Money – In Brief
- Senegalese telecoms service provider Sonatel has reported an 11% rise in net income for the year ended 31 December 2012 to XOF171 billion (USD349 million), from XOF154 billion in FY2011, on revenue that climbed 4.3% to XOF663 billion. The operator said that it was able to use its dominant position in the market to fight off stiff competition from a number of alternative operators. Profits were further bolstered by the ending of a surtax on international voice calls in the country – its primary market – which helped fuel EBITDA, which rose 3.7% to XOF347 billion last year. EBITDA margin was 52%, down one percentage point on FY2011, but in line with its target of >50% for fiscal 2012.
- Mobile money provider Orange Money announced this week that through the end of 2012, the number of users has risen to over five million, or an estimated 5.6 million users in Africa.