Remgro-controlled Community Investment Ventures Holdings’ (CIVH’s) subsidiaries Dark Fibre Africa (DFA) and Vumatel have made huge profits. Networking Vumatel DarkFibreAfrica DFA Remgro
Remgro-controlled Community Investment Ventures Holdings’ subsidiaries Dark Fibre Africa and Vumatel have made huge profits.
It adds that Vumatel’s underlying operating earnings increased by 16.7% to R565 million for the six months to 30 September 2022 . “Vumatel remains a growth asset for the group, as it continues infrastructure expansion into identified lower living standards measure areas and accelerating connections in both its traditional core network and lower LSM areas,” says the company.
“DFA is the premier open-access fibre infrastructure and connectivity provider in South Africa. It builds, installs, manages and maintains a fibre network to transmit metro and long-haul telecommunications traffic, which is leased to its customers using an open-access wholesale commercial model.” It explains that Maziv will hold CIVH’s current interests in Vumatel and DFA. “As a result of the proposed transaction, Remgro's indirect interest in DFA and Vumatel will dilute with the entrance of Vodacom as a shareholder, but Remgro will also obtain an indirect interest in the assets contributed by Vodacom.
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