Vodacom Group grew its revenue 1.5% to R36.2 billion in its first quarter to June 30, but revenue growth of its financial service offerings across Africa was much stronger.
Group service revenue increased 10% on a normalised basis, above a medium-term target. South Africa service revenue grew 1.8%, supported by an improved prepaid performance, the group said in a trading update yesterday.
CEO Shameel Joosub said they celebrated Vodacom's 30th birthday in the first quarter, having signed up its first customer on June 1, 1994, when the network was switched on in South Africa.
Three decades later, the group serves more than 200 million customers across DRC, Ethiopia, Egypt, Kenya, Lesotho, Mozambique, South Africa and Tanzania, a footprint that covers more than half a billion people and is almost 12 times greater than when we launched, he said in a statement.
Egypt grew service revenue 43.7% in local currency, with Egypt financial services revenue up a very strong 87%. International service revenue increased 2.3%, supported by excellent growth in Tanzania.
