Powering Africa’s
digital future through
connectivity

Absa | Corporate and Investment Banking > Insights and Events > Powering Africa’s digital future through connectivity
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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

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