Vodacom’s revenue significantly increased during quarter 1 of its financial year due to investment in affordability, customer engagement and increase, upgrades, as well as service network quality.
According to various news sources, due to an increase in customer engagement, a higher service revenue sourced from local business and, “despite a tougher economic environment,” as Chief Executive Shameel Joosub stated, rose in group revenue by 4.2% in the first quarter of its most recent fiscal year. The customer engagement increased by 2.5 million with 1 million out of this attributed to internationally-based clients. This increase in their most recent quarter, ending 30th June 2018, led up to R21. 55 billion compared to the previous quarter which reported up to R20, 65 billion.
The full statement of Joosub read,“ In South Africa, despite a tougher economic environment, we grew service revenue by 4.9 percent, supported by customer growth of 9.5 percent to reach 43.1 million customers.” Vodacom’s strategy that Joosub claimed supported this rise in revenue was inclusive of making data more affordable, growing the amount of 4G users and an increase in the internet of things “by 25,2%”. Vodacom also invested R2 billion during this quarter on upgrades, the quality of service networks and performance in its local sector.
Vodacom continues to be a leading South African company when it comes to mobile and internet services. According to OpenSignal’s latest State of Mobile Network Report, it is the winner when it comes to 3G download speed, 4G, and 3G latency, going neck and neck with MTN when it comes to overall and 4G download speed as well as 4G availability. Its most recent rise in revenue, customer service, and quality are sure to keep it rising even higher in the local and international mobile service, data, and LTE ranks.