Vodacom, Led By South African Exec. Shameel Joosub, Extends Deadline For 790 Million Maziv Deal

Vodacom Group, led by South African executive Shameel Joosub, has extended the deadline for its planned acquisition of a 30 percent stake in Maziv Proprietary Ltd. to Feb. 14, 2025, marking another delay in the R14-billion 790 million deal aimed at strengthening its fiber market position in South Africa.

The Johannesburg-based telecom giant announced the extension in a regulatory filing last week , pushing the acquisition timeline to February 2025 due to ongoing regulatory hurdles. The deal, first disclosed on Nov. 10, 2021 , has encountered multiple regulatory and transactional hurdles, leading to repeated extensions.

Maziv, a subsidiary of Community Investment Ventures Holdings CIVH, brings together fiber network operators Vumatel and Dark Fibre Africa. As part of the deal, Vodacom planned to invest R6 billion 338.93 million in cash and contribute fiber assets worth R4.2 billion 237.25 million. However, concerns over market dominance and pricing have complicated approval.

In October 2024, the Competition Tribunal rejected the transaction , warning it could lead to reduced competition and higher consumer costs. Despite this, Vodacom is determined to push forward, seeing the acquisition as key to expanding its broadband services and reaching underserved communities across Africa.

Vodacom, which serves over 200 million subscribers across Africa, reported a modest 1.02 percent increase in revenue for the first half of its 2025 fiscal year , reaching R73.54 billion 4.13 billion, up from R72.8 billion 4.08 billion during the same period last year. CEO Joosub, who holds a 0.09 percent stake in the company valued at nearly 10 million, has spearheaded the companys efforts to enhance its digital infrastructure.