Louise Radcliffe's questions to Vodacom Group Ltd / ADR (VDMCY) leadership • Q4 2023
Question
Louise Radcliffe from Investec asked about the network's ability to handle severe load-shedding, how this affects CapEx replacement cycles, and for details on specific cost-saving initiatives being targeted in South Africa.
Answer
CFO Raisibe Morathi explained that continued investment in battery capacity, generators, and network sharing will allow Vodacom to manage within its 13-14.5% CapEx intensity guidance. For cost savings, she highlighted renegotiating supplier contracts, shifting FX-denominated spending to local currency, process digitization via RPA, and the ongoing 'fit for growth' program.