JOHANNESBURG, June 15 (Reuters) - South Africa's Vodacom Group VODJ.J said on Thursday it has appointed non-executive director Jabu Moleketi to succeed Peter Moyo as the mobile phone network operator's next chairman.
Moleketi will take up the role on July 19, Vodacom said in a statement.
Moyo announced his retirement in April after more than seven years at Vodacom, which is majority-owned by Britain's Vodafone VOD.L . He joined Old Mutual Emerging Markets as its chief executive in June. said Moleketi, a former deputy finance minister, will also take over as chairman of the Nomination Committee and step down from the Audit, Risk and Compliance Committee.
Moleketi, 59, will oversee the mobile phone operator as it expands into Kenya after announcing a 34.6 billion rand ($2.72 billion) deal in May to acquire a 35 percent stake in Safaricom SCOM.NR from Vodafone. deal gives Vodacom access to a market where Safaricom has a 71 percent share and demand for mobile phone services is still growing.
Safaricom's popular mobile financial services M-Pesa will expand into more African countries, giving millions of people access to banking services without the need for a bank account.
Vodacom is also positioning itself to run its parent company's sub-Saharan African operations as part of Vodafone CEO Vittorio Colao's "single, coordinated Africa strategy".
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.