Vodacom Group reported strong results for its 2025 financial year ending March 31, 2026, attributing growth to international operations, financial services and continued customer expansion across Africa.
Revenue rose 10.1% to ZAR167.7 billion (US$10.1 billion) and service revenue increased 10.6% in rand terms and 12.9% on a normalised basis, while EBITDA climbed 12.8% to ZAR62.6 billion and the EBITDA margin improved to 37.4%.
Revenue and margin expansion supported by customer growth
Vodacoms customer base grew 12.3% to 237.3 million users across its markets. Financial services customers increased 17.4% to 103 million, and financial services revenue rose 19.6% to ZAR16.8 billion, contributing 12.6% of Vodacom group service revenue. Transaction value across the fintech platform increased 16.6% to $525.6 billion.
Vodacom also reported smartphone penetration across the group rising to 68.6%.
Regional performance: Egypt standout alongside stable South Africa and Mozambique
Vodacom said strong performances in Egypt, Tanzania, the Democratic Republic of Congo and Lesotho helped underpin growth, while it reported momentum was stable in South Africa and Mozambique. Egypt was described as a standout market, with local currency service revenue growth of 36.2% and EBITDA growth of 44.5%.
For Safaricom, Vodacom reported a contribution of ZAR4.6 billion to group operating profit, up 38.3%, supported by continued growth in Kenya and improving scale in Ethiopia. Vodacom also reported the customer base across its markets includes Safaricom on a 100% basis.
Network capex and site rollout to support expansion
Vodacom invested ZAR23.6 billion in capital expenditure during the year, rolling out more than 3,000 new 4G sites and over 6,000 new 5G sites across its footprint.
Safaricom stake expansion and Maziv fibre deal
Vodacom announced plans to acquire an additional 20% stake in Safaricom during the year, and it completed the acquisition of a strategic stake in South African fibre operator Maziv to expand fibre connectivity infrastructure.
Vision 2030 focus on digital and financial inclusion
CEO Shameel Joosub said Vodacom had made a strong start to its Vision 2030 strategy and remains focused on expanding digital and financial inclusion while strengthening its position across African markets.