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Vodacom reports growth in revenue, subscriber base

JOHANNESBURG – VODACOM has reported a 7,7 percent growth in revenue to R53,7 billion (US$3,1 billion) for the six months ended September 30.

It attracted an additional 3 million customers in the period.

This culminates in the South African-headquartered firm now serving 132,6 million customers across its footprint.

Shameel Joosub, Vodacom Group Chief Executive Officer, said this was achieved despite ongoing financial market volatility and weaker prospects for the global economy.

“The war in Ukraine, which followed hard on the heels of a global health crisis, continues to result in increased inflationary pressures and elevated living costs in many countries across the world, including markets where Vodacom operates,” Joosub said.

He said Vodacom had attempted to absorb considerable inflationary costs from the dramatic increase in energy costs as far as possible.

In South Africa, the company invested R5,8 billion in its network – the most in a six-month period – to further enhance the customer experience at a time when the country experienced record levels of power outages.

In the past two years, Vodacom has invested over R2 billion in batteries alone to enhance the resilience of its network during extended periods of load shedding.

– CAJ News

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