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Browsing: Vodacom Tanzania
Vodacom Tanzania fell Sh103.8 billion short of its second quarter target and the company blames it on what it says is ‘the impact of mobile money transaction levies.’
In its latest annual report, Tanzania’s largest telecom, subscription wise, said compared to the same period last year, its second quarter earnings this year, that Sh956.515 are over one percent lower.
Not only was the income low, but the company had projected much higher earnings this year in excess of Sh1.06 trillion. However, much to the dismay of its investors and stakeholders, the company was almost 10 percent off target in this year’s second quarter earnings.
So what happened, how did the largest telecom company fall so far off its projections? And no in just one area, the company’s annual report concedes that Vodacom suffered drop of revenue in at least four of its top six revenue channels.
Vodacom, the only publicly …
- Mobile money is growing fast in East Africa
- Despite of the pandemic, still mobile money regulators enabled its performance
- Financial technologies are changing the way unbanked populations access finance services
Mobile money is still king in Africa and will be so for long. With more than 548 million (up 12 per cent) registered accounts attached to a 27.4 billion transaction volume worth $490 billion, Africa stands to draw billions from mobile money and transform its economies significantly (GSMA 2021).
Thanks to financial technology (fintech) which has accelerated financial inclusion in sub-Saharan Africa, now more than ever, the unbanked population in rural areas of Africa can access financial services seamlessly, even during the coronavirus pandemic’s harsh times.
Today fintech technologies are challenging traditional financial services, particularly banks in Africa. This has forced banks to adapt to the new game brought by fintech aggregators, including fusing their services to mobile services and
Tanzania is one of the fastest-growing mobile money markets in Africa, but that scenario could change as higher charges on mobile money transactions get introduced.
The change in tariffs is sparking an uproar of customers nationwide. The new levies began on July 14 2021.
Global mobile operator body, GSMA—pointed to Tanzania as a transformative hotbed for mobile, as in 2007 around 5 million people, representing a 10th of the population, were subscribed to a mobile service. That number has grown fivefold today to more than 25 million.
Now in that context, mobile money services have also grown. Tanzania Communications Regulatory Authority (TCRA) points out that, mobile money subscriptions (accounts) are more than 32 million, whereby the market share is dominated by Vodacom’s M-Pesa (42 per cent), Airtel Money (20 per cent) and Tigo Pesa (26 per cent).
Statista—a global business data platform, …
You have a debtor, it is time for them to pay, you pick up your mobile phone dial the number and the most annoying automatic response comes on; ‘Sorry, the number you are calling is not available.’
Upset you hang up and redial, same message, now you are really getting mad, you hang up redial and voilà! You are connected. You exchange a barrage of why are you switching off your phone, they reply no, my phone was on, you finally settle on, it must be bad network!
Well here is some good news, finally the telecomm services watchdog, the Tanzania Communications Regulatory Authority (TCRA) has taken note of this poor service ordeal and taken action.
Six telecoms fined for poor service delivery
Six major mobile phone operators have been slapped fines reaching a grand total of USD16.4 million for what authorities describe as ‘violation …
Tanzania’s leading technology and communication company, Vodacom Tanzania, has partnered with the government, to fortify financial payment systems to 127 local governments offices.
The partnership was witnessed on November 3rd by the Ministry of Regional Administration and Local Government (TAMISEMI) and Vodacom Tanzania Plc, with a clear intention of strengthening payments processes to benefit over 14 million Vodacom customers, when making their duly payments at councils and municipalities across the country.
Vodacom Tanzania, which is listed at the Dar es Salaam Stock Exchange (DSE), has taken a bold move within telecom business parameters, particularly with the present fintech take up and normalization in Tanzania, but also—Vodacom numbers catapulted their chances for the deal, as they are now—having 32.4 per cent of market share and 38.6 per cent of mobile money share, while their service revenue as indicated in its preliminary report (2019) grew to over $442 million, which is a …
Vodacom Tanzania Plc – the leading and fastest mobile data network in Tanzania, has recently paid its equity shareholders $23.7 million in dividends.
The payout, in other words, came out rather delightful, due to salient features from the telecom company’s annual reports, showing a $39.1 million annual (end of the year) net profit increase.
Vodacom Tanzania became the first telecom company in Tanzania to get listed in Tanzania’s stock-exchange (Dar es Salaam Stock Exchange -DSE) on August 15th 2017.
According to Vodacom Tanzania, which has over 14 million subscribers, 32.4 per cent of market share and 38.6 per cent of mobile money share, the respective profit was fetched from a significant increase in service revenue which reached $442.9 million, alleviated by firm growth of mobile money, mobile data and messaging services.
And yet, Vodacom Tanzania preliminary report (2019) show, an increase of 1.2 million customers (9.6 per cent increase), …
Vodacom Tanzania, in a bid to increase its visibility has boosted its support for the premier league.
The sponsorship that $3.91 million over the period of 3 years has seen an agreement signed on August 23, before all premier league’s parties; Tanzania Football Federation (TFF), Premier League Committee and Vodacom-Tanzania, witnessed by Minister of Information, Sports and Culture, Dr. Harrison Mwakyembe.
“Vodacom Premier League” (VPL), is an ebullient league widely known for attracting a diverse range of fans over the past 9 years.
According to Vodacom Tanzania Plc Managing Director, Hisham Hendi, noted the company’s efforts to be at the forefront of supporting development initiatives as well as sports activities in Tanzania.
“We have been sponsoring the premier league for 9 years and have seen the growth of upcoming talent as well as the league itself which commands a following of millions of fans both locally and in neighboring countries,” …
Data and M-pesa transactions accounted for almost 50 per cent of Vodacom Tanzania Plc`s income last year thanks to an over Tshs.170 billion ($73.9 million) investment to expand and modernize the network.
Vodacom`s Finance Director, Jacques Marais said in Dar es Salaam on Tuesday 14th May 2019 during a briefing to investors and the media of the company`s annual results for the year ending March 2019.
Marais said M-pesa remained a leading revenue growth with an increase of 14.5 per cent during the period with seven million customers using the service regularly transacting a record Tshs.49.3 billion ($21.4 million) per month.
`During the year, we added 620,000 new M-pesa customers, a growth of 9.7 per cent M-pesa transaction volumes increased 16.4 per cent and M-pesa values transacted grew 16 per cent,` he said while noting that `Lipa kwa M-pesa` platform had 11,000 merchants who processed Tshs.1.1 trillion ($478.2 million) …
The Vodacom Tanzania CEO, Hisham Hendi and eight co-accused were on 11th April, 2018 released after pleading guilty to the accusations against them and paying Tshs.6 billion ($2.6 million) fine.
On top of the fine paid, the court also confiscated the equipment that was involved in the alleged committed crime.
Vodacom Tanzania later on in the day released a press statement stating the company had agreed with the Director of Public Prosecutions (DPP) to amicably resolve the matter. The statement further read that in accordance with international best practice, Vodacom Group and Vodafone Group Plc have retained the highly respected global law firm, Squire Patton Boggs, to conduct an internal review into the facts underlying the charges brought by the DPP.
Hisham Hendi and six other officials of Vodacom Tanzania were on Wednesday 3rd April arraigned before court for economic sabotage crimes. Mr. Hendi, an Egyptian was charged …