Powering Africa’s digital future through connectivity Absa | Corporate and Investment Banking > Insights and Events > Powering Africa’s digital future through connectivity SHARE We are pleased to have served as sole transaction coordinator in the successful financing of Vodacom's R11 billion preference share facility used to refinance the acquisition of a controlling stake in Vodafone Egypt. This strategic transaction signals a significant milestone, not only for Vodacom but also for the broader telecommunications and financial services landscape in Africa. The transaction represents the largest syndicated preference share facility closed to date in the South African market. In 2022, Vodacom acquired a 55% controlling stake in Vodafone Egypt in a R41 billion deal. With this acquisition, Vodacom has now expanded its reach to over 500 million people across Africa, significantly strengthening its capabilities in delivering connectivity and financial services. Our longstanding relationship with Vodacom has been instrumental in the success of this transaction. By acting as sole coordinator for the refinancing, we have not only strengthened our partnership with Vodacom but also reaffirmed our role as a key player in facilitating significant, high-impact deals within the South African market but also reaffirmed our role as a key player in facilitating significant, high-impact deals within the South African market. Contact Esti Stransky for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Powering progress for a cleaner energy future We are proud to partner with Mulilo and Air Products South Africa on a transformative 75MWAC solar PV power plant in the Northern Cape. The Ukuqala Project marks a significant step in advancing South Africa’s renewable energy transition and securing a low-carbon future. Read more DEALS Driving purposeful partnerships to advance retail growth in Africa At Absa CIB, we’re committed to building partnerships that create lasting value for both businesses and communities. Our collaboration with Garden City Mall in Nairobi, Kenya, highlights this commitment as we help drive sustainable growth and economic opportunity in one of East Africa’s largest retail developments through a USD 37,3 million commercial property financing transaction. Read more DEALS Driving a greener energy value chain We are pleased to share that Absa has successfully acted as Co-Mandated Lead Arranger, Facility Agent and Hedge Provider alongside Nedbank for Pele Green Energy’s Sonvanger 100MW solar PV power project. This R2.2 billion project is a landmark transaction for Pele Green Energy, positioning them as a leading developer in South Africa’s renewable energy sector. Read more
