Vodacom and MTN plan to continue price increases despite revenue increases.
According to their latest financial results, pan-African mobile network operators Vodacom and MTN recorded service revenue increases of 17.2% and 15.6% respectively. Despite the growth in revenues, both MNOs have announced that they are planning on implementing price hikes across their various markets. Vodacom’s mobile contract customer revenue increased by 2.8% to R22.6 billion, benefitting from contract price increases of between 3% – 5% implemented in the first quarter of the financial year.
Speaking at an annual results investor and analysts call this week, Vodacom Group CEO Shameel Joosub stated that the telco plans to continue with price increases, especially for post-paid customers, permanently.
“The modus operandi that we’ve deployed now is to increase prices, which we think we want to make a more permanent feature of our strategy going forward, but at the same time to give more…