Vodacom has introduced Vision 2030, a five-year strategy aimed at achieving double-digit EBITDA growth—an upgrade from its previous high single-digit target.
CEO Shameel Joosub and CFO Raisibe Morathi outlined key growth drivers such as expanding customer base, improving cost efficiency, and reducing debt. Vodacom plans to add 50 million new subscribers, reaching 260 million by 2030, while also expanding its fintech user base by 35 million.
The company also expects smartphone penetration to rise from 63% to over 75% while aiming for over 32% revenue growth, surpassing R200 billion. Additionally, Vodacom seeks to reduce South Africa’s contribution to its operating profit from 59% to below 50%.
Vodacom's latest financial report showed a 1.6% revenue increase in Q4 2024, with Vodacom South Africa growing by 4.7% to R23.87 billion. Prepaid data revenue surged by 15.5%, driven by strong seasonal campaigns. The network experienced a 40.6% rise in data traffic and a 37% increase in average data usage per device.
Looking ahead, Vodacom plans to maintain a net debt-to-EBITDA ratio of 1.5× and invest up to R11.2 billion in South Africa this financial year, reinforcing its commitment to growth and digital transformation.
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