Vodacom Group has reported a significant increase in financial performance for the six months ended 30 September 2026, with group revenue rising by 25.6% to R102.5 billion as its customer base expanded to 250 million across its African operations.
The interim results, released on 10 November 2026, highlight the growing importance of telecommunications infrastructure, mobile connectivity and digital financial services in supporting Africa’s evolving digital economy.
The latest performance reflects continued demand for mobile services, increased financial technology adoption and the expansion of Vodacom’s regional operations, including the contribution of Safaricom following its consolidation into the group.
Revenue growth highlights expanding telecommunications operations
According to Vodacom’s interim results, group revenue increased from R81.6 billion in the corresponding period last year to R102.5 billion.
Service revenue also recorded strong growth, increasing by 29.4% to R85.1 billion. Meanwhile, earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 40% to R42.7 billion.
The company reported headline earnings per share of 587 cents, representing an increase of 25.7% compared with the previous corresponding period.
Although the reported growth reflects the consolidation of Safaricom, Vodacom also highlighted underlying business momentum. On a pro-forma basis, which provides a comparison excluding Safaricom’s contribution, service revenue increased by 13.3%, while EBITDA grew by 18%.
These figures demonstrate the continued demand for telecommunications services across the markets in which Vodacom operates.
Customer base expands to 250 million
One of the most significant developments in the latest results is Vodacom’s growing customer base.
The group reported that its total customer numbers increased by 11.8% to 250 million, strengthening its position as one of Africa’s major telecommunications providers.
The expansion reflects the importance of mobile networks in connecting individuals, households and businesses to digital services.
Mobile connectivity has become increasingly important for accessing online information, digital communication, education, entertainment and business platforms.
For businesses, improved telecommunications access also supports cloud-based services, remote working, digital transactions and the adoption of technology-driven operating systems.
As more people gain access to mobile connectivity, telecommunications providers are also facing increasing expectations to deliver reliable networks, improved coverage and affordable services.
Vodacom’s growing subscriber base highlights the scale of the opportunity within Africa’s expanding digital economy.
Financial technology becomes an increasingly important growth driver
Digital financial services remain another important component of Vodacom’s business strategy.
The company reported that its financial services customer base reached 108 million.
Financial services revenue increased by 99% to R15.9 billion. On a pro-forma basis, growth stood at 19.2%, reflecting the contribution from the expanded group following the consolidation of Safaricom.
The results highlight the increasing role of mobile technology in providing access to financial services.
Mobile money platforms allow customers to conduct transactions, transfer funds and access selected financial services using mobile devices.
These services are particularly important in markets where access to traditional banking infrastructure remains limited.
For businesses, mobile financial platforms also create opportunities to improve payment processes, support digital commerce and reach customers through technology-enabled channels.
The continued growth of this segment suggests that telecommunications companies are increasingly positioning themselves as broader digital service providers rather than relying exclusively on traditional voice and data services.
Safaricom strengthens Vodacom’s regional position
The consolidation of Safaricom has also influenced Vodacom’s latest financial performance.
The development represents an important step in the group’s regional expansion strategy, increasing its exposure to additional customers and digital financial services markets.
Safaricom is a major telecommunications and mobile money operator in Kenya, with its M-PESA platform playing an important role in the country’s digital financial ecosystem.
Bringing a larger share of Safaricom’s operations into Vodacom’s consolidated results has contributed to the group’s higher reported revenue and financial services performance.
The wider regional footprint also creates opportunities to strengthen digital connectivity, expand financial technology services and improve the group’s ability to serve businesses and consumers across multiple African markets.
However, distinguishing between reported growth and pro-forma performance remains important when assessing the group’s underlying business momentum.
Vodacom increases shareholder returns
Alongside its operational performance, Vodacom announced an interim dividend of 355 cents per ordinary share, representing an increase of 7.6%.
The company said the dividend reflects its revised payout policy and strong earnings generation during the reporting period.
Headline earnings increased by 25.7% to 587 cents per share, supporting the group’s decision to increase its interim distribution to shareholders.
The dividend is scheduled for payment on 7 December 2026 to qualifying shareholders.
What the results mean for Africa’s technology sector
Vodacom’s latest results highlight how telecommunications and financial technology are becoming increasingly interconnected across African markets.
The growth in customer numbers demonstrates the continuing importance of mobile networks as the foundation of digital participation.
At the same time, the expansion of financial services shows how telecommunications infrastructure can support broader economic activities beyond traditional mobile communication.
For businesses, reliable connectivity and digital payment platforms are increasingly important in supporting customer engagement, online transactions and operational efficiency.
The results also underline the importance of continued investment in network infrastructure, service innovation and technology platforms as demand for digital services increases.
As competition within Africa’s telecommunications industry develops, providers will need to balance customer growth, service quality, infrastructure investment and affordability.
Vodacom’s latest interim performance provides an indication of the scale of opportunities emerging from Africa’s expanding digital economy, particularly as mobile connectivity and financial technology become increasingly central to everyday business and consumer activities.
