Vodacom Tanzania posts 170bn/- net profit

VODACOM Tanzania has registered net profit of 170.2bn/- for the period ended March this year from 47.5bn/- in 2017 representing 200 per cent change on account of strong revenue growth from mobile data and M-Pesa businesses.
 
The company’s preliminary results for the year ending March 2018 published yesterday, M-Pesa revenue grew by 16.7 per cent to 291.2bn/- equivalent to 30.1 per cent due to greater customer spend across growing mobile ecosystem.

Similarly, the Dar es Salaam Stock Exchange (DSE) listed Vodacom Tanzania’s mobile data revenue grew by 34 per cent to 141.6bn/- on account of network densification, capacity upgrade and 4G expansion.

“We believe our M-Pesa customer base will continue to expand as we focus on building greater activity through our ‘Lipa kwa M-Pesa’ merchant platform and establishing new partnership which enhances the mobile money ecosystem,” Ian Ferrao, Vodacom Managing Director said in a statement.

He added, “We expect further increases in smartphone penetration, stimulated by the continuation of partnership-led, low-cost smartphone campaigns.

” Expanding network’s capacity through spectrum acquisition is a core component of Vodacom’s long term strategy. The company will therefore seek to obtain the optimal amount of spectrum available from the upcoming 700 MHz auction at a reasonable cost.

“Our actions taken as part of our continued commitment to improving compliance with customer registration requirements will result in subdued base growth over the short term,” he said.

However, encouraging trends seen from the adoption of personalised offers is expected to offset churn through building customer loyalty within our registered customer base.

Also during the year under review, operating and financial review service revenue grew 5.9 per cent to 966.3bn/-, attesting its success in delivering superior data user experience and mobile money ecosystem to our customers.

Strong fundamental growth was seen throughout the year, however a 42.1 per cent mobile termination rate (‘MTR’) reduction, made in the final quarter, dampened service revenue growth acceleration. Active customers increased 1.9 per cent to 12.9 million.

Lower customer base growth resulted from actions taken towards improving compliance with customer registration requirements which, when coupled with enhanced registration processes, significantly reduced the risk of receiving additional compliance orders.

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