Vodacom nears 11M money subs - Mobile World Live

Vodacom nears 11M money subs

15 NOV 2016

South Africa’s Vodacom saw a 37 per cent surge in H1 revenue from M-Pesa, although the achievement was not thanks to its domestic business.

Tanzania, Mozambique, DRC and Lesotho all fuelled the revenue growth in the first half of FY2016/17 by adding new subscribers.

The four countries added 1.7 million customers, bringing the total number of M-Pesa subscribers to 10.9 million.

Vodacom picked out DRC, where the number of customers doubled, and Mozambique, where 38 per cent of mobile subscribers use M-Pesa, for accolades.

Less happily, the company shuttered the South African version of M-Pesa from 1 July, after disappointing take-up in a market where more rival options exist for users.

Elsewhere, Vodacom is more optimistic about the service, introducing a new M-Pesa platform in Tanzania and DRC. The company said the upgrade offered “significantly improved stability”, so generating more trust from customers.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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