VENTURES-AFRICA – Revenues of Vodacom, the JSE-listed mobile phone operator, moved up 4.3 percent to R18.3 billion ($1.7 billion) in the quarter to June this year, group CEO, Shameel Joosub, said on Thursday.
“The entire business is seeing the benefit of our sustained investment programme,” Joosub said as the company released its trading update for the quarter under review.
Service revenue of international business soared 17.3 percent and the customer base surged 21.7 percent in the quarter ended June.
The contribution of the international operations to the entire group service revenue soared 23.4 percent.
Data remained a critical growth driver with the number of active data customers surging 69.5 percent during the period under review.
Mobile data revenue, including M-Pesa, soared 51.1 percent, increasing the number of M-Pesa customers to over 6.6 million.
“We increased the number of 3G sites in our international operations by more than 50 percent,” Joosub said.
Group data revenue surged 23.2 percent to R3.5 billion ($333.2 million). Group active customers surged 15.6 percent to 59.6 million and active data customers soared 36.7 percent to 25.3 million.
Vodacom recently acquired an additional 17.2 percent stake in Vodacom Tanzania for R2.4 billion ($228.4 million). Vodacom Tanzania is the east African country’s 14-year-old leading mobile phone business with 10 million mobile clients. .
This acquisition will increase Vodacom’s total economic interest in Vodacom Tanzania from 65 percent to 82.2 percent, giving it total exposure to Tanzania, a high growth market in the region.