Vodacom did not put R2 billion back into our pockets, as its CEO claimed this week | ferialhaffajee
Profits were down as Vodacom. CEO Shameel Joosub, in the earnings report, said the company had put R2bn back into customers pockets. I had to read that line seven times to make sure I was seeing right.
Corporates never put money back into your pocket. This is not cynicism, but realism. There’s always a reason if you follow the money. So, for example, you get rewards – or something back in your pocket - to keep you loyal.In Vodacom’s case, it felt the heat from the regulator, the Independent Communications Authority of SA, as well as from the Competition Commission and from the governing ANC which set out a resolution called #Datamustfall to campaign against high data prices.
Data expiry provisions were an almost feudal practice, but our mobile communications companies expired data faster than a pack of Cheddar cheese to rack up significant profits until Rain, the newcomer telco, entered the market with a promise of no expiry, andThere’s a lesson in this: the regulators and the ANC picked up the campaign after it started in civil society. Amandla.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cash van guards stole R2.9m which they buried in ice-cream tubs and refuse bagsTwo former Fidelity security guards have been convicted of the theft of R2.9m by the Makhado Magistrate's Court in Limpopo.
Read more »
Cash security guards who stole R2.9 million sentenced in LimpopoThe theft was reported by their manager after the two men failed to account for the missing money.
Read more »
Fidelity guards buried R2.9m in their back yards, splashed out on a 4x4'The pair had collected money from various places but instead of making deposits, they took the money for themselves.'
Read more »
Fidelity guards buried R2.9m in their back yards, splashed out on a 4x4Two former Fidelity security guards have been sentenced to nine years in prison after they stole about R2.9m.
Read more »
Cash-in-transit guards jailed for R2.9m theftA plan by two Limpopo cash-in-transit guards to enrich themselves with the money they were meant to protect has instead landed them in jail after they were found guilty of stealing more than R2-million this week.
Read more »
Fidelity guards buried R2.9m in their back yards, splashed out on a 4x4Two former Fidelity security guards have been sentenced to nine years in prison after they stole about R2.9m.
Read more »
North West cops in the dock for 'facilitation of bail' feeThe sergeant allegedly asked for R2,500, claiming R500 was for bail and R2,000 for the “facilitation” of bail.
Read more »
Vodacom is spending billions on 'SA’s cheapest data network' Rain, while its own data prices continue to plummetVodacom will soon have spent R2.3 billion in capital on the much smaller data-only network Rain, its latest financial results show – money its competitors think will be very well spent.
Read more »
Is it that absurd that moms should be paid for being 'home executives'?According to that survey, stay-at-home moms should earn up to about $160k - just over R2-million a year.
Read more »
The ANC spent more than an estimated R1bn to retain powerPolitical parties spent about R2 billion combined this year's general elections, and the cost of politics is only projected to increase.
Read more »
Murdered Ugandan woman's family to get justice after suspect's arrest in SA | The StarSusan Maraga's family paid R2.6m to her kidnappers but her mutilated body was found on the side of the road.
Read more »