The only telecommunication company operating in Tanzania listed on the Dar es Salaam Stock Exchange (DSE) reported Sh507.991 billion in revenues during the period, up from Sh484.981 billion that was registered during a similar period last year.
While M-Pesa remains the major source of money amid a sustained decline in income from mobile voice, it is actually data that has emerged as the fastest growing revenue-generating stream for Vodacom during the period under review.
Mobile data revenue increased 29.9 percent to Sh125.9 billion.
This puts data as the third highest source of revenue for Vodacom Tanzania, contributing 24.8 percent of service revenue, the company’s interim condensed consolidated financial results for the period ended 30 September 2022, shows. At Sh169.6 billion and Sh143.8 billion, M-Pesa and mobile voice remain the first and second highest sources revenue for Vodacom Tanzania respectively.
This, according to the financial results, was due to 28.3 percent improvement in the average amount that subscribers spent on data (Average Revenue Per User – ARPU) during the period.
“….this reflects strong demand for data services as a result of our continued investment into the network and acceleration of smartphone adoption,” the company says in its financial statement, adding that during the period, monthly average usage per customer grew 28.6 percent to 2.0 gigabyte.
Similarly, smartphone users on Vodacom’s network grew 18.2 percent to 4.7 million representing 58.8 percent penetration to data customer base, thanks primarily to the firm’s commercial initiatives in driving smartphone adoption and conversion, including investment in device subsidy and expanding our share of open market device sales.
While M-Pesa is also seen to be on the recovery, the company says, the rise in revenue was also partly supported by another double-digit growth in revenue from fixed services.
“The decision by the government to review levies on mobile money transfer and withdrawal transactions introduced on 15 July 2021, is a welcome move. The reduction is particularly relevant to our peer-to-peer and cash-out transactions which posted a modest recovery in the second quarter and our ability to expand financial inclusion to more Tanzanians,” Vodacom Tanzania’s managing director, Mr Philip Besiimire, said.
M-Pesa customers recovered to 7.7 million, up 19.5 percent.
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Handing over the cheque in Dodoma, the compensation is part of the crop insurance service provided by NBC in collaboration with the National Insurance Corporation (NIC).
Furthermore, President Samia has also handed over health insurance coverage to members of the Lindi Mwambao Cooperative Union based in Lindi Region, through the Farmers’ Health Insurance service provided by the bank in partnership with Assurance Insurance Company.
While visiting the bank’s pavilion at the Nanenane Agricultural Exhibition and being received and briefed by the bank’s Managing Director, Mr. Theobald Sabi, she said: “This crop insurance is one of the crucial solutions in ensuring farmers have a reliable income, without fear of challenges such as natural disasters, including hailstorms.
“I call upon all farmers in the country to make the best use of this important opportunity by accessing these kinds of insurance services. I also highly commend NBC and all the stakeholders participating in this programme.”
Elaborating further on the crop insurance service, the Minister of Agriculture, Hussein Bashe, stated that it will help to recover the loss farmers incurred, especially in various calamities beyond their control.
Citing them as floods, fires, and hailstorms, which have significantly affected the well-being of farmers and caused some to be reluctant to invest in the crucial sector, Mr Bashe added: “However, our President, this step by NBC is just the beginning, as this is the second year since they started offering this service, and the results are already visible.
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“As the government, we promise to continue supporting the wider implementation of this service, with the goal of ensuring that this crop insurance service reaches more farmers.”
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On his part, Mr Sabi said that the farmers who benefited from the compensations are from 23 primary cooperative unions in the regions of Shinyanga, Geita, Tabora, Mbeya, Katavi, and Kigoma.
He added: “In addition to these insurance services, as a bank, through this exhibition, we have continued with our programme of providing financial education and various banking opportunities to farmers, alongside offering them various loans, including loans for agricultural equipment, particularly tractors, to eligible farmers.:
At the NBC booth, President Samia also had the opportunity to be briefed on the various services offered by the bank to the farmers namely crop insurance and health insurance services.
There, the President had the chance to speak with some of the beneficiaries of the services, including the Vice-Chairman of the Lindi Mwambao Primary Cooperative Union, Mr. Hassan Mnumbe, whose union has been provided with a health insurance card from the bank.
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