Vodacom Reports Robust Q3 Growth, Driven By Diversification And Strategic Moves

Vodacom Group has released a strong trading update for the quarter ended 31 December 2025, showcasing sustained momentum across its diversified portfolio. Group revenue grew 11.0% to R43.9 billion, with service revenue up 12.7%.

Strategic Milestones and Financial Performance

The quarter was marked by significant strategic progress. Shameel Joosub, Vodacom Group CEO, commented: “We made significant strategic progress, marked by two milestones that strengthen our long-term growth profile.” He highlighted the final approval for the Maziv fibre acquisition in South Africa and the agreement to increase Vodacom’s effective stake in Safaricom to 55%, calling it a “landmark transaction.”

From a financial perspective, Joosub noted: “The ideal start that we delivered in the first half of the year… continued into the third quarter. This encouraging momentum underscores our confidence in the Group’s medium-term growth trajectory.”

Key Growth Engines

• Financial Services: A standout performer, with revenue soaring 24.7% to R4.5 billion. The Group’s mobile money platforms, including Safaricom, processed a staggering US$500.7 billion over the last twelve months.

• Egypt: Remained a powerhouse, with service revenue jumping 39.0% to R9.5 billion. Financial services revenue in Egypt grew an impressive 59.4%.

• International Business: Delivered excellent results with service revenue up 12.6%, driven by strong data and M-Pesa growth.

• South Africa: Achieved modest service revenue growth of 1.4% against a tough comparative period, supported by robust performances in financial services, fixed, and IoT. Data traffic surged by 32.3%.

A Future Focused on Inclusion and Growth

Shameel Joosub concluded: “With a strong platform and a clearer line of sight to key strategic milestones, I firmly believe the Group is well positioned to capture structural growth while staying true to our purpose of connecting people to a better future. Continued execution of our strategy has the potential to create immense economic value… helping to address inequality.”

The Group’s performance and recent strategic investments underscore its commitment to deepening digital and financial inclusion across Africa, positioning it for sustainable, long-term value creation.