Vodacom Adds Customers and Fintech Scale Across Its African Footprint
Fintech income continued growing across Vodacom’s markets as transaction volumes moved deeper into everyday payments
Vodacom reported stronger full-year earnings after growth from digital financial services and operations across multiple African markets lifted overall performance. The telecoms operator said revenue for the financial year ended March 2026 rose to ZAR167.7 billion, with customer additions and transaction activity contributing to higher income across the group.
The company said its total subscriber base reached 237.3 million users when including Safaricom customers on a full basis. Users of its financial products increased to 103 million, reflecting continued uptake of mobile payments and wallet services across its footprint.
Service revenue increased 10.6% during the year, while EBITDA climbed to ZAR62.6 billion. Margin performance also improved, with EBITDA margin rising to 37.4%.
Digital finance continued to occupy a larger role in the business. Vodacom generated ZAR16.8 billion from financial services operations during the period, while transaction volumes across its fintech platforms reached $525.6 billion. The figures illustrate how telecom operators are increasingly using payment ecosystems to deepen customer retention and create new revenue streams beyond traditional voice services.
International markets supplied much of the momentum. Egypt recorded some of the strongest gains within the group, posting 36.2% growth in service revenue in local currency terms alongside a 44.5% rise in EBITDA. Operations in Tanzania, Lesotho and the Democratic Republic of Congo also contributed to the year’s expansion.
South Africa remained comparatively stable, but regional businesses carried a greater share of overall growth. That trend reflects a broader pattern across African telecoms, where operators are finding faster expansion in data usage, mobile money activity and underpenetrated digital markets outside their legacy operations.
Vodacom also benefited from improved contributions at Safaricom. The Kenyan operator added ZAR4.6 billion to group operating profit, supported by growth in Kenya and continued scaling efforts in Ethiopia.
Network investment remained a central part of the company’s spending strategy. Vodacom allocated ZAR23.6 billion to capital expenditure during the year, adding thousands of 4G and 5G sites across its markets. Smartphone penetration across the group increased to 68.6%, indicating continued migration toward data-heavy services and app-based usage.
Chief executive Shameel Joosub said the company was continuing to pursue its Vision 2030 plans centred on digital connectivity and financial inclusion.
The operator also advanced its infrastructure and ownership strategy during the year. Vodacom announced plans to increase its holding in Safaricom and completed an investment in South African fibre business Maziv as competition intensifies around broadband networks, enterprise connectivity and digital services delivery.
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