(Ecofin Agency) - The South African branch of the Vodacom group has become a standalone company with a new Managing Director in the person of Balesh Sharma.

According to a statement released on May 21 by Vodacom, the decision is aimed at enabling the now independent company to continue to play a central role in the supervision of all its operations in Africa. It is the outcome of a major restructuring of the group's activities across the continent.

Shameel Joosub, CEO of Vodacom, said the restructuring is aimed at putting in place the structures necessary to help his organization become a leader in the technology, financial and digital services sector in Africa. As part of this strategy, new decisions are expected in the coming days to diversify the company’s sources of income.