Vodacom profit hit by Ethiopia start-up costs

on Monday reported a 10.8% fall in full-year earnings, impacted by start-up losses in Ethiopia , higher finance and energy costs, and inflationary pressures.

The biggest telecoms operator in South Africa said headline earnings per share , a profit measure, fell to R8.46 in the year ended 31 March, from R9.48 a year earlier. He said despite start-up costs associated with operations in Ethiopia, Safaricom has confirmed that its network roll-out was on track in Africa’s second most populous country after Nigeria.

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