News

Prysmian’s deal with Molex is expected to create hundreds of jobs in the United States as the company expands optical fibre output.

Edited by Brad Randall, Broadband Communities

Cable manufacturer Prysmian has secured a 10-year deal worth up to 5.5 billion euros ($6.4 billion) with electronics firm Molex to supply high-density optical fibre for artificial intelligence data centers.

The agreement, announced July 20, includes an upfront payment of 550 million euros. Additionally, it will move Prysmian into the internal data center wiring market to feed surging demand from cloud and AI infrastructure providers, the company says.

To fulfill the deal, the Italian company plans to invest 1.25 billion euros by 2031 to expand its manufacturing footprint, more than doubling its optical fibre output in the United States. The expansion is expected to create 1,000 global jobs, including 600 in the U.S.

Prysmian CEO Massimo Battaini called the agreement a “transformative moment” for the company’s digital unit as tech firms racing to build out AI clusters drive structural upgrades to fibre networks.

Some AI tools also assisted in the crafting of this report.

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Vodacom Group has reported higher first-quarter revenue and service revenue, supported by strong performances in Egypt, its international operations and financial services, as the operator completed its acquisition of a controlling stake in Safaricom.

For the quarter ended 30 June 2026, group revenue increased 5.9% year-on-year to ZAR42.4 billion, while service revenue rose 6.3% to ZAR34.3 billion. On a normalised basis, which excludes foreign exchange effects, service revenue grew 12.6%.

Financial services continued to be a key growth driver, with revenue from the segment rising 17.8% to ZAR4.5 billion. Including Safaricom, Vodacom’s mobile money platforms processed transactions worth US$547.9 billion over the past 12 months.

The operator said the acquisition of an additional 20% stake in Safaricom, increasing its shareholding from 35% to 55%, became effective on 30 June and marks a significant step in its Vision 2030 strategy.

As a result of the transaction, Vodacom has raised its medium-term EBITDA and operating free cash flow growth targets from double-digit to early-teens growth. The company also increased its Vision 2030 revenue ambition from more than ZAR200 billion to more than ZAR300 billion.

Group CEO Shameel Joosub said the acquisition strengthens Vodacom’s geographic diversification and increases its exposure to higher-growth digital and financial services businesses across Africa.

« Normalised group service revenue growth of 12.6% remains on track to deliver our medium-term ambition of double-digit growth, » he said.

Egypt remained Vodacom’s fastest-growing market, with service revenue increasing 32.8% in local currency, supported by spectrum and network investments. Financial services revenue in Egypt grew 73%.

South Africa recorded service revenue growth of 2%, with the company noting that its prepaid segment returned to growth following efforts to simplify tariffs and improve customer value propositions.

Vodacom’s international business also maintained strong momentum, with normalised service revenue increasing 14%, driven by Tanzania, the Democratic Republic of the Congo and Lesotho.

Revenue from businesses beyond traditional mobile connectivity, including financial services and fixed broadband, totalled R7.8 billion during the quarter, representing 22.8% of group service revenue. Financial services remained the largest contributor, underlining the company’s increasing focus on digital and fintech services as it looks to diversify its revenue streams.

Vodacom also highlighted continued investment in fixed broadband through Maziv, including an additional R0.8 billion investment to support the completion of the Herotel transaction, which it said would help accelerate fibre deployment in South Africa.

Following the completion of the Safaricom transaction, the board also updated its dividend policy to a payout of at least 65% of headline earnings, saying the move reflects greater confidence in the group’s future growth and cash generation.

Vodacom Lesotho has launched Tsetela, a mobile-based investment solution aimed at expanding access to formal investing among the country’s population.

Developed by Vodacom subsidiary VCL Financial Services in partnership with STANLIB Lesotho, Tsetela – which means ‘to invest’ – enables M-Pesa customers to begin building value directly from their mobile wallets. This will help to consolidate M-Pesa’s role in Lesotho’s financial ecosystem by offering regulated investment opportunities.

