Cellular network operator Vodacom says it will continue to look for investment opportunities, but for now its focus is Nigeria.
Speaking at a telecoms analysts` day hosted by Telkom yesterday, Debbie Millar, the executive head of Vodacom`s treasury, tax and financial planning, described Nigeria as the single biggest opportunity in Africa.
She said there had been many questions about why Vodacom pulled out of the race for the second cellular licence in Iran.
The group pulled out of the bidding process after being shortlisted along with fellow South African cellular operator MTN and four others. The licence was awarded to a Turkish company.
However, Millar says, the company`s shareholders are aligned on the strategy of investing in African markets rather than all emerging markets, with the current focus being on Nigeria.
She says there is a process in place to ensure risk mitigation and adds that the commercial risk profile in that country is now more palatable.
Vodacom has a management contract with Econet Wireless Nigeria, although Millar points out that it has no decision-making power.
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