Pep and Ackermans, South Africa's leading prepaid phone sales channel, has announced significant growth in its sales of prepaid smartphones, expanding its market share to 7.5 out of every 10 units sold in the country. The company's fintech segment also experienced substantial growth, reflecting its diverse offerings in connectivity, credit, lending, insurance, and informal market services.
Pep and Ackermans, South Africa 's leading prepaid phone sales channel, sold 11.5 million cellular handsets this year, expanding their market share to sell 7.5 out of every 10 prepaid smartphones in the country. According to Pepkor, the company's data from GfK shows that smartphones accounted for 60% of their handset sales, translating to 6.9 million devices, with the remaining 4.6 million being mostly feature phones.
The FoneYam service, designed to make cellphones more affordable, has been a significant contributor, surpassing one million customers recently and exceeding 120,000 monthly activations by the end of September. The company's fintech segment, which includes cellular, grew its revenue by 27% year-on-year to R12.7 billion, with an increase of 129 basis points in gross profit margin to 48%. Operating profit rose by 55% to R1.4 billion. The Flash business, a part of Pepkor's fintech arm, provides mobile vending options to informal market traders and entrepreneurs, enabling them to sell various services and distribute social relief grants. Flash's revenues increased by 20% year-on-year to R8 billion, with operating profit rising by 38% to R617 million, reflecting a seven-year compound annual growth rate of 22%. Total throughput grew by 30% year-on-year to R50 billion
Pep And Ackermans Prepaid Phone Sales Fintech South Africa Smartphone Sales Foneyam Flash Business Informal Market Connectivity Services
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