Johannesburg- Vodacom’s latest fintech offering, VodaPay was well received by consumers with more than 1 million people have downloaded it in a space of three months.
The telecommunications giant said financial services remains a clear strategic priority for the group.
”This is evidenced by the 12.5% increase in financial services revenue to breach the R2 billion mark for the first time in a quarter. Our M-Pesa platform, including Safaricom, continues to scale at an impressive rate with transaction values up 16.1% to exceed R430 billion per month.”
“In South Africa, the launch of our VodaPay super-app in October last year has exceeded our expectations by attracting 1.4 million downloads and 1.0 million registered users in its first three months. We see VodaPay as a precursor to M-Pesa’s evolution and further strengthening our fintech position across our footprint,” Shameel Joosub, Vodacom Group CEO said.
The group registered impressive growth across all its business units in the quarter ended December. Group revenue grew 6.4% to R26.7 billion on the back of service revenue which went up 5.3% in the quarter.
Joosub said: “Looking ahead, we are encouraged by the post-Covid-19 recovery taking place in many of the markets in which we operate and look forward to making meaningful contributions to foster economic development.”
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