Vodacom revenue up 6% in SA, R6.5 trillion processed on its mobile money platforms | Business

📆 21/07/2023 21:30:00
📰 News24

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The acquisition of Vodafone Egypt in December last year has enabled the Vodacom Group to report a 37% growth in revenue to R35.7 billion in the quarter ended in June. Normalised and comparable revenue growth was 5.3%. | News24_Business

We now invest more than R11 billion a year into our South Africa infrastructure alone, which has resulted in industry-leading network availability during elevated levels of power outages and ultimately contributed to the 3.9% increase in service revenue in our largest market.

Revenue from new services - primarily financial and digital service - now accounts for almost one-fifth of its total revenue. Financial services remain a"clear strategic priority", increasing its revenue by 46% to surpass the R3 billion mark in a quarter for the first time. Vodacom's mobile money platforms processed $360.6 billion over the last twelve months, up 5.8%. M-Pesa now offers loans and services to merchants throughout its markets in east Africa.

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