Vodacom Group CEO Shameel Joosub has emphasised the company’s commitment to financial services as a key strategic priority, following an 18.1% (21.3%*) revenue increase to R3.9 billion for the quarter ended 30 June 2025.
Speaking on the Group’s trading update, Joosub noted: *”Financial services remain a clear strategic priority for Vodacom and represent the largest component of our beyond-mobile offerings. Including Safaricom, we now process $460 billion in mobile wallet transaction value annually, a 14.9% increase over the past year, which solidifies our fintech leadership in Africa.”*
The sustained growth in financial services aligns with Vodacom’s mission to drive financial inclusion through an expanding portfolio, including insurance, loans, savings, international money transfers, and merchant services.
“The performance of our financial services is particularly pleasing as it directly supports financial inclusion,” Joosub added. “Our insurance business in South Africa delivered strong growth, Egypt saw a 44.3% revenue increase (55.1% in local currency), and our International business grew by 17.4% (20.8% normalised), led by Mozambique’s improved performance.”
Result Highlights
- Group revenue grew 10.6% (12.7%*) to R40 billion.
- Group service revenue growth accelerated to 13.8%* on a normalised basis, tracking favourably against our medium-term target.
- South Africa service revenue growth increased to 3.0%, supported by contract.
- Egypt grew service revenue by 43.8%* in local currency, with Egypt financial services revenue up 55.1%
- International business service revenue increased by 9.7%, with normalised growth accelerating to 12.4%
Looking ahead, Vodacom is focused on its Vision 2030 targets, which include expanding its customer base to 260 million and financial services users to 120 million.
“Core to our strategy is accelerating mobile and fixed connectivity, scaling handset financing, and rolling out innovative digital and financial services across all markets,” Joosub stated. “We will also deepen partnerships, enhance infrastructure sharing to improve rural and fibre connectivity, and expand our Tech for Good initiatives.”
Concluding, Joosub expressed confidence in Vodacom’s growth trajectory: “Vodacom is ideally positioned to capture structural growth opportunities while fulfilling our purpose of connecting people to a better future.”
