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How Vodafone (VOD) allowed elites to reap profits of Africa's mobile boom
 [Guardian] Investigation for the Observer shows how deals done by the UK telecoms giant benefited politically connected elites in eastern Africa.'Politically connected elites' along with anyone else whom might have been watching the growth of cellular communications and wishing to invest. The spread of mobile phones across Africa has been one of the continent’s success stories over the past two decades, transforming lives through better communication and simpler banking. It has also resulted in huge profits for powerful international companies ‐ and for some of Africa’s wealthiest and best-connected individuals. But an investigation for the Observer into the African interests of UK mobile phone giant Vodafone, by the Finance Uncovered network, has raised serious questions about transparency and the processes by which western firms entered Africa’s telecoms markets. Often western operators that wanted market access in a particular country would have to choose between accepting a government stake in the venture, or giving significant shareholdings to "local investors". But how those governments selected their partners appears contentious, and questions have been raised over how some deals were structured. Posted by: Besoeker 2017-11-12 |
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