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Vodacom Tanzania is set to pay TSh 22.3 billion to its equity shareholders for the financial period ending March this year following an impressive performance. The excellent financial and operational results are a testament to the quality of the Company’s purpose-led strategy and its ability to execute a deliberate plan aimed at connecting people to a better future, stated Thomas Mihayo Vodacom Tanzania’s Chairman.
Vodacom Tanzania is set to pay TSh 22.3 billion to its equity shareholders for the financial period ending March this year following an impressive performance. The excellent financial and operational results are a testament to the quality of the Company’s purpose-led strategy and its ability to execute a deliberate plan aimed at connecting people to a better future, stated Thomas Mihayo Vodacom Tanzania’s Chairman.
Despite global socioeconomic turbulence and a highly competitive market environment, the Company performed well financially and maintained its leading position in terms of market share and customer net promoter score. Vodacom recorded service revenue of TSh 1054.8 billion which was largely driven by a strong result from mobile data, a recovery in M-Pesa, and accelerating fixed growth.
M-Pesa revenue grew by 8.4 per cent to bring in 357.1bn/- to Vodacom revenue coffers while data revenue grew by an impressive 34.2 per cent raking in a total of 273.7bn/-.
The company has continued with its service improvement strategies, supporting the government’s efforts to expand communication services to rural areas by erecting 302 towers over the past decade. Vodacom also contributed to economic activities by creating over 150,000 indirect jobs for Tanzanians while promoting agriculture by registering more than 3.1 million farmers in ‘M-Kulima’ which facilitates the digitization of the agriculture chain.
Vodacom maintains its leadership position in the mobile market with 30 per cent customer market share witnessing a commendable 8.9 per cent growth in customer base and a significant 15.1 per cent increase in data users, laying the groundwork for future success.
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Vodacom’s M-Pesa has played an instrumental role in supporting Tanzania’s socio-economic growth, with our customer base increasing by 20 per cent YoY to 8.2 million. With an expansion of our M-Pesa portfolio and our ongoing commitment to financial inclusion, we have facilitated transactions worth over 6tri/- and issued a trillion in micro-loans during the year.
