Vodacom increased revenues in South Africa despite recording a decline in subscriber numbers between October and December 2022.
Vodacom South Africa reported higher quarterly revenues despite lower subscriber numbers for its third-quarter results on Tuesday.
“Summer campaign customers were rewarded with Vodabucks by completing personalised goals such as recharging, buying bundles or paying their bills,” Vodacom said regarding its service revenue growth.“New services such as financial and digital services, fixed and IoT were up 9.9% and contributed R2.3 billion, or 15.0% of South Africa’s service revenue,” stated Vodacom.
Mobile prepaid revenue growth accelerated to 3.7% from 2.7% in the second quarter, and prepaid average revenue per user of R61 was up 7.0%. “Our Airtime Advance product remained a key contributor to financial services revenue, and posted a pleasing acceleration in the third quarter. We advanced R3.4 billion in airtime, amounting to 45.1% of total prepaid recharges.”“Fixed service revenue was up 10.7%, excluding wholesale transit,” Vodacom reported.
Vodacom’s normalised growth calculations adjust for foreign currency fluctuation and exclude the impact of mergers, acquisitions, and disposal activities.
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