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
Why govt listed Glo, others as top firmsNigeria’s national carrier, Globacom and 99 other top notch firms have been listed as top 100 Firms in Nigeria for the 2014 fiscal year. The top 100 companies list is based on international benchmark set by the International Integrated Reporting Council. Read More
Women can lead 21st century ICT industry, says Zinox chiefWith the right mix of innovation, business focus, accountability and ambition, women entrepreneurs can spearhead the evolution of the ICT industry in the 21st century, says the Chairman, Zinox Group. Read More
Leading through volatility in AfricaFor the businesses that are prepared to face the storm and manage the volatility afflicting the continent, there are still huge rewards to be had from doing business in Africa, says SAP. Read More
American Tower Corporation, Bharti Airtel in Nigerian tower sale agreementAmerican Tower Corporation and Bharti Airtel Limited have entered into a definitive agreement for the sale of over 4,800 of Airtel’s communications towers in Nigeria. Read More
Mobile backlog affects revenuesNew research shows that a slow approach to app development is increasingly damaging revenue opportunities in the enterprise. The study found that organisations are currently struggling with a significant mobile backlog and unable to cope with business demands. Read More
Kenya courts technology to woo investorsKenya, East Africa’s lead economic hub, has stepped up its efforts to woo investors through its rigorous incorporation and adaptation of technology to ease business transactions. Read More
‘Prepare for an explosive year ahead’ - Dac SystemsFrom a technology solution supply and reselling perspective, 2015 is going to be a bumper year, says Dac Systems. Read More
The Business Network is the futureHyper-connected business networks will extend business processes that used to stop at the walls of the enterprise, and will fulfill the promise of the real-time global networked economy to reduce complexity without sacrificing sophisticated work, says SAP. Read More
Africa SME Champions Forum: creating an ecosystem to support African championsThe Africa SME Champions Forum closed in Dakar last week, but its work in support of African champions is only just beginning. Read More
FEATURED STORYGSMA: half a billion mobile subscribers in SSA by 2020
The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.
COMPANY NEWSLeading through volatility in Africa
For the businesses that are prepared to face the storm and manage the volatility afflicting the continent, there are still huge rewards to be had from doing business ...