Vodacom Tanzania is poised to distribute 22.3 billion TZS to its equity shareholders, a result of its impressive performance in the financial period ending in March this year.
Following the Annual General Meeting, Retired Judge Thomas Mihayo, Chairman of Vodacom Tanzania, expressed his confidence in the company's resilience, underscored by its consistent year-on-year growth.
Mihayo stated, "Our excellent financial and operational results are a testament to the quality of the Company's purpose-led strategy and its ability to execute a deliberate plan aimed at connecting people to a better future. Despite global socio-economic challenges and a highly competitive market environment, the Company has performed exceptionally well both financially and in maintaining its leading position in terms of market share and customer net promoter score."
Vodacom reported a service revenue of 1,054.8 billion TZS, driven significantly by robust performance in mobile data, a resurgence in M-Pesa, and rapid growth in the fixed segment.
M-Pesa revenue witnessed an 8.4 percent increase, contributing 357.1 billion TZS to Vodacom's revenue. Meanwhile, data revenue surged impressively by 34.2 percent, totaling 273.7 billion TZS.
The company has consistently pursued service enhancement strategies, aligning with the government's goal of expanding communication services to rural areas. Over the past decade, Vodacom erected 302 communication towers to bolster connectivity in underserved regions.
"We have also contributed to economic activities by creating over 150,000 indirect jobs for Tanzanians while promoting agriculture by registering more than 3.1 million farmers in our M-Kulima, which facilitates the digitization of the agriculture chain," Mihayo noted.
Vodacom Tanzania's Managing Director, Mr. Philip Besiimire, who assumed his role last year, commended the quality of the management team and staff, as well as the effective execution of the company's strategy.
Under Besiimire's leadership, Vodacom Tanzania has maintained year-on-year growth in both revenue and customer base. Besiimire remarked, "Our purpose-led strategy is driving positive growth, with strong execution across strategic pillars. We maintain our leadership position in the mobile market with a 30 percent customer market share, witnessing a commendable 8.9 percent growth in our customer base and a significant 15.1 percent increase in data users, laying the groundwork for future success."
Furthermore, Vodacom's flagship product, M-Pesa, played a pivotal role in supporting Tanzania's socio-economic growth. The customer base for M-Pesa increased by 20 percent year-on-year, reaching 8.2 million users. With an expanded M-Pesa portfolio and a steadfast commitment to financial inclusion, the company facilitated transactions worth over 6 trillion TZS and issued one trillion TZS in micro-loans during the year.