Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      AI-voiced audiobooks are coming to Audible

      13 May 2025

      Stage-2 load shedding back until Thursday

      13 May 2025

      Altron says it expects up to 75% jump in Heps

      13 May 2025

      Shoprite’s Sixty60 app now ‘talks’ to blind users

      13 May 2025

      ISP Cybersmart hit by massive outage

      13 May 2025
    • World

      Vodafone CFO to step down

      7 May 2025

      Lights, camera, tariffs: Trump declares war on foreign flicks

      5 May 2025

      UK to warn companies that cybersecurity must be ‘absolute priority’

      4 May 2025

      BYD sales are skyrocketing

      2 May 2025

      Pichai warns Google Search could be ripped apart

      30 April 2025
    • In-depth

      Social media’s Big Tobacco moment is coming

      13 April 2025

      This is Europe’s shot to emerge from Silicon Valley’s shadow

      10 April 2025

      Microsoft turns 50

      4 April 2025

      World reels from Trump tariff shock

      3 April 2025

      AI agents are here – but are they thinking for us or replacing us?

      12 March 2025
    • TCS

      TCS | Kiaan Pillay on fintech start-up Stitch and its R1-billion funding round

      7 May 2025

      TCS+ | Switchcom and Huawei eKit: networking made easy for SMEs

      6 May 2025

      TCS | How Covid sparked a corporate tug-of-war over Adapt IT

      30 April 2025

      TCS+ | Inside MTN’s big brand overhaul

      11 April 2025

      TCS | How South Africa’s Milkor became a global player in drone innovation

      28 March 2025
    • Opinion

      Solar panic? The truth about SSEG, fines and municipal rules

      14 April 2025

      Data protection must be crypto industry’s top priority

      9 April 2025

      ICT distributors must embrace innovation or risk irrelevance

      9 April 2025

      South Africa unprepared for deepfake chaos

      3 April 2025

      Google: South African media plan threatens investment

      3 April 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SkyWire
      • Solid8 Technologies
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Vodacom turns in a strong first quarter

    Vodacom turns in a strong first quarter

    By Duncan McLeod23 July 2021
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp
    Vodacom Group CEO Shameel Joosub

    Vodacom Group reported a strong 9% advance in revenue in the first quarter of its 2022 financial year, reaching R24.8-billion. If it hadn’t been for rand strength, the figure would have been 14.2%.

    Normalised group service revenue growth was 7.8% as international (non-South African) growth accelerated, while South African service revenue was up 5.2% to R14.1-billion, “reflecting sustained demand for connectivity services and strong growth in new services”.

    However, the strong rand impacted international service revenue, which fell 6.3% to R5.3-billion.

    Since the beginning of the quarter, South Africans have benefitted from a further 14% price reduction in the 1GB, 30-day data bundle

    Mobile money platform M-Pesa performed well, showing normalised growth of 13.5%. Group financial services revenue, excluding Safaricom, contributed 9.8% of consolidated services revenue and grew 33.9% on a normalised basis.

    In South Africa, data price cuts led to increased demand. Group CEO Shameel Joosbu said: “Since the beginning of the quarter, South Africans have benefitted from a further 14% price reduction in the 1GB, 30-day data bundle, marking a cumulative 43% cut since April 2020.”

    Capex

    Capital expenditure in the quarter came it at a relatively high R2.9-billion “to support network capacity and resilience”.

    “A combination of greater value and an enhanced customer experience supported sustained demand for connectivity as customers continued to work, entertain and educate from home,” said Joosub.

    Vodacom Business’s revenue was up 14.1%, reflecting growing demand for connectivity and the integration of new digital service offerings. Financial services in South Africa remained a “strong performer”, delivering revenue growth of 19.1%, Vodacom said.

    “Our international portfolio delivered normalised service revenue growth of 13.5%, marking a meaningful recovery from the prior financial year. The performance was supported by M-Pesa revenue growth, up 43.2% on a normalised basis, which benefited from the increased customer base, higher platform usage and the reinstatement of person-to-person M-Pesa transaction fees.”

    Turning to last week’s violent unrest in KwaZulu-Natal and parts of Gauteng, Vodacom said the financial impact of damage to its infrastructure “was not material”.  — © 2021 NewsCentral Media



    M-Pesa Safaricom Shameel Joosub top Vodacom
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleUnion urges action to protect Transnet after ‘cyberattack’
    Next Article Vodafone gives thought to spinning off M-Pesa

    Related Posts

    Meet the CIO | Schalk Visser on Cell C’s big tech pivot

    13 May 2025

    MTN to sell 4G smartphones for as little as R99

    5 May 2025

    Blue Label beats Naspers, Vodacom to lead JSE tech rankings

    5 May 2025
    Company News

    Kemtek’s secret weapon? Smarter aftersales service

    13 May 2025

    Say goodbye to capex: the rise of connected module-as-a-service in IoT

    13 May 2025

    Immersion cooling: the right solution for your data centre?

    13 May 2025
    Opinion

    Solar panic? The truth about SSEG, fines and municipal rules

    14 April 2025

    Data protection must be crypto industry’s top priority

    9 April 2025

    ICT distributors must embrace innovation or risk irrelevance

    9 April 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.