Vodacom reports a significant increase in mobile money transactions, processing an average of US$1.2 billion daily. The company highlights its financial services arm as a key revenue driver, with contributions of R3.6 billion in the quarter ended December 2024. South Africa and Egypt stand out as strong fintech markets, while the international business experienced growth driven by M-Pesa in Tanzania and Lesotho. Vodacom emphasizes its focus on expanding 'advanced financial services' and leveraging 'super apps' like VodaPay and M-Pesa to further boost its fintech strategy.
said on Monday that it’s processing US$1.2-billion on average every day in mobile money transactions.
Indeed, Vodacom reported that its financial services arm contributed R3.6-billion of the R39.5-billion total group revenue for the quarter.“Our financial services business, a clear strategic priority for the group and the largest contributor beyond mobile, has seen the value of mobile money transactions facilitated by our platforms increase 19.1% in US dollars,” said Vodacom Group CEO Shameel Joosub.
South Africa and Egypt were among the group’s best-performing fintech markets, with South Africa contributing R889-million – up 9.9% year on year – and Egypt contributing R581-million . The international fintech business grew revenue by 10.2% year on year on a normalised basis to R2.2-billion, largely driven by M-Pesa growth in Tanzania and Lesotho.
Rival MTN Group has followed a similar strategy, and the results from its fintech arm are also showing positive outcomes.
FINTECH MOBILE MONEY VODACOM AFRICA FINANCIAL SERVICES
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