in revenue over the past quarter. The company said it is cutting back on its budget in the DRC and Tanzania after the mobile market in the two countries were hit by intense competition, weak economic conditions and higher excise duties. On 8 April the Group entered into a construction and maintenance agreement and supply contract for the building and laying of the West Africa Cable System "WACS" submarine cable, resulting in the Group becoming a co-owner in the consortium that owns and operates the WACS submarine cable.
Vodacom's presence in Africa was strengthened with the acquisition of Gateway on 30 December , which has customers in 40 countries in Africa, providing communications services to multi-national companies and telecommunications network operators. In addition, Vodafone has agreed to use Vodacom as its exclusive investment vehicle in sub- Saharan Africa. Research Research Research activity and project outlines. About IDE. Save my name, email, and website in this browser for the next time I comment.
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Joosub said the company's focus will now be on growing its customers in its current footprint. Vodacom plans to pay for the transaction with a combination of ZAR6 billion in cash and the contribution of its fiber-to-the-home, fiber-to-the-business and business-to-business transmission access fiber network infrastructure to InfraCo at a valuation of ZAR4.
Vodacom expects the transaction to scale-up the reach of fiber in South Africa, particularly to smaller and poorer towns. Every week we highlight the most timely exchange-traded fund news, from new launches to inflows and performance.
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