What was Vodacom's service revenue growth in the third quarter?

Vodacom Group reported a nearly 13% increase in third-quarter service revenue.

Which regions drove Vodacom's revenue growth?

Growth was primarily driven by strong performance in Egypt and the Democratic Republic of Congo.

How did Vodacom's financial services perform?

The financial services segment saw a 24.7% increase in service revenue, reaching 4.5 billion rand, and Vodacom surpassed 100 million customers.

Home / Business and Economy / Vodacom Revenue Surges on African Growth

Vodacom Revenue Surges on African Growth

4 Feb

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Summary

Vodacom reported a nearly 13% increase in service revenue.
Growth was driven by strong performance in Egypt and DRC.
Financial services saw a 24.7% revenue jump, exceeding milestones.

Vodacom Revenue Surges on African Growth

Vodacom Group announced a significant nearly 13% increase in its third-quarter service revenue, reaching 34.6 billion rand. This performance, ending December 31, was bolstered by robust growth across its African operations. Egypt and the Democratic Republic of Congo were highlighted as particularly strong contributors to this surge.

The financial services division proved to be a major growth driver, recording a 24.7% jump in service revenue to 4.5 billion rand. Vodacom's mobile money platforms processed a substantial $500.7 billion in transaction value over the past year, helping the company exceed 100 million financial services customers.

While South Africa delivered modest but satisfactory revenue growth, Vodacom's international operations saw a 12.6% increase. Egypt alone contributed a remarkable 39% surge, now representing 27.5% of the group's quarterly service revenue. Despite consumer pressures, the South African market inched up by 1.4%, supported by contract revenue.