Tsetela is aimed at extending M-Pesa beyond everyday transactions into wealth-building. Eligible individual M-Pesa customers and Mokhatlo Group Savings customers can use the service to invest directly from their wallets, earn daily interest, view their balances through USSD and request withdrawals, in line with applicable product terms, conditions and turnaround times.

M-Pesa is trusted across urban, peri-urban and rural communities, so an investment service launching via this platform removes barriers – including distance, paperwork, perceived complexity and assumptions about high entry requirements – that have long kept many Basotho (the people of Lesotho) outside formal financial markets. Tsetela thereby provides customers who have traditionally relied on cash-based or community savings channels with a channel for regulated investing.

Speaking at the launch, Teboho Shelile, on behalf of the Minister of Finance and Development Planning, said: « Product innovation is strongest when driven by the private sector, with government creating an enabling policy and regulatory environment. Financial inclusion remains central to economic development and no country can achieve meaningful growth without widening access to investment opportunities. »

Vodacom Lesotho Chief Executive Officer, Mohale Ralebitso, said: « Financial inclusion goes beyond access to services; it enables Basotho to participate more fully in the economy and plan more confidently for the future. Even a modest investment of M1 [ZAR1 / US$0.06] can build value when placed within a structured and regulated investment environment. Tsetela is being introduced at a level that is accessible and aligned with the means of our people. As the product matures, we intend to expand the range of available portfolios. »

STANLIB Lesotho Managing Director, Mohlabinyane Mohapi, added: « Traditional investment channels have excluded many Basotho through barriers such as bank account requirements and high minimum investment thresholds, in some cases starting at M5,000 [US$296]. Tsetela seeks to remove these barriers and deepen financial inclusion. To build public confidence, STANLIB is licensed by the Central Bank of Lesotho and operates within a comprehensive regulatory framework. Investor funds are segregated from company funds, operations are subject to annual audit, and compliance reporting is undertaken in line with applicable requirements. An independent trustee also oversees performance and regulatory adherence. We maintain a structured risk management framework to identify, monitor and manage risk appropriately, making the product well suited to short-term investors, risk-averse Basotho and individuals who require liquidity. »

Digicel has announced a major expansion of its fibre network in St. Lucia, with the operator aiming to extend coverage to more than 99% of homes across the Caribbean island.

Backed by an investment of approximately XCD6.36 million (US$2.35 million), the rollout will make Digicel’s fibre services available to an additional 23,412 homes. Once completed, the operator’s network will pass 53,253 homes, up from around 56% coverage before the expansion.

The project, which began in July 2025, is around 50% complete and is expected to finish in September.

The expanded network will cover communities including Anse La Raye, Canaries, Soufrière, Choiseul, Dennery, Praslin, Micoud, Vieux Fort, Babonneau and Castries.

Residents and businesses connected to the network will be able to access high-speed broadband, IPTV and bundled service packages, with Digicel saying the investment will support online learning, remote working, digital services and business operations.

Joel Wallace, CEO of Digicel St. Lucia, said the company is seeking to extend reliable broadband connectivity to communities that have traditionally been more difficult to serve.

« By taking fibre deeper into areas that have traditionally been harder to reach, this investment will give more families and businesses the tools they need to learn, work, access services, and participate in the digital economy, » he said.

The rollout builds on broadband infrastructure developed through the Caribbean Regional Communications Infrastructure Program (CARCIP), a World Bank-supported initiative delivered in partnership with the Government of St. Lucia. Digicel said its latest investment extends that foundation to bring fibre services to more communities across the island.

Philippines-based operator Globe has entered into a strategic partnership with Japan’s KDDI Corporation to explore new opportunities in mobile services and retail, as the companies look to enhance customer experience and expand digital offerings.

The collaboration will focus on identifying new growth opportunities by combining KDDI’s experience in telecommunications and digital services with Globe’s customer base and market presence in the Philippines.

