“It's still in that startup phase, but we happy with the with the progress that we're making. Always knew that we'd have to invest in that business and continue to grow.”
Vodacom Group today published its financial results for the year to end-March 2026 and gave the market a glimpse to the performance of its Internet of Things (IoT) business, IoT.nxt.
IoT.nxt is a subsidiary of Vodacom South Africa and its financials are embedded in the local unit.
Since Vodacom’s strategic R1 billion acquisition of a 51% stake in IoT.nxt in 2019, the IoT specialist has become instrumental in driving its Beyond Mobile strategy, enabling digital transformation across multiple industries through cutting-edge connectivity solutions.
Asked to reflect on the performance of IoT.nxt, Vodacom CEO Shameel Joosub, told TechFinancials the IoT business contributes R300 million to the revenue of Vodacom South Africa.
South Africa service revenue grew 2.1% to R64.4 billion for the year to end-march 2026, supported by the contract segment and beyond mobile services. Beyond mobile services, which includes financial and digital services, fixed and IoT were up 6.8% and contributed R12.0 billion, or 18.7% of service revenue
“It’s (IoT.nxt) still, it’s still to break even where it’s added value to the group is, is really on, on being able to connect beyond the edge, and it has a very good sell side solution,” added Joosub.
“So, the base stations, and we’re selling that locally and internationally, but basically where you can look at your consumption of electricity and what’s going on at the site and be able to control it remotely.
Vodacom Group CEO, Shameel Joosub
“So that’s one of its key product solutions that it offers. And and then, of course, it’s also been involved in, in in projects with, you know, some of the government entities that we deal with, as well.
Joosub added: “It’s still in that startup phase, but we happy with the with the progress that we’re making. Always knew that we’d have to invest in that business and continue to grow.”
He added that the company continues investing in building the platform in IoT.nxt and would not disclose the amount already ploughed on the IoT platform.
With 160 employees primarily based at its Centurion headquarters, IoT.nxt maintains strategic European operations including:
A fully-fledged office in The Hague, Netherlands
An associate office in London established in 2017
The company’s website lists several local and global companies as clients such as AECI, Anglo American, Bidvest, Sibanye Stillwater, Siemens, Toyota, T-Systems, etc.
Founded in 2015 by Nico Steyn, Bertus Jacobs and Terje Moen, IoT.nxt has grown from a South African startup to a globally competitive IoT solutions provider. For more read:South Africa’s IoT.nxt sets up shop in The Netherlands
Through its innovative technology platform and strategic partnership with Vodacom, IoT.nxt continues to solidify Vodacom’s position as a full-stack IoT enabler, driving digital transformation across industries with smart, connected solutions that deliver measurable business value.
