Vodacom Group processed $547.9 billion in mobile money transactions over the past 12 months, including Safaricom, as it expands deeper into financial services.
The pan-African telecoms provider reported the figures in its trading update for the quarter ended 30 June 2026, highlighting continued fintech growth across its operations.
The results reflect the growing role of mobile money as a key revenue driver beyond traditional telecoms services.
Vodacom’s financial services performance comes as emerging market telcos increasingly position fintech as a growth engine, enabling consumers to transact more easily.
Across Africa, operators are also consolidating technology platforms to manage costs, rising customer expectations and network complexity.
Commenting on the results, Vodacom Group CEO Shameel Joosub said the quarter marked a “defining moment” following the completion of the acquisition of a controlling stake in Safaricom, increasing Vodacom’s shareholding from 35 percent to 55 percent, effective 30 June.
“This strategically important transaction represents a major milestone in our Vision 2030 journey, significantly enhancing the Group’s scale, diversification and long-term growth prospects,” he said.
“We are now entering a new phase of growth, supported by a more balanced portfolio, broader earnings drivers and increased exposure to some of Africa’s most attractive opportunities in connectivity, digital services and financial inclusion.”
He added the company has upgraded its medium-term EBITDA and operating free cash flow growth targets from double-digit to early-teens growth.
On fintech, Joosub said: “Financial services remains the largest component beyond mobile and a key strategic growth engine. Including Safaricom, we process $547.9 billion of mobile wallet transaction value annually, up 19.1 percent.”
Vodacom Group revenue grew 5.9 percent to R42.4 billion, impacted by translation effects from the stronger Rand.
Group service revenue increased 6.3 percent, with normalised growth accelerating to 12.6 percent, tracking against the group’s medium-term target.
Egyptian operations grew service revenue 32.8 percent in local currency, with financial services revenue up 73.0 percent, while international business service revenue increased 4.1 percent in rand terms, with normalised growth of 14.0 percent.
Group financial services revenue increased 17.8 percent to R4.5 billion, with normalised growth of 27.0 percent.
Looking ahead, Joosub said the Safaricom consolidation represents a step-change in Vodacom’s scale, diversification and growth profile.
“The Group will operate with a more balanced and diversified portfolio, with meaningful earnings contributions across four segments: a cash-generative South African operation, alongside higher-growth businesses in Safaricom, Egypt and our international business.”
He said the shifting earnings mix towards faster-growing markets and beyond-mobile services creates opportunities to reinvest capital at higher growth rates while strengthening the balance sheet.
This is reflected in updated medium-term growth targets and a revised capital allocation framework.
Accordingly, he said the board has updated the dividend policy to a payout of at least 65 percent of headline earnings.
“At this revised payout level, we expect to grow the dividend per share for FY2027, based on our current growth trajectory and prevailing economic conditions,” Joosub said.
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