As part of the partnership, the companies will initially explore ways to expand and modernise Globe’s retail footprint. Rather than simply increasing the number of stores, the initiative aims to redesign the retail experience to better serve customers in an increasingly digital market while maintaining access to in-person support.

Globe said the move comes two years after it streamlined parts of its physical retail network as more customers shifted to digital channels.

Carl Cruz, president and CEO of Globe, said the partnership would allow the operator to learn from one of the world’s most advanced telecoms markets while contributing its own understanding of Filipino consumers.

« Together, we aim to explore new ways to make mobile services more relevant, retail experiences more seamless, and digital solutions more responsive to the evolving needs of Filipinos, » he said.

The companies will also examine how KDDI’s recurring revenue model, which combines telecommunications with financial, entertainment, lifestyle and other digital services, could be adapted to complement Globe’s business. Globe currently serves around 67 million mobile customers.

The operator said the partnership supports its broader strategy of evolving beyond traditional connectivity by building a more integrated digital ecosystem and creating additional value for customers.

Financial terms of the agreement were not disclosed.

This Industry Viewpoint was authored by Markus Persson, Global Industry Director, Telecom at IFS.

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Airtel Africa has reported double-digit revenue growth for the quarter ended 30 June 2026, as rising smartphone adoption, surging data usage and continued expansion of its Airtel Money platform helped boost both customer numbers and profitability.

Revenue increased 31% year-on-year in reported currency to US$1.85 billion, reflecting constant currency growth of 21.1%. Mobile services revenue rose 19.1% in constant currency, while mobile money revenue grew 25.8%. Data remained the strongest-performing segment, with revenue increasing 27.2% and voice revenue growing 11.2%.

The operator’s customer base grew 11.6% to 189 million subscribers, with data customers rising 15.5% to 87.3 million. Smartphone penetration reached 51%, up from 45.8% a year earlier, helping drive monthly data usage per customer from 7.8GB to 10.6GB and increasing total data traffic across the network by 56.3%.

Airtel Money also continued its strong growth trajectory. The platform’s customer base increased 23.3% to 56.5 million, while annualised total processed value (TPV) rose 51.5% to more than US$245 billion as the company expanded digital payment services and financial inclusion initiatives.

EBITDA increased 36.6% in reported currency to US$928 million, with the EBITDA margin improving by 206 basis points to 50.1%, despite higher energy costs linked to recent geopolitical developments. Profit after tax rose to US$198 million from US$156 million in the same period last year, although earnings were impacted by a US$37 million exceptional finance cost relating to the settlement of a commercial dispute at one of its subsidiaries.

During the quarter, Airtel Africa significantly increased network investment, with capital expenditure rising to US$389 million from US$121 million a year earlier. The operator deployed more than 920 new sites – its highest first-quarter rollout on record – and expanded its fibre network to 82,100km as it seeks to improve network quality and capacity ahead of future demand.

CEO Sunil Taldar said the company had made a strong start to the financial year, with customer growth accelerating across all business segments.

He added that continued investment in the network, combined with greater use of AI and digital technologies to improve customer experience, had supported rising smartphone adoption and data consumption across its markets.

Taldar also confirmed that Airtel Africa continues to target London as the preferred listing venue for Airtel Money later this year, saying the move would provide access to international investors while helping unlock the long-term value of the fintech business.

News

Applicants must provide a compelling element of matched funding to be eligible.

This week the UK Space Agency unveiled a £42 million grant call aimed at driving innovation in satellite communications and positioning the UK as a primary supplier for global low Earth orbit (LEO) constellations.

Managed through the Department for Science, Innovation and Technology (DSIT), the third call targets key high-volume constellation technologies, including optical links, active antennas, regenerative processing, and advanced user terminals.

The agency plans to award grants ranging between £4 million and £25 million per project, with all successful applicants required to provide matched industry funding.

The first stage of applications closes on 7 September 2026, with final outcomes to be notified by December.

Some AI tools assisted in the crafting of this report.