Financial services remain a core growth driver for Vodacom Group, with pro-forma financial services revenue reaching R43.1 billion ($2.6 billion) over the past year, says Shameel Joosub, Group CEO of Vodacom.
The mobile operator declared an interim dividend of 355 cents per share for the six months ended 30 September 2026.
Group revenue rose 25.6% to R102.5 billion, while financial services revenue expanded 99% to R15.9 billion, boosted by the consolidation of Safaricom.
“The combination of Vodacom and Safaricom creates one of the continent's largest fintech platforms,” says Joosub.
“Customers used our financial services platforms to access and initiate more than $575.5 billion in transaction value, demonstrating our commitment to financial inclusion through accessible, affordable pricing. We increased our financial services customer base by 15% to 108 million.”
These platforms are expanding access to formal financial services, enabling economic participation for millions of people and businesses, he adds.
Together with financial services, Vodacom’s fixed, digital and Internet of Things services—which the group terms beyond mobile—now contribute 27.4% of group service revenue.
Regarding its shareholding in Safaricom increasing to a 55% stake, Joosub says: “The Safaricom transaction further enhances our earnings profile, broadens our exposure to attractive high growth markets and materially increases the contribution from financial services and digital businesses.”
While the High Court in Kenya recently declared the acquisition null and void, an expedited appeal is underway and the Court of Appeal in Nairobi has ordered that the status quo be maintained, meaning Vodacom remains the registered shareholder of the shares pending the outcome of the appeal.
“Our confidence in the strategic rationale of the transaction remains unchanged, with Safaricom accounted for as a subsidiary of the group from 30 June 2026,” says Joosub.
Headline earnings per share rose by 25.7%, while earnings before interest, taxes, depreciation and amortisation grew 40% to R42.7 billion, or 18% on a pro-forma basis. Total customer count across the group reached 250 million, up 11.8%.
Looking ahead, Joosub says: “As we enter the second half, our focus is firmly on execution, accelerating operational leverage and realising the full value of our portfolio.”
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