Vodacom adds millions to fintech ecosystem, eyes 120M by 2030
Vodacom expands telecom and fintech base with data-driven strategy
South African mobile operator Vodacom is expanding not only its telecom user base but also its fintech clientele. The company announced that its financial services ecosystem now serves 87.7 million customers, with plans to grow that number to 120 million by 2030.
Over the next five years, Vodacom also plans to increase its total subscriber base from 211 million to 260 million. However, financial services are playing an increasingly important role in Vodacom’s business model beyond its core mobile services.
“Vodacom is experimenting with several strategies to unlock new growth areas beyond mobile while leveraging its telecommunications assets,” said Roy Mutuni, portfolio manager at Sanlam Investments, in an interview with BusinessDay TV.
According to him, Vodacom’s non-mobile divisions now contribute 20–22% of company profits.
In its annual report for the fiscal year ending March 31, 2025, Vodacom stated that financial services were a key growth driver, growing by 7.6% and adding 9 million users. Revenue from financial services rose from R6 billion in 2020 to R14 billion ($784 million) in 2025.
“They’ve expanded into e-commerce, corporate services, and their app strategy continues,” Mutuni said.
Super app strategy boosts engagement
Vodacom’s app strategy focuses on multiple super apps rolled out across African markets — notably VodaPay, Vodafone Cash, and M-Pesa.
- M-Pesa is well established in Kenya
- Vodafone Pay operates in Egypt and Ghana
- VodaPay serves the South African market
Vodacom says its unified app strategy is transforming customer engagement by merging telecom, financial, and digital services into integrated super apps. The use of VodaPay is accelerating, aided by its integration with the MyVodacom app.
“These platforms promote financial and digital inclusion while enabling e-commerce for both consumers and merchants,” Vodacom stated.
Currently, Vodacom handles $1.2 billion in mobile money transactions per day, making it the leading provider of such services on the continent.In FY2025, its mobile payments platforms, including Safaricom, processed $450.8 billion, positioning Vodacom as the clear leader in African fintech.
With its growing subscriber base and fintech services reach, Vodacom is also leveraging large-scale customer data to enhance value management, customer loyalty, and personalization.
By analyzing more than 13,000 customer traits, the company is developing data-driven solutions that improve pricing competitiveness and increase financial inclusion — helping diversify its revenue streams.
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