Safaricom Parent Company Vodacom Group Reaches 237 Million Subscribers in 8 Countries

Vodacom Group added 26 million new customers over the past year with the group total now reaching 237.3 million subscribers across eight markets.

This was revealed for the year ended March 31, 2026. The 12.3% increase in group subscribers includes Vodacom’s markets in: South Africa, Mozambique, Egypt, Tanzania, the Democratic Republic of Congo (DRC), Lesotho, Kenya and Ethiopia.

Shameel Joosub, Vodacom Group CEO, said the customer growth was more than double the group’s annual Vision 2030. The target for 2030 was10 million customers. He said, “This scale is driving greater connectivity, productivity and financial inclusion. It underpins our decision to increase our Vision 2030 customer ambition to 275 million. Reflecting confidence that the growth opportunity remains far from fully realized.”

The group also plans to update its 2030 target for financial services customers from 120 million to 130 million.

Financial highlights for the year ended March 31, 2026

Group service revenue grew by 10.6% year-over-year (YoY) to R133.6 billion (US$8.1 billion), or 12.9% on a normalized basis. This was supported by strong performances in Egypt, Tanzania, the DRC and Lesotho, alongside “resilience” in South Africa and Mozambique.

Group earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 12.8% to R62.6 billion ($3.8 billion). EBITDA margin expanded to 37.4%.

Commenting on the numbers Joosub said, “This was a year that reflected both continuity and acceleration: staying true to the strengths that have served us well, while confidently stepping into the next phase of our growth journey. With headline earnings and free cash each growing by more than 20%, the benefits of our revenue and geographic diversification are apparent, even amid a complex and dynamic macroeconomic environment.”

Read Also: Safaricom Reports Strong Half-Year Results with 52.1% Growth in Group Net Income

Kenya and Ethiopia Safaricom Among the Best Performers

Safaricom reported strong results with service revenue and customer growth in both Ethiopia and Kenya. Safaricom contributed R4.6 billion ($280 million) to Vodacom Group operating profit, an increase of 38.3% YoY.

Joosub said, “Safaricom delivered an excellent performance with shilling service revenue growth of 11.5%, Ebitda growth of 27.9%, and net income up 37.0%,” Joosub commented, noting that Safaricom contributed R4.6-billion to Group operating profit, an increase of 38.3%. This result was underpinned by sustained operational excellence in Kenya and improving scale in Ethiopia. We were encouraged by Ethiopia’s performance, with customer growth of 54.2% to 13.6-million and losses narrowing as the business continues to scale.”

Vodacom Vision 2030!

Vodacom has so far rerouted its vision 2030 after witnessing the current growth rate of its network. This perpetually propelled by the mobile bandwidth and penetration in its target countries. The strategy are as it follows:

• Total Customer Base: Raised from the initial 260 million target to 275 million subscribers across its eight primary markets.
• Financial Services Base: Upgraded from 120 million to 130 million fintech users.
• Beyond Mobile Revenue: Scaling fintech, fixed-line, digital, and Internet of Things (IoT) services to account for 30% of group service revenue.