Vodacom sees revenue gains on the back of Egyptian acquisition - htxt

This growth was led by the acquisition of Vodafone Egypt where Vodacom saw revenue from financial services “more than doubled”. The network operator also saw more data traffic on its network with an increase of 43.2 percent noted thanks to successful summer and Ramadan campaigns.“In South Africa, our R4 billion investment over four years to mitigate the impacts of loadshedding continues to pay dividends.

The big winner for Vodacom Group, however, seems to be its financial services solutions. These includeand M-Pesa which helped revenue increase 46.2 percent. The group also claims that $1 billion is being transacted through its mobile money platforms daily. The firm is also looking to launch its M-Pesa product in Ethiopia following Safaricom being awarded a mobile financial services licence in the region pointing to more growth in this sector and potentially even more revenue gains once the service comes online.

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Vodacom revenue jumps after big acquisitionOn its home turf, Vodacom’s service revenue growth was a much more modest 3.9%.
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