Vodacom reports revenue growth but says it needs spectrum
Vodacom Group Limited has released its interim results for the six months ended 30th September 2017 this morning.
Shareholders will welcome the news that the group revenue grew 4.6 percent to R41.9 billion year-on-year.
It reports that 2.9 million South Africans and 1.4 million international customers joined its network in the first half of this year, which brings the total customers number to 71 million.
Vodacom also reports that 3.3 million sim cards have been connected to its Internet of Things offerings, while the sale of smartphones contributed 7.7 percent to revenue growth.
But Vodacom has noted some troubles and they don’t seem to be going away anytime soon. That trouble has to do with spectrum.
With a growing number of people connecting to the internet and sending rich media to friends and family, the networks we use are starting to get clogged up.
Vodacom has said that is investing in increasing the number of base stations in its rural coverage programme.
“Without new spectrum we are forced to build more base stations to meet data growth demand. Additional spectrum will allow us to invest more efficiently and accelerate our rural coverage programme,” said Vodacom.
It’s hard to really feel bad for a company reporting billions in revenue that also complains about how it needs to invest to make more money. That having been said, additional spectrum would go a long way to helping us connect those who are not yet connected.
By the looks though we’re still reliant on companies reaching into their pockets to improve coverage.[Source – Vodacom]