Vodacom hit by first fall in 15 years

The fall demonstrates the high cost of black empowerment compliance, with the damage inflicted by R1,4bn of costs incurred by selling 6,25% of its local operations to ordinary black citizens, business partners and staff.
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@#$@^(!)()#()!_(^)(!@)#()%(!)@(#) @#)!@(#)!(%)!)@#(!)@#(!)@#()%(!@@!

Oh how I wait for the international community to wake up and realize that BEE is nothing more than a racist practise made legal in SA.
 
Well take the example of Vodacom in Mozambique. For years they bumbled along. Now with a bit of extra investment and some local partners the business has turned around and is close to taking the No 1 spot in the market.

Is this racist? is it the same as BEE? I would say no to the first, yes to the second. But it adds value.
 
Alot of excuses in the article.
Saw that coming...
 
The fall demonstrates the high cost of black empowerment compliance, with the damage inflicted by R1,4bn of costs incurred by selling 6,25% of its local operations to ordinary black citizens, business partners and staff.
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No more expensive than having you, Mr Uys, on the board - I suspect.
 
rivals had introduced almost free call fees forcing Vodacom to respond
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This comment is from the note regarding the problems encountered in the DRC.

If rivals could introduce almost free calls overthere, and VC responded and still made a profit, why could the same not happen in South Africa?

Which VC rival will set the pace in SA?
 
Its tax concessions ended, rivals had introduced almost free call fees forcing Vodacom to respond, and along with political unrest it added up to a tough environment, Uys said.
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Hmmm.... maybe we can ask a few of their rivals to come on over and have a party?
 
AirWolf said:
Damn right it's not fair - I wanted 600 shares but they only gave me 100, because I guess being Indian is on the least priority in terms of BEE:(.
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Ye the Indians got 100 shares:confused:
I bought for 25k, they gave me 100 lol, but im not complaining now anyway!:p
 
I think all Mobile Operators should look at present profit levels and appreciate it - they are going to dwindle in years to come, until their networks become just that - networks for data

We will see handhelds that feed off WiFi with hotspots galore that will run all your comms needs - VOIP & Net at fixed monthly prices
 
AirWolf said:
Damn right it's not fair - I wanted 600 shares but they only gave me 100, because I guess being Indian is on the least priority in terms of BEE:(.
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That usually happens when a share issue is oversubscribed and the allocation had to be reduced. Did they say it was because of your colour?
 
AirWolf said:
No they did not, but IIRC the prospectus did have the break-down of people the offer applied to and Indian was second last to Chinese.
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OK, then you would need some evidence including an example of a Black, White etc.. person who requested the same amount and received a different allocation.

The prospectus would have needed to ask about colour in order to comply with the terms of the offer i.e. BEE only.
 
Their financial statements for the last 3 years are in the papers and can be downloaded from the internet.
They look OK, just the BBBBBEEEEEE deal, causing the trouble.
 
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