Vodacom Tanzania Reports Strong Numbers in M-Pesa and Mobile Data Revenue
In the recently released company’s annual integrated report, Vodacom Tanzania has reported a TZS 356.8 Billion in M-Pesa revenue and TZS 186.9 Billion in its mobile data revenue. Several of the company’s top executives commented on the extraordinary feat.
“Vodacom’s response to the pandemic, and the comparative strength of its financial performance in the context of significant pricing and regulatory pressures, is testament to its carefully considered and well-executed strategy. In delivering on its strategy, the company has implemented numerous measures to ensure the safety and well-being of its employees and contractors, and to keep individuals, communities, businesses, and governments connected by maintaining the quality and stability of its network.”
Justice (Rtd) Thomas Mihayo, Chairman of the Board of Directors, Vodacom Tanzania
“From a financial perspective, revenue and profitability were adversely impacted by the barring of services to 2.9 million SIM cards late in the previous financial year and an associated step up in competitive intensity. In addition, subdued economic activity, due to the health crisis, dampened customer spend. While these factors contributed to a 5.7% decline in service revenue, there was a notable improvement in service revenue growth in second half of the year, largely supported by growth in data and M-Pesa revenue.”
Hisham Hendi, Managing Director, Vodacom Tanzania
“For the potential societal contribution of business to be fully realised in Tanzania, it is important that we align with government and regulators on purposeful outcomes and foster a relationship of mutual trust and respect. To accelerate these outcomes, we need to find ways to strengthen the dialogue and address potential misalignment between government, regulators and business.
On behalf of the Board, I would like to thank Hisham Hendi who under his leadership, Vodacom continued to lead the industry in implementing a digital strategy that has accelerated the country’s financial inclusion through innovative mobile financial services, and for being a driving force in successful investment in universal access for millions of Tanzanians who had previously been unconnected. I wish Hisham and his family every success in their new ventures.”
Justice (Rtd) Thomas Mihayo, Chairman of the Board of Directors, Vodacom Tanzania
