Vodacom nabs Madiba link

Johannesburg, 13 May 2008

Vodacom has sold a 5% stake in its Mozambique operation to Whatana Investments, bringing its local ownership to a total of 15%.

This privately owned investment house - chaired by wife of former SA president Nelson Mandela, Graca Machel - joins Vodacom's original partner and regional co-founder, Emotel Investment Consortium and Intelec Holdings. Both companies hold a 5% interest in Vodacom Mozambique.

Whatana has a further option to increase its shareholding over the next five years, although the extent of the options has not been disclosed. The group has interests in the mining, energy, logistics, telecommunication, tourism and finance sectors.

Vodacom Group CEO Alan Knott-Craig says the deal forms part of its strategy to "create a truly Mozambican company".

"Vodacom Mozambique is pleased to welcome Whatana as a shareholder. [Together we] will provide cutting-edge technology to Mozambicans and we look forward to the contribution that our new shareholder will make to Vodacom Mozambique."

Whatana's management team, led by Malenga Machel and Nuno Quelhas, have been working with Vodacom over the last few months in order to understand its strategy, says Vodacom.

Adds Malenga Machel: "Whatana is very proud to become a shareholder of Vodacom Mozambique, a company that adds value to the lives of millions of Mozambicans by ensuring ease of communication. This not only has economic benefits for all the people of Mozambique, but ensures that everyone in this country, from Rovuma to Maputo, is only a phone call away from each other. Whatana is committed to help materialise Vodacom's objectives in Mozambique."

The value of the transaction was not disclosed.