Vodacom, the South African unit of British Vodafone Group Plc, has recently announced that it has appointed its Lesotho head Mr. Ian Ferrao, as the new Managing Director of its operations in Tanzania, the company’s second biggest market in Africa.
MD Ferrao will begin his role in Tanzania on 1st September, 2015, replacing Mr. Rene Meza whom resigned from the company on 11th May, 2015, to join Ooredoo QSC’s Myamar unit as its new CEO.
According to last company’s website update, Vodacom has 12 million customers in East African countries of which 10 million in Tanzania, representing the 2.4% of the company’s total customers.
Vodacom is 65% owned by its parent company Vodafone Group Plc while the difference is outstanding in Johannesburg Stock Exchange.
The day after the announcement, Vodacom shares gained in Johannesburg stock exchange 0.41% to reach the ZAR 14,600. According to data compiled by Bloomberg, the company’s stock has gained 14.0% year to date ahead of a decline of 8.4% from its main competitor MT GroupLtd.