In a bid to increase earnings, Vodacom has sold over a thousand phone towers to the George-Soros-backed Helios Towers Tanzania.
Africa’s largest media company has purportedly discussed a bond sale of $500-million to $1-billion for a seven to 10-year term with investors.
The ratings agency warns that MTN’s new business model, which foresees ongoing growth on the continent, also exposes it to less certainty.
The company says its 2013 financial results reaffirm the need to act with urgency to turn the group’s performance around.
South Africa’s banking and cellphone giants are in a battle to reach the 11-million people in the country with no bank accounts.