Investment in technology and network remains central to supporting growth, says Vodacom Group, having invested $1,4 billion (R23.6bn) in capital expenditure for the 2026 financial year.
The pan-African telecommunications provider released its annual results for the year ending 31 March 2026, highlighting 10.1% revenue growth and a 22.9% increase in headline earnings per share (HEPS).
The group, which includes Safaricom, rolled out 3 041 new 4G and 6 160 new 5G sites during the period.
These investments support rising data demand, enhance network and customer experience and enable scalable digital inclusion, says Shameel Joosub, CEO of Vodacom Group.
“We added 18.8 million smartphones during the year, lifting smartphone penetration across the Group to 68.6%, supported by continued progress in handset affordability innovations,” says Joosub.
He adds: “Across many of our markets, the challenge is increasingly one of device access rather than coverage, and we remain focused on addressing this responsibly.”
In addition, Joosub went on to say the company’s “purpose-led business model” continues to remain central to how Vodacom grow, with a particular focus on advancing gender inclusion across its value chain.
He explains: “Through initiatives such as m-mama, programmes addressing gender-based violence, Code Like a Girl, Je Suis Cap in the DRC, where we are training disabled women to become mobile money agents, as well as our Female Leadership programme and inclusive procurement initiatives, we are using technology to expand access to opportunities.
"In Tanzania, our savings product, M-Kopa, is scaling rapidly with 60% of deposits transacted by women members, while in rural Egypt, we are training one million women to establish and run their own digital businesses."
Vodacom remains firmly focused on maintaining trust, strengthening cyber security and embedding strong artificial intelligence governance to ensure innovation is deployed responsibly, according to Joosub.
From a macroeconomic perspective, uncertainty is expected to persist; however, the fundamentals of the group remain strong.
Joosub notes: “The group’s resilience through a challenging macroeconomic period between FY2022 and FY2025 bears testament to these qualities.
"As energy costs continue to rise and diesel supply remains uncertain, we have mitigation measures in place and are actively managing these risks to minimise any potential disruptions."
In other key metrics, Vodacom Group says it served a combined 237.3 million customers, up 12.3%, and 103.0 million financial services customers, including Safaricom, on a 100% basis.
The telco says it delivered ahead of its EBITDA medium-term target, with a double-digit outlook confirmed.
Revenue of R167.7 billion, up 10.1%; financial services revenue increased 19.6% to R16.8 billion, contributing 12.6% to Group service revenue.
Vodacom’s service revenue grew 10.6% in rands and increased 12.9% on a normalised basis; EBITDA grew 12.8% to R62.6 billion, and 14.2% on a normalised basis, HEPS of 1 053cps was up 22.9% and a final dividend of 405cps up 20.9%.
Total dividend at 735cps up 18.5%.
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