Vodacom Sales Growth Accelerates on Data, Mobile-Money Take-Up

Customers visit a mobile phone store inside the Vodacom World mall, operated by Vodacom Group Ltd., in the Midrand district of Johannesburg, South Africa, on Thursday, Feb. 2, 2017. Vodacom, which is 65 percent owned by Newbury, England-based Vodafone and the South African market leader by subscriber numbers, is expanding its internet offering to offset falling voice revenue.Photographer: Waldo Swiegers/Bloomberg

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By John Bowker

January 31, 2018 at 5:40 AM UTC

This article is for subscribers only.

Vodacom Group Ltd. said third-quarter revenue growth accelerated as Africa’s biggest phone company by market capitalization added customers and boosted sales from mobile-money.

Revenue gained 6.7 percent to 22.6 billion rand ($1.9 billion) in the three months through December, the Johannesburg-based unit of Vodafone Group Plc said in a statement on Wednesday. That compared with 1.2 percent in the same quarter a year earlier. Active subscriber numbers across all markets increased by 13 percent to 73.6 million.