Vodacom Group reported its financial results for the year ended 31 March 2026, showing growth across key performance indicators, supported by increased customer numbers, stronger financial services performance, and higher earnings.
The group’s revenue rose 10.1% to R167.7 billion, while service revenue increased 10.6% to R133.6 billion.
On a normalised basis, service revenue growth was 12.9%. EBITDA increased 12.8% to R62.6 billion, with margins expanding to 37.4%. Headline earnings per share grew 22.9% to 1 053 cents.
Vodacom declared a final dividend of 405 cents per share, up 20.9%, bringing total dividends for the year to 735 cents per share, an increase of 18.5%.
READ: Lesaka profits surge as fintech divisions drive strong quarterly growth
Growing customer base
The group’s customer base expanded by 12.3% to 237.3 million across eight markets. Financial services customers increased 17.4% to 103.0 million, including Safaricom on a 100% basis. Financial services revenue grew 19.6% to R16.8 billion, contributing 12.6% to group service revenue.
Vodacom CEO Shameel Joosub said the results reflected progress on the group’s Vision 2030 strategy, noting growth in both earnings and free cash flow. He added that the group had confirmed its medium-term targets and increased its customer ambition to 275 million by 2030.
Operational performance varied across markets. Egypt recorded strong growth, while Tanzania, the Democratic Republic of Congo and Lesotho delivered double-digit increases. South Africa posted moderate growth in service revenue of 2.1%.
Safaricom contributed positively to group results, with higher operating profit and net income growth, supported by operations in Kenya and early-stage expansion in Ethiopia.
During the period, Vodacom continued investment in network infrastructure and digital services, including capital expenditure of R23.6 billion. The group also advanced strategic investments in Safaricom and fibre operator Maziv, aimed at expanding connectivity and broadband infrastructure.
Beyond mobile services, including fintech, fixed and digital offerings, accounted for 22.3% of service revenue, reflecting continued diversification of the group’s revenue stream
ALSO READ: Raubex lifts profit as infrastructure and mining units support growth
