[ICYMI] Vodacom forks out R4bn on back-up power
In the past financial year, it was forced to fork out R300-million on additional running costs, including diesel, security, and maintenance of its infrastructure.
Despite the energy crisis and higher operating costs, Vodacom, one of the biggest network providers, posted an increase in net profit of 2.1-percent, in its full-year earnings report.In South Africa, overall operating profit dropped by 1.2-percent. In the period, Vodacom benefited from a higher demand in data and also saw growth in mobile contract customer revenue.
But the company's CEO, Shameel Joosub, says power cuts have been disastrous for South Africa’s telecommunications industry.
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