Vodacom Group Ltd. has secured approval from South Africa’s Competition Appeal Court for its R13.2 billion ($752 million) acquisition of a significant stake in the fiber assets of Remgro Ltd..
The deal will see Vodacom acquire a 30% stake in Maziv, a wholly owned subsidiary of Remgro’s Community Investment Ventures Holdings Ltd., with an option to increase its holding to 40%.
Maziv’s primary operating units, Dark Fibre Africa and Vumatel, are among South Africa’s leading builders and owners of fiber-optic networks.
Vodacom Chief Executive Officer Shameel Joosub described the acquisition as a “cornerstone” of the company’s growth strategy.
“This transaction is pivotal in improving connectivity, driving digital inclusion, and supporting South Africa’s digital economy,” he said.
The ruling comes after a two-year review process that initially saw the Competition Commission recommend blocking the deal on antitrust grounds.
Following additional investment commitments from both parties, and with the backing of Trade, Industry and Competition Minister Parks Tau in July, the regulator withdrew its opposition.
With court approval now granted, Vodacom and Maziv will move to complete the last regulatory hurdle — obtaining unconditional clearance from the Independent Communications Authority of South Africa (ICASA). ICASA previously gave conditional approval for the transaction in November 2022.
The acquisition positions Vodacom to strengthen its market presence in South Africa’s high-growth broadband sector, where demand for video, audio, and other data-intensive services continues to rise.
The African unit of Vodafone Group Plc faces increasing competition from MTN Group Ltd. and other network operators, making fiber infrastructure a critical component of its long-term expansion plans.
Industry analysts note that the transaction could accelerate the rollout of high-speed broadband across urban and underserved areas, supporting the government’s goal of broader digital access.
The combined expertise of Vodacom and Maziv is expected to improve network efficiency and extend fiber connectivity to more households and businesses.
Completion of the deal will give Vodacom strategic control over a key segment of South Africa’s telecommunications infrastructure, positioning the company to capitalise on the continent’s growing digital economy and youthful population.
