Vodacom, South Africa’s biggest mobile phone operator in terms of subscribers, is making money from its niche business to provide funeral, life and device insurance services.
The mobile phone operator, which is 65%-owned by British mobile giant Vodafone, provides life and funeral insurance. It also provides device insurance services to both contract and prepaid customers in SA.
The company that is valued at R227 billion informed investors on Monday that in generated R612 million from insurance revenue in the year to end-March 2017.
The firm added that insurance revenue climbed 12.4% to R612 million and insurance policies rose 28.5% to 1.1 million in the year to end-March 2017.