Vodacom has reported group revenue of R24,8-billion for the quarter ended 30 June 2021, up 9% from the corresponding period last year.
Normalised group service revenue growth was 7,8%, with international growth accelerating. South Africa service revenue was up 5,2% to R14,1-billion.
The group experiences strong M-Pesa revenue, which supported normalised growth of 13,5% for international markets, although service revenue of R5,3-billion declined by 6,3% as a result of currency translation.
Group financial services revenue, excluding Safaricom, contributed 9,8% of consolidated services revenue and grew 33,9% on a normalised basis.
Shameel Joosub, Vodacom Group CEO, comments: “The first quarter of the financial year was characterised by two significant milestones that support the Group’s geographic and revenue diversification.
“In May 2021, a consortium led by Safaricom PLC was awarded a mobile telecommunications licence by the Government of Ethiopia, following a fiercely contested international bidding process. Vodacom is honoured to be part of this powerful consortium that will provide world-class services to Africa’s second most populous country.
“Separately, in June 2021, we announced that more than 70 merchants had joined our VodaPay ecosystem ahead of the highly anticipated launch of our South African super-app in the coming months. VodaPay is expected to support greater digital and financial inclusion, which is core to our purpose-led strategy.”