Vodafone Ghana records 27.1% service revenue growth

Vodafone Ghana has recorded another impressive revenue performance, Vodafone Group’s financial results for the first quarter which ended June 30, 2011 shows.

According to the results which were released July 22, 2011 and published on its website, the Ghana subsidiary recorded service revenue of 27.1% as against 21% it had for the 2010 financial year which ended in May 2011.

“Ghana saw strong service revenue growth of 27.1%,” the results show adding that Vodafone Ghana recently launched its 3G network on June 29, 2011.

It did not, however mention the factors that contributed to the service growth even though in the 2010 financial year it said “in Ghana service revenue was supported by competitive tariffs and improved brand awareness.”

The Group’s service revenue grew up by 1.5% excluding mobile termination rate cuts which were up by 3.9%.

The total capital expenditure of the Group was £1.2 billion up by 15.9% during the quarter and a free cash flow of £1.2 billion.

Vodafone Ghana recorded a subscriber base of almost 3.5 million (3,494,000), 99.6% being prepaid customers.

By Ekow Quandzie

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