Vodacom: financial services revenue jumps 99% to R15.9bn

Vodacom’s financial services revenue rose 99% year on year to R15.93 billion in the six months ended 30 September 2026. The South African telecoms group released the figures on Tuesday, 10 November, following the consolidation of Kenya’s Safaricom from the end of June.

That consolidation contributed significantly to the reported increase. On a comparable pro-forma basis that includes Safaricom in the prior period, financial services revenue grew 19.2%. Vodacom acquired an additional 20 percentage points in Safaricom, raising its holding to 55%, and has accounted for it as a subsidiary since 30 June.

Vodacom now serves 108 million financial services customers across Africa, an increase of 15% over twelve months. The group said transactions initiated through its financial platforms exceeded $575.5 billion in value over the same period. Its offerings include mobile money services in several African markets.

The additional Safaricom stake is subject to court proceedings in Kenya. The High Court ruled the acquisition null and void, while the Court of Appeal ordered the status quo to be maintained pending an appeal. Vodacom says it remains the registered shareholder of the disputed shares.

Interim dividend rises 7.6%

Across the group, revenue climbed 25.6% to R102.5 billion, while EBITDA rose 40% to R42.7 billion. On a comparable basis that includes Safaricom in both periods, EBITDA growth was 18%.

Headline earnings per share (HEPS) increased 25.7% to 587 cents, from 467 cents a year earlier. The board declared an interim dividend of 355 cents per share, up 7.6%.

Vodacom invested R13.3 billion in its networks during the half-year. Service revenue in Egypt grew 36.3% in local currency, while normalised service revenue across its other international operations, including Tanzania, the DRC and Lesotho, rose 13.7%.