Vodacom Group has announced plans to invest over R20 billion in capital expenditure (capex) in the coming financial year, reinforcing its commitment to enhancing connectivity, digital inclusion, and economic empowerment across Africa.
The Vodafone-owned telecom giant also revealed ambitious targets to expand its customer base to 260 million by 2030, up from 211.3 million today.
Vision 2030
Speaking on the company’s progress, Vodacom Group CEO Shameel Joosub said: “As we draw the curtain on our Vision 2025 strategy, I am immensely proud of the progress we have made over the past five years in delivering on our targets.
“This was achieved despite a challenging macroeconomic environment marked by a global health crisis, currency volatility, geopolitical tensions, inflationary pressures, and protracted energy disruptions in South Africa.”
Key highlights of Vision 2030 include:
- Growing the customer base to 260 million (from 211.3 million currently)
- Expanding financial services customers to 120 million (from 87.7 million)
- Increasing non-mobile revenue contribution to 30% (up from 21%)
- Double-digit growth in service revenue and EBITDA
Tech for Good
Vodacom’s purpose-driven initiatives, such as m-mama, Code Like a Girl, Techstart, and Je Suis Cap, have already impacted millions across Africa.
The company aims to upskill one million young people to help bridge the digital skills gap.
Strong Financial Performance
Despite economic challenges, Vodacom reported:
Headline earnings per share (HEPS) up 1.3% to 857 cents. HEPS is South Africa’s main profit gauge.
- Total dividend of 620 cents per share (in line with 75% payout policy)
- M-Pesa processed $450.8 billion in transactions (up 18.3%)
- Financial services revenue grew 17.6%, contributing 11.6% of Group revenue
Expansion in Ethiopia & Safaricom’s Growth
Ethiopia’s customer base surged 103.2% to 8.8 million, with service revenue up 238.9% in local currency.
Safaricom (Kenya) delivered 10.5% service revenue growth, driven by strong M-Pesa and data performance.
Looking Ahead
Joosub emphasised Vodacom’s long-term commitment: “We will not rest on our laurels. Vision 2030 will focus on empowering people, protecting the planet, and maintaining trust while elevating customer experience and innovation.”
With R20 billion in planned investments, Vodacom is positioning itself as a leader in Africa’s digital transformation, ensuring broader connectivity and economic opportunities for millions.
*This article first appeared in our sister publication techfinancials.co.za
