Vodacom Service Revenue Jumps Nearly 13% In Q3 On Africa Growth, Led By Egypt And DRC
Quidah is an online platform that connects investors with curated opportunities and expert insights on Africa’s emerging markets, while offering businesses promotional services, partnership facilitation, and market intelligence to attract capital and grow their operations.
Industries
Group service revenue climbed to 34.6 billion rand ($2.17 billion) for the three months ended December 31, with normalised growth of 13.6% “tracking favourably against our medium‑term target,” the company said.
CEO Shameel Joosub highlighted sustained growth in Egypt and international operations, including a strong showing in DRC, while South Africa delivered modest revenue gains against a tough prior‑year comparison.
Financial services remained a standout, with service revenue surging 24.7% to 4.5 billion rand; mobile money platforms, including Kenya’s Safaricom, processed $500.7 billion in transaction value over the past 12 months and surpassed 100 million customers.
In South Africa, service revenue edged up 1.4% to 16.4 billion rand despite a challenging consumer environment, driven by a 2.6% increase in contract revenue, though prepaid remained under pressure from promotions and economic headwinds.
International operations saw service revenue grow 12.6%, with Egypt leading at a 39% surge that now accounts for 27.5% of group service revenue.
Vodacom is majority‑owned by Britain’s Vodafone.
