Vodacom sells its enterprise focused operations in Nigeria, Zambia and Cote d’Ivoire to Synergy Communications
Vodacom Group has announced that it has entered into an agreement with Synergy Communications, who will acquire 100% of Vodacom Business Africa’s (VBA) operations in Nigeria, Zambia and Cote d’Ivoire.
The two entities are in the process of concluding the acquisitions, which are subject to the approval of the regulatory authorities within these markets.
The transaction supports Vodacom Group’s enterprise strategy in Africa, which has been refocused to grow and strengthen its core business.
It will no longer directly service global enterprise customers in these three markets but will rather continue to operate as a pan African telecommunications networks provider through local relationships like the one with Synergy Communications.
This acquisition represents a significant milestone to Synergy Communication’s vision to be a leading provider of cloud and digitally based services in key markets across sub-Saharan Africa and provides key additional assets in its build out of a regional footprint. Synergy Communications currently has operations in Botswana, Malawi and Mozambique.
Andile Ngcaba, Chairman of Synergy Communications said: “This is an exciting landmark transaction for Synergy Communications, providing us with additional momentum in the delivery of our strategy as a pan-African enterprise digital Services Provider. Synergy Communications will partner with major global cloud providers and deliver platform-based services to both multi-nationals and local enterprises.”
Shameel Joosub, CEO of Vodacom Group, says: “Vodacom has a clear vision for strengthening our position as a leading pan-African business and will work with local service providers like Synergy Communications to grow in these markets. Crucially, Vodacom is not exiting any of the territories related to this transaction and remains focused on continuing to deliver exceptional service to our global and multinational clients in these markets through long-term commercial agreements. To support the sustainable growth of pan African digital economies and building connected societies, Vodacom will, via local service providers, continue to service clients in each market. We seek to leverage the collective strengths of Vodacom and Synergy Communications to meet the changing requirements of clients across each of these markets.”