Johannesburg - Vodacom Group [JSE:VOD] no longer plans to exit the
Democratic Republic of Congo, where it aims to resolve a longstanding dispute
with its local partner, incoming CEO Shameel Joosub said on Friday.
Vodacom has previously said it was looking to exit the
business in the DRC, where it has been stuck for years in a row with Congolese
Wireless Network over fees.
“We are working with
the local partner to resolve the issues. We are confident the issues are
resolvable,” Joosub told reporters at a media event.
Joosub was speaking to reporters for the first time since
being named as the company’s next chief executive. He will replace current head
Pieter Uys in April next year.
He also said the company plans to roll out next generation
4G services in South Africa by the end of this year.
Joosub’s comments about the DRC business signal a major
shift in strategy over the unit, of which Vodacom owns 51%.
The company in 2010 appointed investment bank Rothschild to
help with the sale of the stake.
The sale process was halted after a DRC court ordered
Vodacom to pay $21m in consulting fees to a separate firm or face the loss of
That dispute is also on-going.
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