Vodacom Business service revenue rose by 11.3% to R15.9 billion in the year to end-March 2021, supported by innovative work-from-home solutions.
Vodacom announced today that fixed service revenue grew by 6.5%, excluding wholesale transit, supported by strong growth in cloud and hosting and connectivity revenue.
The Vodafone-owned company added that Internet of Things (IoT) connections grew by 6.4% to 5.6 million, with revenue growth at 32.8% to R1.1 billion.
The telco added that mobile contract customer revenue increased by 5% to R20.8 billion, a resilient performance given the economic backdrop.
“Within the mobile contract segment, Vodacom Business continued to deliver growth in the fourth quarter while consumer contract revenue remained broadly unchanged year-on-year,” the company said.
Vodacom Business is led by William Mzimba, who took over the hot seat in May 2018.
Vodacom said its business unit also recorded positive contract customer net additions of 133 000 in the year while ARPU increased by 2.1% (adjusted growth 1.4%1 ) and 7% (adjusted growth 3.1%1 ) the year and the fourth quarter, respectively.
“We see significant opportunities ahead, in both our Consumer and Vodacom Business segments, across digital and financial services, as we enhance our existing AI capabilities and real-time management information systems with our landmark Alipay agreement,” said Shameel Joosub, Vodacom’s CEO.