Vodacom targets double-digit profit growth by 2030

Details: Manny Pham; Category: Operators; 20 February 2025; 35313 views

Vodacom has set its sights on double-digit profit growth, anticipating a rise in subscriber numbers as more Africans adopt connectivity and digital services over the next five years.

According to Reuters, the South Africa-based operator informed potential investors that its EBITDA had reached 7.8% and is expected to grow to at least 10% between 2025 and 2030, driven by customer growth and increased adoption of financial services. This marks an upgrade from its previous single-digit target for 2024 to 2027.

Vodacom told investors it expects to add 50 million new customers, bringing its total subscriber base to 260 million across eight countries over the next five years. Additionally, it projected that 35 million more customers would adopt its financial services, adding to its existing base of 85 million, as smartphone penetration rises from 63% to 75%.

Full-year revenue is forecast to exceed ZAR 200 billion (US$10.8 billion), up from ZAR 151 billion in 2025.

In its financial results for the year ending 31 March, group EBITDA stood at 7.8% on a pro-forma basis, while on a reported basis, it grew by 24.3%.