Sale of Shares Agreement -- Vodacom Lesotho and Sekhametsi Investment Consortium

On Wednesday the 29th November 2000 the sale of shares agreement for divestiture of shareholding in Vodacom Lesotho to Sekhametsi Investment Cosortium was concluded. Sekhametsi Investment Consortium consists of 12  companies and 171 individuals. The amount of shares sold equal 12% and were sold at Maloti 5,390, 000.

VCL has about 19,000 subscribers and has been enjoying the exclusive rights of provision of cellular phones. In the early part of 2001 another cellular operator will be introduced.