Vodacom earnings rise 7,8% off the back of a strong second half performance
A resilient performance in South Africa and continued growth in Egypt and Tanzania is behind the mobile operator's positive showing.
Picture: @Vodacom/X
Stephen Grootes speaks to Vodacom Group CEO Shameel Joosub about the company’s annual results for the year ended 31 March 2025.
Listen to the interview in the audio player below.
Vodacom recorded an 11.2% increase in normalised group service revenue for the year ended 31 March 2025, boosted by the Group's performance in its African market.
South Africa's biggest mobile operator is particularly encouraged by the strong performance in Egypt, which delivered a 45.2% increase in local currency service revenue, buoyed by increased uptake of Vodafone Cash and the growing demand for mobile and fixed connectivity.
With over 50 million customers, Egypt now accounts for 23.% of Vodacom's service revenue.
In the other African markets spanning across DRC, Lesotho, Mozambique and Tanzania, Vodacom achieved a 7.1% normalised service revenue growth, with Tanzania being the standout performer, delivering service revenue growth of 20.5%.
Vodacom's South African business achieved service revenue growth of 2.3%, experiencing data traffic growth of over 36.4%.
Speaking to Stephen Grootes on The Money Show, Vodacom CEO Shameel Joosub says Egypt has become a major part of the business, accounting for almost a quarter of its service reveniue.
"A few years ago we decided we needed to diversify both geographically and deepen our product diversification, and I think in both contexts its working really well. Egypt becoming a more material part of our earnings."
- Shameel Joosub, CEO - Vodacom
"When we look forward, it's [Egypt] is going to become an even more material part given the growth factor there of about 20% plus, for the next five years."
- Shameel Joosub, CEO - Vodacom
Scroll to the top of the article to listen to the full interview.