Vodacom Announces Quarter 1 Revenue of R40 Billion, a 13.8% Increase in Service Income
Vodacom Group has reported a strong financial performance in Q1 2025, with group revenue increasing 10.6% year-on-year to £2.2 billion (R40 billion). This growth was primarily driven by robust performance across its African markets, including Egypt and South Africa [1][3][4][5].
Egypt's growth was particularly noteworthy, with service revenue rising significantly by 43.7% in local currency terms. It now contributes 26.3% of Vodacom’s total group service revenue, with service revenue reaching R8.5 billion. The number of customers in Egypt increased to 52.2 million, up 6.4%, and financial services customers grew by 37.3% to 12 million users, supported by increasing uptake of Vodafone Cash which grew 47.9% to 8.7 million users. Egypt’s surge was supported by network investments including the launch of 5G services and enhancements of integrated connectivity, content, and fixed broadband services [1][5].
For the financial services segment overall, Vodacom’s financial services revenue increased 8.7% to R3.3 billion, with normalized growth at 16.8%. The company processed a total of $400.2 billion in mobile money transactions in the past year, reaffirming its position as Africa’s largest mobile money platform by transaction value. In South Africa, financial and digital offerings contributed 17% of service revenue, generating R2.6 billion. The financial services customer base also expanded significantly, reflecting increasing adoption of mobile money and related digital services across Vodacom’s footprint [1][5].
Vodacom invested heavily in network infrastructure across its markets, including R1.2 billion in international 4G site expansion, supporting strong data revenue growth [1][5]. Group service revenue growth accelerated to 13.8% on a normalized basis, exceeding medium-term targets. Data traffic saw large increases, including a 31.3% surge in South Africa and 23.6% growth in Egypt.
The acquisition of a 30% stake in Maziv, which is no longer opposed by the Competition Commission, pending requisite approval, is expected to accelerate fibre network expansion, help bridge the digital divide, and contribute to job creation in South Africa. Vodacom is aiming to expand its customer base to 260 million and its financial services customer base to 120 million by 2030 [2].
Beyond mobile services contributed R6.9 billion to the Group's total revenue, representing 21.4% and on track to reach 30% by 2030. This momentum is underpinned by continuous network investment and product innovation [1][5].
References: [1] Vodacom Group Limited, "Vodacom Group Limited Reports Q1 2025 Results", 1 July 2025, [2] Vodacom Group Limited, "Vodacom Group Limited Announces 2030 Strategic Goals", 1 January 2020, [3] ITWeb, "Vodacom Group's Q1 2025 revenue up 10.6% year-on-year", 1 July 2025,
In Egypt, the surge in financial services contributed to a notable increase in Vodacom's total group service revenue, with financial services customers growing by 37.3% to 12 million users. This growth was fueled by the expanding uptake of Vodafone Cash and other fintech services on mobile devices [1][5]. The technological advancements in this sector, including the launch of 5G services and enhanced connectivity, are driving business growth within Vodacom's African markets [1][5].
