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Vodacom Group has reinforced the growing importance of financial technology to its business after revealing that its mobile money platforms processed transactions worth $547.9 billion over the past 12 months, underscoring the rapid expansion of digital financial services across Africa.
The milestone comes as the South African telecom giant continues to diversify beyond traditional voice and data services, with fintech now accounting for an increasingly significant share of its revenue and long-term growth strategy.
Financial Services Fuel Business Expansion
According to the company, its financial services division generated 17.8% growth in service revenue, reaching 4.5 billion rand during the reporting period. The strong performance reflects rising adoption of mobile money, digital payments, merchant services, savings products and other financial solutions across Vodacom’s operating markets.
The company said the expansion of its fintech ecosystem has been driven by increased customer demand for convenient digital financial services, particularly in markets where access to conventional banking remains limited.
Safaricom Acquisition Strengthens Fintech Footprint
Vodacom’s growing financial services business has also received a significant boost from the completion of its acquisition of an additional 20% stake in Safaricom, increasing its shareholding in the Kenyan telecommunications company from 35% to 55%.
The transaction, which became effective on June 30, 2026, gives Vodacom controlling interest in one of Africa’s most influential telecom operators and significantly expands its exposure to M-Pesa, one of the continent’s largest mobile money platforms.
With Safaricom now fully consolidated into the Group’s financial results, Vodacom expects financial services to contribute more than 22% of group service revenue, compared to about 13% previously.
Mobile Money Becomes Core Business
The latest figures illustrate how mobile money has evolved from a value-added service into one of the company’s core business pillars.
Across Africa, telecom operators are increasingly leveraging their extensive customer networks to offer digital wallets, person-to-person transfers, merchant payments, lending and savings products, helping to close financial inclusion gaps while creating new revenue streams.
For Vodacom, the scale of transactions processed through its mobile money ecosystem demonstrates the growing reliance of individuals and businesses on digital financial services for everyday transactions.
Growth Targets Raised
Buoyed by the strong performance and the successful Safaricom transaction, Vodacom has upgraded its medium-term financial targets under its Vision 2030 strategy.
The company now aims to generate more than 300 billion rand in annual revenue by 2030, up from its previous target of over 200 billion rand. It also raised its medium-term expectations for EBITDA and operating free cash flow growth, reflecting confidence in the long-term contribution of its telecommunications and fintech businesses.
Digital Finance Reshaping Africa’s Telecom Industry
Industry analysts say Vodacom’s latest performance highlights the growing convergence of telecommunications and financial technology across Africa.
As mobile operators continue investing in digital payments, mobile wallets and embedded financial services, fintech is increasingly becoming a strategic growth driver rather than a complementary offering. The trend is expected to accelerate as smartphone penetration improves and millions more Africans embrace digital financial services for payments, commerce and savings.
For Vodacom, the latest results reaffirm that the future of Africa’s telecom industry extends well beyond connectivity, with digital finance emerging as a central pillar of the continent’s evolving digital economy.
