Shameel Joosub, Vodacom Group CEO.

Vodafone Egypt contributed significantly to Vodacom Group’s revenue in the quarter ended in June.

Vodacom reported performance for the quarter, saying group revenue increased 36.9% to $1.98 billion (R35.7bn), boosted by Vodafone Egypt.

In the period, Vodafone Egypt's revenue from financial services more than doubled, and data surged by 43.2% due to successful Ramadan and summer campaigns.

Vodafone Egypt is the largest mobile network operator in the country, with a 43% market share.

The telco closed the quarter with 46 million consumer and enterprise customers. The company is also a broad mobile wallet provider through Vodafone Cash.

In the current reporting period, Vodafone Egypt delivered service revenue of $377 million (R6.8bn), contributing 23.6% of Vodacom Group's service revenue.

Service revenue was up 27.6% in local currency, accelerating from the prior quarter (25.8%) despite a challenging macro backdrop, said Shameel Joosub, Vodacom Group CEO.

He continued: “The result was supported by strong growth in data revenue and customer engagement associated with the ‘Shokran’ Ramadan campaign, launch of the summer campaign and enhanced content integration.

“Growth was also supported by financial services, namely Vodafone Cash, and fixed line services.”

Data and financial services metrics were also strong in the quarter.

Joosub commented: “Data traffic was up 43.2%, with data customers growing

10.3% to 27.1 million. Smart devices on our network were up by 49.2% to 31.7 million.

“Growing financial services is a priority for the Group and Vodafone Egypt. Financial services revenue for Vodafone Egypt was $20 million (R369m) for the quarter and more than doubling in local currency. Financial services contributed 5.4% of service revenue.

“Vodafone Egypt financial services customers reached 5.9 million in the quarter, up 49.8%.

“Capital investment for the quarter amounted to R1.2 billion, up 58.5% in local currency, as the phasing of investment for the financial year was accelerated to support strong data demand.”