Robust quarter for Vodacom
BUSINESS| Feb. 8, 2012, 3 p.m.
Vodacom Group’s revenues rose by 12.2% to pass USD2.3 billion, with subscriber figures passing the 52 million mark.
In releasing the group’s results for the quarter ending 31 December 2011 today, Vodacom Group CEO Pieter Uys said: “This was a good quarter for Vodacom, with a record increase in our customers of five million pushing us past the 50 million customer milestone.
Our International operations maintained the positive momentum and accounted for more than 40% of the increase in our total customers. Network investment continued to be a major focus with on-going upgrades to our transmission and radio access networks supporting the 41% increase in Group data customers. Vodacom now delivers data connectivity to nearly 14 million people.”
In the Group’s operations outside of home base South Africa, the quarter saw customers up 30.2% to 21.2 million, adding 2.2 million in the quarter.
In Tanzania, customer growth of 34.1% was supported by promotional offerings and improved distribution. Tanzania also saw strong growth of M-Pesa users, with 2.7 million active users.
Vodacom noted: “The M-Pesa system processed transactions in Tanzania worth more than USD400 million during the month of December alone. M-Pesa now accounts for 8.5% of Tanzania’s service revenue, compared to 3.1% a year ago.”
In that country, The Group said its capital investment in Mozambique, smarter pricing and a specific focus on distribution underpinned a 16.9% increase in customers.
Despite uncertain political conditions during the quarter, the DRC delivered a good performance and also received a boost from the regulated minimum price.
The report added: “While we are encouraged by the strong revenue growth in the quarter, we remain focused on tackling the increased competition in all our geographies and also remain alert to fragile global economic conditions.”
MORE BUSINESS NEWS
Kris Senanu to lead Telkom Kenya Enterprise DivisionTelkom Kenya has announced the appointment of Mr. Kris Senanu as the MD of its Enterprise Division. Read More
Liquid Telecom, RBH to acquire NeotelLiquid Telecom, a privately owned pan-African telecoms group majority owned by Econet Global, has entered into an agreement to acquire South African communications network operator Neotel. Read More
MTN Nigeria gets indigenous Chief Financial OfficerMTN Nigeria has announced the appointment of Adekunle Awobodu as its new Chief Financial Officer (CFO). Read More
Networks Unlimited partners with RubrikNetworks Unlimited has been named as sole distributor of Rubrik converged data management solutions in Africa. Read More
Payroll fraud: a serious threat to your business’s sustainabilityPayroll is one of the largest expenses for Small & Medium Businesses and larger enterprises in West Africa, yet many organisations are neglecting the importance of managing the risk of fraud in this area of the business. Read More
Nigeria goes live with Bsystems Collateral Registry SystemNigeria has become the fourth country to roll onto the Collateral Registry System developed by Ghanaian technology solution firm Bsystems. Read More
Arbitration to support justice, says GlobacomGlobacom Nigeria says its support of the International Chamber of Commerce, (ICC) Africa Regional Arbitration Conference in Lagos is a demonstration of its belief that arbitration would further enhance the cause of justice in the country. Read More
Dimension Data names new group CEODimension Data has announced the appointment of Jason Goodall as Group Chief Executive Officer, as Brett Dawson, current CEO, steps down after 12 years. Read More
Solar developer Phanes Group opens African head office in SAInternational solar energy developer, investment manager and asset manager Phanes Group has launched an office in Johannesburg, South Africa – its first African office. Read More
We’re insulated from Nigeria’s forex problem, says IHSIHS Towers says it has not been hard hit by ongoing foreign exchange (forex) squeeze in Nigeria because it is a foreign direct investment (FDI) vehicle into the country. Read More
FEATURED STORYGovernment should encourage youths in ICT early
Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.
COMPANY NEWSTigo, JI and GES equip teachers on child online protection initiative
Tigo, in partnership with J Initiative (JI), a youth focused non-governmental organisation in Ghana, have committed to protecting children online through policy advocacy, awareness creation, public education ...