Safaricom of Kenya on Thursday reported group earnings before interest and taxes of KSh65.2-billion , up 54.5% from a year ago.
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Financial services has become a key strategic revenue driver for both Vodacom Group and MTN Group in Africa.
Vodacom Group said it facilitated R8.1-trillion in transactions through its mobile money platforms in the past year.
Sub-Saharan Africans boosted their savings at the fastest pace in more than a decade, according to the World Bank.
How does the remuneration of the CEOs of South Africa’s two biggest telecoms groups compare?
Vodacom Group now has more than 211 million customers on its books and is aiming to reach 260 million clients by 2030.
Vodacom has reported a 19.4% decline in half-year earnings, hurt by start-up costs in Ethiopia and forex losses.
Safaricom wants regulators to consider requiring satellite internet providers to partner with local mobile network operators.
Vodacom Group now processes more than $400-billion in transaction value annually through its mobile wallet offerings.
Vodacom Group’s load shedding woes are extending to other operating markets in Africa and threatening to inflate its costs.