Vodacom full-year sales up 4.5%
South Africa’s largest telcos, Vodacom, reported a 3.4 per cent increase in full year headline earnings per share a service revenue rose. It added 5.9 million customers in the period, taking its total customer base to 129.6 million. Joining CNBC Africa for more is Shameel Joosub, CEO, Vodacom.
Mon, 16 May 2022 11:12:14 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Vodacom's moderation in revenue and profit growth attributed to the strong comparison from the previous year, exchange rate impact, and mobile money levy in Tanzania.
- Challenges in Tanzania and Ethiopia affect Vodacom's financials, but the company remains optimistic about the future prospects in these markets.
- Financial services identified as a key growth frontier for Vodacom, with impressive revenue growth and expansion across the continent.
Vodacom, one of South Africa's largest telcos, reported a 3.4 per cent increase in full-year headline earnings per share as service revenue rose. The company added 5.9 million customers in the period, taking its total customer base to 129.6 million. Joining CNBC Africa, CEO Shameel Joosub shed light on the company's financial performance and future prospects. Joosub attributed the moderation in revenue and profit growth to a strong comparison from the previous year, which witnessed a surge due to the pandemic-induced shift towards online activities. He highlighted the impact of the strong exchange rate and mobile money levy in Tanzania on the company's financials. Despite challenges, Joosub remains optimistic about Vodacom's future, particularly in Ethiopia and Egypt, where the company is poised for significant growth. The CEO also discussed the potential of financial services as a key growth frontier for the telco, emphasizing the company's impressive financial service platform across the continent. Investors can expect continued growth and value creation in the coming years as Vodacom expands its reach and offerings.