Vodacom Group Limited reported a 5.9% year-on-year increase in group revenue to R42.4 billion for the quarter ended 30 June 2026, driven by continued growth in its financial services business, strong performance in Egypt, and expansion across its international operations. The company noted that reported growth was affected by translation effects from the stronger South African rand.
According to the trading update released on 27 July 2026, group service revenue increased 6.3% to R34.3 billion from R32.3 billion in the corresponding quarter last year. On a normalized basis, which adjusts for foreign exchange movements and other factors to provide comparable performance, service revenue growth accelerated to 12.6%, while group revenue recorded normalized growth of 11.4%.
Vodacom’s South African business recorded steady growth during the quarter, with service revenue increasing 2.0% to R16.1 billion, supported by improved prepaid performance. Total revenue from South Africa rose 1.6% year over year to R22.9 billion, compared with R22.5 billion in the same period last year.
Egypt remained Vodacom’s fastest-growing market during the reporting period. Service revenue increased 32.8% in local currency, while financial services revenue in the market rose 73.0%.
Reported revenue from Egypt reached R11.1 billion, up from R9.3 billion a year earlier, representing 18.7% reported growth and 36.3% normalized growth. Service revenue from the country increased to R9.8 billion, compared with R8.5 billion in the corresponding quarter of 2025.
International Operations Continue to Expand
Vodacom’s international business also recorded continued growth during the quarter. International service revenue increased 4.1% on a reported basis to R8.5 billion, while normalized growth reached 14.0%.
Total international revenue rose 2.3% year over year to R8.6 billion, up from R8.4 billion in the same quarter last year. On a normalized basis, international revenue grew 12.1%.
The group’s financial services segment remained a major contributor to overall performance during the quarter. Financial services revenue increased 17.8% year over year to R4.5 billion, while normalized growth accelerated to 27.0%.
Over the last twelve months, Vodacom’s mobile money platforms, including Safaricom, processed US$547.9 billion in transaction value, highlighting the scale of the group’s digital financial services operations across its markets.
Vodacom confirmed that its Safaricom transaction became effective on 30 June 2026. Following the completion of the transaction, the company upgraded its medium-term guidance, enhanced its Vision 2030 ambitions, and updated its dividend policy.
Quarterly Update Remains Unaudited
The company noted that the quarterly financial information has not been audited or reviewed by its external auditors. All reported growth rates compare the quarter ended 30 June 2026 with the quarter ended 30 June 2025, while normalized growth adjusts for trading foreign exchange movements, foreign currency fluctuations using constant currency as a base, and the effects of mergers, acquisitions, and disposals to provide a like-for-like comparison of performance.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.