Vodacom Tanzania is set to pay 22.3bn/- to its equity shareholders for the financial period ending March this year following an impressive performance.
Speaking to the press after the Annual General Meeting, Vodacom Tanzania’s Chairman, Retired Judge Thomas Mihayo expressed his confidence in the company’s resilience evidenced by its year-on-year growth.
“Our excellent financial and operational results are a testament to the quality of the Company’s purpose-led strategy and its ability to execute a deliberate plan aimed at connecting people to a better future.
Despite global social-economic turbulences and a highly competitive market environment, the Company performed well financially and maintained its leading position in terms of market share and customer net promoter score,”
Vodacom recorded service revenue of 1054.8bn/- which was largely driven by a strong result from mobile data, a recovery in M-Pesa and accelerating fixed growth.
M-Pesa revenue grew by 8.4 per cent to bring in 357.1bn/- to Vodacom revenue coffers while data revenue grew by an impressive 34.2 per cent raking in a total of 273.7bn/-.
The company has continued with its service improvement strategies, supporting the government’s efforts to expand communication services to rural areas by erecting 302 towers over the past decade.
“We have also contributed to economic activities by creating over 150,000 indirect jobs for Tanzanians while promoting agriculture by registering more than 3.1 million farmers in our M-Kulima which facilitates the digitization of the agriculture chain,” he said.
Vodacom Tanzania Managing Director, Mr Philip Besiimire who joined the company last year, says he’s been impressed by the quality of the management team and staff and the strong execution of the strategy.
Under his leadership, the company has maintained a year-on-year growth in both revenue and customers.
“Our purpose-led strategy is driving positive growth, with strong execution across strategic pillars. We maintain our leadership position in the mobile market with 30 per cent customer market share witnessing a commendable 8.9 per cent growth in customer base and a significant 15.1 per cent increase in data users, laying the groundwork for future success.
Additionally, our product M-Pesa has played an instrumental role in supporting Tanzania’s socio-economic growth, with our customer base increasing by 20 per cent YoY to 8.2 million. With an expansion of our M-Pesa portfolio and our ongoing commitment to financial inclusion, we have facilitated transactions worth over 6tri/- and issued a trillion in micro-loans during the year,” said Phillip.