Service revenue for Vodacom South Africa increased by 2.3 per cent over the year, supported by an increase in data elasticity and usage following out-of-bundle rate cuts and the implementation of the End-User Subscriber Services Charter (EUSSC)
The company said contract customer revenue was up 19 per cent and business customers were up 12.8 per cent.
Vodacom has also recorded a 12.5 per cent increase in service revenue across the globe. This is due to additional four million new users, increased mobile money transfer demand and increased data users. As a result, the company recorded high group service revenue of five per cent and group revenue of 90.7bn, a high of 4.8 per cent.
“The past year has been characterised by strong customer growth - we now connect 116 million customers across the group, including Safaricom – and the benefits of prudent portfolio diversification,” Group CEO Shameel Joosub said.
The board declared a final dividend of 405 South African cents a share, up from 795 cents a year earlier, taking the total payout for the year to 845 cents a share.
The investment in Safaricom, the second largest Telco in Africa by market capitalisation after Vodacom, delivered a 30.4 per cent boost in this associate’s profits, with growth boosted by currency factors and the inclusion of the new M-Pesa joint venture.
Significant network and infrastructure investments, accelerated pricing transformation and an underlying 17.2 per cent increase in M-Pesa revenues all contributed to the success of Safaricom.
