Vodacom Tanzania to shed off 25pc stake as listing deadline looms

A Vodacom shop. The telco is awaiting regulatory approval for an Initial Public Offering following a presidential decree for all telcos to offload 25 per cent of their shares before December 31. (PHOTO: COURTESY)

Tanzania’s leading mobile service provider, Vodacom, has announced an Initial Public Offering (IPO) that will see the telco sell off 25 per cent of its shares.

The move comes following a deadline set by President John Magufuli to have telecommunication service providers in the country list 25 per cent of their shares on the Dar es Salam Securities Exchange by December 31.