by SAVIOUS KWINIKA
JOHANNESBURG, (CAJ News) – VODACOM Group has reported a strong set of annual results for the year ended 31 March 2026, driven by robust growth in financial services, expanding operations across Africa and improved earnings performance.
The telecommunications operator increased revenue by 10.1% to R167.7 billion, while service revenue rose 10.6% to R133.6 billion.
On a normalised basis, service revenue growth reached 12.9%, comfortably ahead of the company’s medium-term target. Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 12.8% to R62.6 billion, with headline earnings per share increasing 22.9% to 1 053 cents.
The board declared a final dividend of 405 cents per share, up 20.9%, bringing the total dividend for the year to 735 cents per share, an increase of 18.5%.
Vodacom added 26 million customers during the year, more than double its annual Vision 2030 target, taking its total customer base to 237.3 million across eight markets.
Financial services customers increased 17.4% to 103 million, including Safaricom customers.
Chief executive Shameel Joosub said the results reflected “a strong start” to the company’s Vision 2030 strategy, highlighting the benefits of geographic and revenue diversification despite ongoing macroeconomic pressures.
Financial services continued to emerge as a key growth driver, with revenue from the segment rising 19.6% to R16.8 billion and contributing 12.6% of group service revenue. Vodacom processed US$525.6 billion in financial transactions during the year, an increase of 16.6%.
The company also strengthened its strategic position through two major transactions announced in December.
Vodacom agreed to acquire an additional 20% stake in Safaricom, deepening its exposure to high-growth East African markets, including Kenya and Ethiopia.
Completion of the deal remains subject to an ongoing court process in Kenya.
In South Africa, Vodacom finalised the acquisition of a stake in fibre operator Maziv, a move aimed at accelerating fibre deployment and expanding connectivity in underserved communities.
International operations delivered strong momentum, particularly in Egypt, Tanzania, the Democratic Republic of Congo (DRC) and Lesotho.
Egypt recorded local-currency service revenue growth of 36.2% and EBITDA growth of 44.5%, accounting for nearly 30% of group EBITDA.
Safaricom also posted strong results, with service revenue growth of 11.5% and EBITDA growth of 27.9% in local currency terms.
The business contributed R4.6 billion to Vodacom’s operating profit, supported by continued expansion in Ethiopia, where customer numbers grew 54.2% to 13.6 million.
Vodacom invested R23.6 billion in network infrastructure during the year, including the rollout of more than 6 000 new 5G sites across its markets.
– CAJ News