Browsing: telecommunication firms in East Africa

Vodacom Tanzania has posted a strong full year results driven by Data and M-Pesa services.

In its preliminary results for the year ended 31 March 2019. The company achieved a 5.4 per cent growth in service revenue, reaching TZS1,018.9 billion ($443.389 million), driven by strong growth in M-Pesa, mobile data and messaging revenue demonstrating its ambition to pioneer inclusive growth through financial inclusion and connectivity.

According to a statement from Vodacom, the firm maintained market leadership as the number 1 mobile and financial service operator in Tanzania with 14.1 million customers- a growth of 9.6 per cent, increasing its market share to 32.4 per cent. Leadership in mobile money grew to 38.6 per cent reaching 7 million M-Pesa users transacting over TZS4.1 trillion ($1.784 billion) monthly.

Vodacom’s Managing Director, Hisham Hendi said, “The M-Pesa platform continues to open up opportunities for Tanzanians to earn a living registering 620,000 new customers, …