Vodacom gets fintech boost as Vodapay gains momentum
Analysts say lacklustre market response to the group’s 12.5% increase in revenue from financial services is due to its focus on the local market where opportunities are less clear
01 February 2022 - 08:09
Vodacom, SA’s biggest mobile phone operator, says it is pleased with the take-up of its new fintech offerings as revenue from financial services rose above R2bn for the first time in its third-quarter to end-December.
Investors, however, appear to have been less impressed with the division’s performance compared with rival MTN. Its shares closed 1.26% lower at R144.98 on Tuesday, while MTN eased 0.17% to R191.80. The JSE all share rose 0.79% to 74,889 points...
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