As reported by the stock exchange news service on Thursday, 13th February 2025, Vodacom Group CEO Shameel Joosub sold shares for R20 million.
The sale was executed in two tranches: the first, on Tuesday, 11th February 2025, saw Joosub offload 165,809 shares for approximately R8.2 million, while the second, on Wednesday, 12th February 2025, was valued at around R11.8 million. The shares were sold at an average price of just over R120 per share.
This sale comes as Vodacom’s stock continues to show strong growth after a period of underperformance. Between early 2022 and mid-2024, Vodacom’s share price dropped significantly, hitting a low of R85.44. However, over the past six months, the stock has rebounded, gaining 22% in value, and is now up 30% year-on-year.
The stock’s impressive performance can be attributed to several factors, such as strategic expansions, improved financial outcomes, and a more optimistic market outlook. To reassure investors, Vodacom has been aggressively expanding its presence throughout Africa, improving digital services, and increasing operational efficacy.
Joosub’s decision to sell shares amid this upward momentum may be seen as a strategic financial move. While executives frequently adjust their shareholdings for various reasons, such sales can sometimes spark speculation about a company’s future direction.
Vodacom is still among the leading telecom providers in Africa, expanding its network across the continent and adapting to the shifting demands of its customers even after the sale.
