S.Africa's Vodacom plans capex of $1.2 bln this year

Reuters

JOHANNESBURG (Reuters) - South African telecoms operator Vodacom plans to spend 13 billion rand ($1.26 billion) in capital expenditure in the current financial year, with most of that in its home market, its chief financial officer said on Monday.

"We are looking to spend 70 percent of the 13 billion, or approximately 9 billion, in South Africa and the rest in our international operations," Chief Financial Officer Ivan Dittrich told reporters on a conference call.

Vodacom, a unit of Britain's Vodafone, also has operations in Tanzania, Democratic Republic of Congo, Lesotho and Mozambique.

The company plans to spend between 14 to 17 percent of its revenue on expansion over the next three years, Dittrich said.($1 = 10.3510 South African Rand)