Vodacom reports modest annual growth
by AKANI CHAUKE
JOHANNESBURG – THE Vodacom Group has reported revenue growth of 4,5 percent to R102,7 billion (US$6,3 billion) for the year ended March 31.
The company added 5,9 million customers, to serve a combined 129,6 million customers across the group, including Safaricom on a 100-percent basis.
Group service revenue and operating profit growth of 4,6 percent and 5,4 percent respectively is in line with medium-term targets.
Shameel Joosub, Vodacom Group Chief Executive Officer, said the past year was a watershed one for Vodacom in which it made significant strides in the transition to a pan-African technology company.
This is through the two significant proposed strategic acquisitions announced in November last year and the commercial launch of a consortium in Ethiopia this year.
There is a purchase of a 55 percent stake in Vodafone Egypt.
The proposed acquisition of a strategic stake in Community Investment Ventures Holdings (Proprietary) Limited (CIVH), is to assist in narrowing the digital divide.
It is before South Africa’s regulators for approval.
– CAJ News
