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- Building Kenya’s tourism competitiveness in Africa
- Uganda Securities Exchange creates new window for SMEs’ capital mobilisation
- Indian Ocean safety stamp to boost Kenya imports savings
- Nigeria’s capital market positive US dollar returns in September
- South Africa’s manufacturing grew 2.9% in September
- Costs of farm inputs still a headache for Africa
- Beekeeping in Tanzania, adopting modern agriculture technologies
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 …
Vodacom Financial Services has introduced a new product called VodaLend Cash Advance, which provides customers with fast and safe access to money when they need it most urgently.
The VodaLend Cash Advance is the most recent addition to the suite of financial services offered by VodaLend, which also includes the VodaLend Compare service, the Voucher Advance service, and the Airtime Advance service.
- Vodacom Financial Services established VodaLend Cash Advance to enable consumers fast, secure access to cash
- This new feature is geared toward unbanked consumers who require quick and hassle-free access to funds for various reasons
- The financial services are exclusively offered to Vodacom customers through the VodaPay super app
This new feature is geared toward unbanked consumers who require quick and hassle-free access to funds for various reasons, such as an unexpected trip to the doctor or topping off a pre-paid electricity account just before payday.
The financial services …
- The coronavirus pandemic helped pushed digital migration in Africa
- Mobile money transfers increase the ease of doing business
- Security issues arise with the spread of mobile money services
The simple answer is yes. While the digital migration was already underway across the continent but with forced lockdowns and social distancing requirements in play, the adoption of digital practices for governing and doing business moved from a plausible option to a compulsory solution.
This was more so true in the use of online platforms for government and business meetings. For the first time, world leaders were forced to hold their high-level meetings in front of computer screens and not in fancy hotels; the era of virtual boardrooms had taken root.
The next most affected area was financial transactions, African financial institutions quickly went cashless in an effort to slow the spread of the virus through the transfer of cash.
In this …
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, …
South African regulators have put on notice Communications companies in country who are charging unbearable prices for mobile data, this is after South Africa was ranked 136th worldwide for its mobile data pricing this year in a study that was conducted based on the cost of 1 gigabyte (1GB) of mobile data.
The research was conducted by Cable.co.uk between the month of December 8, 2020 and February 25, 2021, with 6 148 mobile data plans in 230 countries gathered and analyzed.
South Africa’s data costs an average of $2.67 (R38.93) for 1GB of data from a sample of 60 plans measured on February, 25. The study found the cheapest data cost $0.12, while the most expensive was $34.95.
Data prices are keenly looked at by South African consumers after the Competition Commission found South Africa’s major mobile providers, Vodacom, Telkom, MTN, and Cell C, were charging too much for mobile …
The Tanzania Revenue Authority (TRA) has won a USD 1.3 million (3bn/-) case against Vodacom Tanzania dating back almost two decades ago. Tanzania’s Court of Appeal delivered a ruling last week in which it rejected Vodacom’s appeal of TRA’s tax audit dating back to a three year period between 2001-2004.
Local media reported at the start of the week that, “…TRA, the respondent, conducted tax audit in respect of the appellant’s business affairs for the period covering the year 2001 to 2004.”
The findings of this audit were that Vodacom Tanzania was withholding tax and penalties related to services and royalty for use of software acquired from Siemens Telecommunications (PTY) Ltd.
“On November 10, 2006 the respondent served the appellant with preliminary audit findings…” in turn, on April 24, 2007, Vodacom Tanzania issued its own revised audit findings which TRA did not accept as correct.
The following year, on August …
A new mega cable capable of carrying extensive data across Africa has been announced. China Mobile International, Facebook, MTN GlobalConnect, Orange, stc, Telecom Egypt, Vodacom, Vodafone and WIOCC have announced that they will partner to build 2Africa.
This is expected to be the most comprehensive subsea cable to serve the African continent and Middle East region. The parties have appointed Alcatel Submarine Networks (“ASN”) to build the cable in a fully funded project which will greatly enhance connectivity across Africa and the Middle East.
At 37,000km long, 2Africa will be one of the world’s largest subsea cable projects and will interconnect Europe (eastward via Egypt), the Middle East (via Saudi Arabia), and 21 landings in 16 countries in Africa. The system is expected to go live in 2023/4, delivering more than the total combined capacity of all subsea cables serving Africa today, with a design capacity of up to 180Tbps …
Pan African private equity company Convergence Partners has announced that it has acquired all the operations of telecommunication giant Vodacom Business Africa through its digital service provider platform, inq. Holdings Limited (formerly Synergy Communications) based in Mauritius.
Vodacom Business Africa is an enterprise-focused ICT subsidiary of the Vodacom Group. With over US$300mn of capital under management, Convergence Partners brings its skills, experience and capital to develop new investment opportunities as well as actively adding value to investments across the lifecycle of ICT assets.
The 100% acquisition of Vodacom Business Africa’s operations will be effected in Nigeria, Zambia and Cote d’Ivoire with a further planned acquisition in Cameroon pending regulatory approvals.
This transaction grows inq.’s regional footprint as a leading enterprise solutions provider to 13 cities in 7 countries across Africa including its existing operations in Botswana, Malawi and Mozambique.
Under the inq. banner the company will embark on the next …
Tanzania, one of East Africa’s largest economy is executing a phase-based sim cards shutdown across the country, following the set deadline of biometric sim card registration.
The procedure comes at hard times when, only 28.4 million sim cards have been registered by January 19, while Tanzanian Communications Regulatory Authority (TCRA) statistics show 48.8 million active sim cards are active in Tanzania.
In a nation with more than 55 million people, mobile services have become the most pervasive communications platform in Tanzania; by 2007, over 5 million people, representing a 10th of the population, subscribed to a mobile service. Hence—the 2019 GSM report on Digital Transformation in Tanzania, showed that today, the number of unique mobile subscribers has grown five-fold to 25.2 million.
This means that Tanzania’s current sim card lock could lose a significant portion of the tax and cripple money transfer income to mobile money agents and services …
Tigo, Tanzania has unveiled a new package, allowing its customers to call across networks at the same tariff.
The package dubbed “Ujanja Ni” is expected to increase its customer base by stiffening competition witin the telecommunication sector in the country.
According to a statement from Tigo, the package offers absolute freedom to call any network at the same tariff, and customers purchase the voice, and data packages at affordable and competitive prices.
Tanzania Communications Regulations Authority (TCRA) September 2019 quarterly statistics, put Tigo Tanzania with 26.1 per cent of the subscription market share, at the height of voice consumption along-side other telco giants Vodacom and Airtel Tanzania.
The launching of the service adds up on the Tanzanian government’s efforts in ensuring that making calls across all networks in Tanzania is affordable and gives customers the assurance to enjoy a better internet experience on the biggest 4G+ network in the country.…