From Business Day Live

Two market-shifting deals have deep implications for the African cellphone and telecoms markets.

Vodafone’s $130bn sale of its 45 percent stake in the American mobile network operator Verizon Wireless is the third-biggest corporate deal in history in any sector.

The fact that the biggest to date was Vodafone’s $203-billion takeover of Mannesmann in 2000 says much about the massive flow of revenue in the telecoms industry.

Across Africa, telecommunications is fast replacing mining as the most lucrative sector, and part of Vodafone’s windfall from the deal will be pumped into bolstering its opportunities on the continent.

In a Vodafone presentation to investors on the deal, CEO Vittorio Colao lifted the lid on Project Spring: a “new program of additional organic investments in 4G, 3G, fibre and broadband, enterprise services and improved customer experience across all of our markets”.

The “deal dividend” means Vodafone will commit at least €6bn to high-speed broadband infrastructure in emerging markets, with a strong focus on Africa.

Read more at Business Day Live .