# INVITE # CLIENT CALL with Vodacom CEO Shameel Joosub

What? We will be hosting a virtual meeting for NSR clients with Vodacom CEO, Shameel Joosub on Friday 11th September. Format will be a small group, with the focus on Q&A.

When? Friday 11th September, 10.30am ET / 3.30pm UK / 4.30pm SAST

​​​​​REGISTRATION: Please click HERE to register.

Why? This call is a great opportunity for investors to discuss with management about the latest trends and developments for Vodacom. Also, given the recent news around Xavier Niel's purchase of e&'s 17% stake in Vodafone this call is timely we think. We are constructive on Vodacom. We think the company can deliver stronger real revenue expansion than historically with strong growth (in local currency) in Egypt, improving International and inflection in SA. The SA market has become more competitive on the prepaid side recently, but it is in a better shape than in the past. Macro has been resilient in Vodacom’s key markets and price floors are now a theme across African markets, and digital is an increasing driver. With capex under control, helped by the end of load shedding, EFCF yield also rises sharply. Balance sheet is strong too. The mid-term guidance (alongside guidance upgrades) makes Vodacom look very attractive we think as it implies earnings and cash flow more than doubling by 2030. Vodacom remains one of our Top-10 picks.