Vodacom South Africa service revenue grew by 2.3 per cent

vodacomService 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.

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