Vodacom reports double-digit growth as Vision 2030 strategy gains momentum

Stephen Grootes speaks to Vodacom Group CEO Shameel Joosub about the company’s impressive half-year results for the period ending 30 September 2025.

Listen to the interview in the audio player below.

Vodacom Group has delivered a strong set of interim results for the first half of its 2025 financial year, buoyed by continued revenue growth, expanding customer numbers, and solid performances across its regional markets.

Group service revenue rose 13.6% to R65.8 billion, exceeding Vodacom’s medium-term double-digit growth target. Headline earnings per share increased 32.3% to 467 cents, with the board declaring an interim dividend of 330 cents per share, in line with its policy of paying at least 75% of headline earnings.

Vodacom’s customer base expanded to 223.2 million, including 93.7 million financial services users, placing it firmly on track toward its 2030 ambitions of 260 million total customers and 120 million financial services clients.

In South Africa, service revenue increased 2.2% to R31.7 billion, driven by contract customers, data growth, and expanding fixed and digital offerings. 

Vodacom’s international operations, covering the DRC, Lesotho, Mozambique, and Tanzania grew service revenue 13.3% to R16.7 billion, with customer numbers up 13.6% to 63.7 million.

Speaking to Stephen Grootes on The Money Show, Vodacom Group CEO Shameel Joosub says it's South African market is lagging behind slightly, impacted by various competitive pressures.

"There's a few factors playing out in the South African market...South Africa is becoming a more mature market. A few years ago, and hence the diversification of strategy and what we're seeing in the numbers is that strategy playing out. Which is both a diversification from a geographical lens, which was added Egypt and Ethiopia. And of course from a product lens, the big part of that being the fintech part," says Joosub.

"In the South African environment, the market is a bit more subdued, specifically I would say in the prepaid segment, more than the other segments because we still seeing strong growth in traffic, in contract and enterprise. But really the pressure point coming through prepaid environment," added Joosub.

Scroll to the top of the article to listen to the full interview.