Vodacom Group now has more than 211 million customers on its books and is aiming to reach 260 million clients by 2030.
The target was disclosed in Vodacom Group’s annual results for the year ended March 2025, which were published on Monday.
Vodacom now serves a combined 211.3 million customers (a 4% increase from a year ago) and 87.7 million financial services customers, including Safaricom on a 100% basis.
Currency impact
The full-year results are good, but the numbers were impacted negatively by the strengthening rand over the last year.
Highlights include:
- Group revenue was R152.2-billion, up 1.1% (or 10.9% when currency effects are stripped out);
- Group service revenue declined 0.1%, but increased 11.2% on a normalised basis, above the group’s medium-term target;
- Financial services revenue increased 7.6% (17.6%) to R14-billion, contributing 11.6% to group service revenue;
- Group Ebitda – a measure of operating profit – declined 1.1% to R55.5-billion but grew 7.8% on a normalised basis;
- Headline earnings per share were R8.57; and
- A declared full-year dividend of R6.20/share, up 5.1% on a year ago and ahead of average analyst estimates.
Vodacom said it has upgraded its medium-term target for Ebitda growth to be in the double digits.
‘Strong finish’
“Given significant currency volatility, I am particularly impressed with the strong finish the group produced in the last six months, supporting the confidence we communicated in November last year that the organisation is poised for a stronger second-half performance,” said group CEO Shameel Joosub in a statement.
Joosub said that over the past five years, Vodacom has increased the number of customers using its networks from 115.5 million in the 2020 financial year to the 211.3 million figure reported in the 2025 results.
“We will not be resting on our laurels and now seek to ensure we deliver against our Vision 2030 ambitions, which include growing our customer base to 260 million and financial services customer base to 120 million,” Joosub said.
The South African business reported service revenue growth of 2.3%, led by a recovery in prepaid and “sustained” data traffic growth of 36.4%. “Beyond mobile” services, including financial and digital services, the internet of things, and fixed lines, contributed 17.8%, or R11.2-billion, to South Africa’s service revenue.
Vodacom South Africa outspent its rivals on network infrastructure over the past 12 months, pumping R11.6-billion into capital expenditure in the 2025 financial year.
Standout performer
In its international markets, Tanzania was the standout performer in the period, delivering revenue growth of more than 20% and Ebitda growth north of 25% in local currency terms.
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“Despite current financial market turbulence, we are confident in the structural growth opportunity that Africa represents. Our leading market positions combined with a diversified portfolio that leverages a best-in-class digital and financial ecosystem positions us well to capture this opportunity and continue making a meaningful impact across the continent,” Joosub said. – © 2025 NewsCentral Media
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