South African mobile operator Vodacom Group Ltd on Thursday reported a 7.6 per cent rise in first-quarter group service revenue, buoyed by strong demand for voice, data and financial services in its domestic market during the coronavirus lockdown. Vodacom, which is majority owned by Vodafone, said group service revenue grew to 18.7 billion rand ($1.14 billion) in the three months ended June 30, up from 17.4 billion rand from the year-earlier period. Overall group revenue grew by 5.6 per cent. Data traffic surged by 97.7 per cent, also boosted by data price cuts implemented from April. The significant growth in demand for data assisted in offsetting the effects of the price cuts, Vodacom said.

Source: Standard Digital July 23, 2020 09:11 UTC