South African wi-fi community supplier Vodacom mentioned the corporate’s VodaPay app, which debuted in October, is the centerpiece of its quarterly progress for the three months ending Dec. 31, which noticed its income leap 12.5% to 2 billion South African rand (about $131 million), based on a Tuesday (Feb. 1) press release.
Monetary companies stays a precedence for Vodacom, the discharge acknowledged.
“The group stays dedicated to specializing in the financial restoration in markets the place we function by the execution of a purpose-led six-point plan,” mentioned Vodacom Group CEO Shameel Joosub within the launch. “This plan contains increasing community protection and resilience, accelerating assist to governments, enhancing digital accessibility and digital adoption, supporting our prospects as they adapt to new methods of working and selling monetary inclusion.”
VodaPay has been downloaded 1.4 million occasions since its debut in October and it has 1 million registered customers, based on the discharge.
“Our M-Pesa platform, together with Safaricom, continues to scale at a powerful charge with transaction values up 16.1% …,” Joosub mentioned within the launch. “… We see VodaPay as a precursor to M-Pesa’s evolution and additional strengthening our FinTech place throughout our footprint.”
The group’s general income grew 6.4% to 26.7 billion rand (about $1.7 billion) within the quarter, led by the corporate’s service income progress of 5.3% to twenty.7 billion rand (about $1.3 billion) due to the continual demand for connectivity and progress in new companies, together with monetary and digital choices, such because the VodaPay app, the discharge acknowledged.
In April, wi-fi service supplier MTN Group and a consortium headed by Vodafone Group submitted bids for a license in Ethiopia.
Learn extra: MTN, Vodafone Chase Untapped Ethiopian Telecom Market
Safaricom, Kenya’s largest telecommunications firm, mentioned it was bidding on one license collectively with Vodafone.
Ethiopia has greater than 110 million folks, lower than half of whom are telecom subscribers, making it one of many world’s few remaining untouched markets.
