Vodacom Group announces plans to invest more than R20 billion in capital expenditure (CAPEX) next year, strengthening its commitment to strengthening connectivity, digital inclusion and economic empowerment across Africa.
The Vodafone-owned telecom giant has revealed its ambitious goal of expanding its customer base to 260 million by 2030, from today's 221.3 million people.
Vision 2030
Sameel Joosub, CEO of Vodacom Group, said on the company's progress:
“This was achieved despite the challenging macroeconomic environment characterized by South Africa's global health crisis, currency volatility, geopolitical tensions, inflationary pressures and prolonged energy destruction.”
The key highlights of Vision 2030 are:
Increases customer base to 260 million (from the current 221.3 million) and expands financial services customers to 120 million (from 87.7 million), while non-mobile revenue contributions increase to a double-digit increase in service revenue and EBITDA
Technology for good
Codes like Vodacom's objective-driven initiatives such as M-Mama, Code aa Girl, Techstart and Je Suis caps have already impacted millions of people across Africa.
The company aims to raise 1 million young people to close the digital skills gap.
Strong financial performance
Despite the economic challenges, Vodacom reported:
Earnings per share (HEP) rose 1.3% to 857 cents. HEPS is South Africa's main profit meter.
M-PESA, a total dividend of 620 cents per share (along with the 75% payment policy), increased by 17.6% in $4000.8 billion (up 18.3%), contributing to 11.6% of group revenue
Expanding growth in Ethiopia and Safaricom
Ethiopia's customer base grew by 1,0003% to 8.8 million, while service revenues increased by 238.9% in local currency.
Safaricom (Kenya) has brought about 10.5% service revenue growth driven by strong M-PESA and data performance.
Looking ahead
Joosub highlighted Vodacom's long-term commitment. “We are not in glory. Vision 2030 will focus on empowering people, protecting the planet and maintaining trust while enhancing customer experience and innovation.”
With planned investments of R2 billion, Vodacom has established itself as a leader in Africa's digital transformation, ensuring millions of broader connectivity and economic opportunities.
*This article was first published in sister publication techfinancials.co.za
