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Vodacom reports modest annual growth

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

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