Vodacom Group has reported a significant increase in service revenue in the first quarter of its 2023/2024 financial year , owing to its acquisition of Vodafone Egypt.
While the Egypt business has more customers than South Africa, it contributed significantly less service revenue than Vodacom’s home turf. Vodacom emphasised the growth came despite macroeconomic challenges associated with inflation and load-shedding. However, the government contract for mobile services partially offset the impact of the price increase, resulting in a modest mobile contract average revenue per user increase of just 2% to R300.Prepaid customers surged to 38.1 million, an increase of 536,000.
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