Vodafone is predicting an interesting year for the mobile telephony industry with Mobile money and Machine-2-Machine (M2M) expected to take the industry to the next level across the country.
According to the telecommunications company, emerging markets have significant potential for customer and revenue growth this year driven by money transfer and payments using a handset and M2M services such as smart metering through SIM cards.
Other revenue streams that will be very crucial, according to Vodafone, include rising populations, strong economic growth and a lack of alternative fixed line infrastructure.
In Ghana, the telecommunications industry is expected to see heightened competition this year; following the deployment of LTE and the constant striving for high revenue yields and subscriber increases by telecom companies. These notwithstanding, prevalent issues such as regulatory interventions, the tax regime, aggressive competition and a tough economic environment still remain.
Mobile money and M2M are, however, set to be the two key elements that will dictate the pace in the industry this year. Vodafone Ghana recently launched “Vodafone Cash”, its version of the famous M-Pesa platform that has transformed the economies of East Africa. The product is expected to bridge the huge gap existing between the banked and unbanked across the country.
Additionally, Vodafone has also taken a huge leap in the adoption of M2M – to help companies mostly in the health, transport, logistics, banking, utilities and security sectors. These industries are using Vodafone’s SIM cards to smartly connect devices to enhance their efficiency and productivity output. In an era where customers are looking at new ways of working smart and efficient, Vodafone is determined to enhance its reputation for creativity and innovation in enabling this transformation to occur.
Commenting on the outlook for 2016, Haris Broumidis, Chief Executive of Vodafone Ghana said:
“It is certainly going to be an interesting year; one that will open doors and avenues for further consolidation in the gains made by the telecommunications industry. At Vodafone, we will continue to focus on new ways of providing unmatched customer experience. We see Vodafone Cash and M2M as two platforms that will become game-changers for us.”
In a related development, Vodafone is of the view that, across the rest of the world, the concept of unified communications will take center stage this year. According to a statement published in its 2015/2016 Annual report, consumer and enterprise customers in most developed economies are yearning for a unified approach where fixed, mobile and TV services will all be bundled together for access everywhere.
The statement adds that traditional revenue sources – mobile voice and texts – have reached maturity; hence the demand for data will shoot up in 2016, driven by rising smartphone and tablet penetration and usage, as well as improvements in mobile network capability.