Vodacom has pledged to invest a
further R60 billion in South Africa over the next five years, having delivered
on its promise to invest R50 billion over five years in 2018.
In a
statement, the mobile operator says this latest substantial investment is
expected to contribute significantly to enhancing network resilience to keep
customers connected, further accelerating Vodacom’s deep rural coverage
programme to help bridge the digital divide and deepen financial inclusion.
The
announcement was made at the fifth South African Investment Conference (SAIC)
held at the Sandton Convention Centre.
SAIC is held
annually in the country over the past five years.
Propelled by the success of the SAIC, President Cyril
Ramaphosa has set a R2 trillion target for South Africa to achieve.
Last year,
the fourth SAIC raised R367 billion in investment commitments, bringing the
country’s five-year investment target firmly into sight.
Since the first investment conference
in 2018, South Africa has attracted R1.14 trillion in commitments.
This represents
95% of the initial target and has translated into investments across a wide
range of economic sectors.
“I am proud
to announce that, as part of the fifth SA Investment Conference, Vodacom has
pledged to invest a further R60 billion in South Africa over the next five
years,” says Shameel Joosub, Vodacom Group CEO.
“Five years
ago, we heeded the call from President Cyril Ramaphosa to play a central role
in his investment drive aimed at attracting R1.2 trillion over a five-year
period. Looking back over the past five years, we believe that our initial R50
billion pledge has played a significant role in fostering digital inclusion for
all and helping to unlock economic and social opportunities for South Africa.”
Over the past
five years, Vodacom says it has made significant improvements to deep rural
network coverage in line with its vision to connect everyone in South Africa,
regardless of location.
It notes that
this has primarily been achieved through investing in additional network sites
and base stations in remote areas, some of which have not had network coverage
since the early 1990s.
“As it
stands, Vodacom has helped improve coverage to 95.8% of the rural population as
well as extending their 4G and 3G population coverage to 97.94% and 99.88% respectively,”
says the telco.
Through these
investments, it adds, the country has enjoyed improved access to digital
skills, benefitting various communities.
“Through
connectivity, children now have access to learning materials, such as e-school,
small and medium business owners can access better opportunities, as well as
farmers who can access platforms which aid in improving productivity, finding a new opportunity, and reducing environmental impact.
“Additionally,
Vodacom has contributed to creating employment in these areas through the likes
of building of base stations, and offered active job seekers the chance to
benefit from our zero-rated job search portals,” it concludes.
