Business

Vodacom focuses on strategic areas


DAR ES SALAAM: VODACOM Tanzania has said it focuses on its strategic areas which reflect the ever-evolving business environment its industry and the economy in general.

The telecom said in its financial report for the first six months ending September that it will develop transformative products while expanding customers’ access to its data services and smartphone adoption.

Vodacom Tanzania Managing Director Philip Besiimire said in the statement issued on Tuesday that these are critical ingredients for creating equality in a digital society, where everyone has access to opportunities brought about by technological advancement.

“As we look into the future, we are keenly focused on our strategic areas which reflect the ever-evolving business environment in our industry and the economy in general,” Mr Besiimire said.

Also, the largest telecom in the country said they are also focusing on expanding their reach in the fixed data services space, in both the business, home, and consumer segments. During this period, Vodacom Tanzania posted growth of service revenue by 18.7 per cent on account of successful execution of its strategy.

The mobile network company’s service revenue grew to 602.7bn/- compared to 507.7bn/- in the corresponding period last year.

Advancement in connectivity services and digital lifestyle is likely to drive socialeconomic development for individuals and communities as a whole, including financial inclusion and narrowing of the digital divide. This will in turn drive growth in the overall economy, including growth of our business.

“We remain focused on cost containment in order to achieve stronger profitability and generate value for our shareholders. “We upgrade our mediumterm growth target from ‘midto-high-single digit’ service revenue growth to ‘high-single digit’ service revenue growth, with scope to exceed in the near term and unchanged 13.0 per cent negative 16.0 per cent capital expenditure as a percentage of revenue,” he said.

These medium-term targets assume a stable currency, regulatory, and macroeconomic environment. These targets are on average, over the next three years, excluding spectrum purchases, exceptional items and any merger and acquisition activity.



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