At a Glance
- Vodacom’s market cap climbs to $15 billion, driven by strong FY2025 results and investor confidence.
- FY2025 revenue hits $8.52 billion; profit rises despite inflation and weaker consumer spending.
- Pan-African expansion reduces reliance on South Africa; customer base grows to over 211 million.
In a defining moment for Africa’s telecommunications sector, Vodacom Group has reached a $15 billion market capitalization, reinforcing its status as the continent’s most valuable communications company. The Gauteng-based mobile operator, listed on the Johannesburg Stock Exchange (JSE), has kicked off 2025 on a strong note, with solid gains that reflect both investor confidence and the company’s steady performance across multiple markets.
Market tracked by Shore.Africa shows that Vodacom’s market cap climbed from R210.6 billion ($11.21 billion) at the start of the year to R267.9 billion ($15 billion) by late May—a jump of R57.26 billion ($3.7 billion). The company’s share price on the JSE also rose more than 28 percent over the same period, moving from R101.91 ($5.40) to R130.71 ($7.27). These gains have placed Vodacom firmly among Africa’s corporate heavyweights, supported in part by a stronger rand and a solid set of full-year results for the fiscal year ending March 31, 2025.
Vodacom revenue, profit edge up in FY25
For a business that has been a central player in Africa’s mobile revolution for over three decades, this is more than just a number, it’s a reminder of how relevant Vodacom remains in an era defined by digital connectivity. Under the leadership of Group CEO Shameel Joosub, the company has weathered inflation, currency pressures, and changing consumer habits. Joosub has steered Vodacom toward a broader vision, expanding its reach beyond traditional telecoms into digital and financial services that touch millions of lives across the continent.
The company’s latest financial report sheds light on what’s fueling the renewed investor interest. Group revenue for FY2025 came in at R152.2 billion ($8.52 billion), a modest increase from R150.6 billion ($8.4 billion) the previous year. Profit after tax also improved slightly, rising to R19.89 billion ($1.11 billion) from R19.26 billion ($1.08 billion). These numbers are notable given the difficult economic environment in key markets, where rising costs and tighter consumer spending have left many companies struggling to maintain margins.
Pan-African growth cuts South Africa reliance
Vodacom’s reach extends far beyond its home base in South Africa. The group now operates in Egypt, the Democratic Republic of Congo, Tanzania, Mozambique, and Lesotho, and holds a major stake in East Africa’s Safaricom, which gives it exposure to Kenya and Ethiopia. In total, Vodacom serves 211.3 million customers—counting Safaricom users—while its mobile networks cover more than 500 million people across the continent.
This broader footprint didn’t happen overnight. Over the past five years, Vodacom has steadily shifted from being a South Africa-centric business to a more balanced pan-African operator. In FY2020, South Africa made up 71 percent of the company’s operating profit. By FY2025, that figure had dropped to 55 percent, thanks to growing contributions from its international operations. Over the same period, its customer base nearly doubled, from 115.5 million to 211.3 million, while users of its financial services platforms rose from 53.2 million to 87.7 million, driven by growing demand in countries like Kenya and Egypt.
Financial services have become a key part of Vodacom’s business, especially in regions where formal banking is still out of reach for many. Through its mobile money offerings and digital payment platforms, Vodacom is helping millions of people send, receive, and store money securely. This shift has deepened customer loyalty and opened up new revenue streams, all while supporting broader financial inclusion across Africa.
Shameel Joosub leads with vision
In a time when African companies face rising costs, regulatory shifts, and currency fluctuations, Vodacom’s ability to expand and stay profitable is worth noting. Investors have responded in kind, rewarding the company’s consistent execution and growth prospects.
With Shameel Joosub at the helm, Vodafone’s continued support, and a strong presence in some of Africa’s fastest-growing markets, Vodacom is doing more than keeping pace, it’s helping define the future of digital and financial access across the continent. Reaching a $15 billion valuation is a headline-grabbing achievement, but the real story lies in what comes next: a company steadily building its future while helping to shape Africa’s digital economy.
