Vodacom revenue jumps 10.9% to R81.6bn on financial services surge

Vodacom Group has posted stellar results, with group revenue soaring 10.9% to R81.6 billion ((over $4.7 billion)—12.1% on an organic basis—driven by a powerful 12.2% surge in service revenue.

The telecom giant’s financial services arm was the standout performer, jumping 20.3% to R8 billion as M-Pesa’s dominance across East Africa and VodaPay’s momentum in South Africa cemented Vodacom’s position as Africa’s digital powerhouse.

Regional performance highlights included 42.3% local-currency growth in Egypt, solid results from South Africa, and a strong recovery in international operations. Egypt delivered R17.6 billion in service revenue, supported by 5G rollout, a strong summer campaign, and 32.5% growth in digital financial services customers. The international business achieved 12.2% growth in service revenue, with Tanzania, Lesotho, DRC, and Mozambique all showing double-digit improvements. Safaricom also posted impressive results, with net income up 52.1%, customer growth in Kenya and Ethiopia, and a 14% rise in M-Pesa revenue.

Vodacom’s financial services continue to drive inclusion across Africa. In Tanzania, for instance, peer-to-peer and cash-out services dropped from 83% to 38% of financial revenue, as new products in lending, savings, and merchant payments gained traction. Across its footprint, the company has more than 1.5 million merchants, and mobile money apps like M-Pesa have seen user growth of over 50%.

Looking ahead, Vodacom remains committed to its Vision 2030 goals: achieving 75% smartphone penetration, increasing the contribution of beyond mobile services to 30% of total revenue, and achieving net-zero operational emissions by 2035. The company will continue investing in infrastructure, talent development, and innovation to strengthen its leadership in digital and financial inclusion

Vodacom Group’s revenues are up by nearly 11% for the first six months of the financial year even as customers rose to 223.2 million customers. Service revenue grew from R 58.6 billion (≈ $3.4 billion) during the same period in 2024 to R 65.8 billion (≈ $3.8 billion) in 2025.

“The encouraging revenue trend highlighted in the Vodacom Group’s performance in the first three months of the financial year continued into the second quarter. This has contributed to a strong set of interim results while at the same time underscoring the resilience and agility of our business,” Shameel Joosub, Vodacom Group CEO, shared.

ALSO READ: EQUITY GROUP REPORTS $405M NET PROFIT IN Q3 2025

In South Africa, service revenue surged to R 31.7 billion (≈ $1.83 billion), fuelled by strength in the contract segment and growth beyond traditional mobile offerings. Contract-mobile customer revenue rose by 3.7% to R 12.5 billion (≈ $722 million), driven by a price hike implemented in March 2025.

Meanwhile, prepaid mobile revenue slipped by 1.6% to R 13.2 billion (≈ $763 million), with the company attributing the decline to heightened competition and pressure on consumer wallets.

Data usage also climbed during the period: the number of smart devices rose to 34.3 million, while average monthly data usage per device grew to 5.9 GB

Other markets, including Tanzania and the Democratic Republic of Congo (DRC), registered moderate growth. In Tanzania, service revenue climbed to R 6.1 billion (≈ $353 million), while in the DRC, revenue grew to nearly R 7 billion (≈ $405 million). The company also announced plans to invest US$100 million in Tanzania.

Beyond its financial performance, this quarter saw it settle the 17-year dispute over Please Call Me in addition to getting regulatory approval to acquire Maziv after a three-year battle that would see it increase its infrastructure investment in South Africa.