Vodacom’s Global Markets Achieve Improved Quarterly Results
Vodacom has announced that strong growth in data and M-Pesa revenues have bolstered the performance of its international operations and caused the company to secure a service revenue growth of 9.0% (including Safaricom subscribers as at 30 September 2019).
According to its latest trading report for the quarter that ended on 31 December 2019, the overall Group revenue is up by 6.6% and is supported by the Group service revenue growth of 5.7%.
Vodacom also said that its Summer campaign helped the mobile operator attract 484 000 subscribers in South Africa. It also gained over 1.7 million subscribers in its international operations.
Shameel Joosub, Vodacom’s Group CEO, said that the company’s financial services business had helped drive service revenue up by roughly 4.6% in South Africa despite an unsteady economy.
The CEO added that he is particularly happy with the consistency in the performance of Vodacom’s international portfolio, which achieved solid results and ultimately a 9% growth in service revenue. He revealed that Vodacom’s operations outside of South Africa now contribute more than 40%1 to the group’s service revenue.
According to an official statement, Vodacom expects to roll out 5G in South Africa in 2020; however, it is currently benefiting from the value of its roaming deal with Rain and Liquid Telecom.
Credit: This article originated from www.itwebafrica.com