“When you tax mobile money, and it’s an easy one to tax, it does have repercussions,” Vodacom Group CEO Shameel Joosub tells The Africa Report.
On Monday 16 May, the Vodacom Group published its preliminary results for the year ended 31 March 2022 that show:
- South Africa contributed R80.8bn to group revenue, underpinned by sustained demand for connectivity, new services – such as digital, financial products, and Internet of Things – and moderate wholesale revenue.
- Revenue from international operations grew by 0.6% and was negatively affected by the mobile money levies and biometric requirements for users in Tanzania.
- Vodacom added 5.9 million customers while financial services customers, including those of Safaricom, a group associate, increased by 2.9 million to 60.6 million. The group has 129.6 million customers across its geographic footprint, which includes the Democratic Republic
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