Vodacom processed $548 billion in mobile money as fintech surges

Vodacom, a pan-African technology group, processed nearly $548 billion in mobile money transactions over the past year, signalling that the telecom giant’s future lies beyond phone calls and data bundles.

In a trading update for the quarter ended June 30, 2026, released on Monday, the company said its mobile money platforms, including Safaricom’s M-PESA, processed nearly $548 billion in transactions over the 12 months to June 30, 2026.

The milestone comes weeks after Vodacom completed its acquisition of an effective 20% stake in Safaricom, increasing its shareholding to 55% and giving it controlling ownership of East Africa’s largest telecom operator. While the South African-headquartered operator built its business on voice and data, its future growth strategy is now firmly centred on digital financial services across the continent.

Vodacom’s latest quarterly trading update reveals a company undergoing a profound transformation. The Safaricom transaction not only expands its geographic footprint but also accelerates its ambition to become a leading pan-African fintech player. 

According to the trading update, financial services now contribute more than 22% of Group service revenue, up from 13% before the transaction, while mobile money platforms processed nearly $548 billion over the past year. Those figures signal that fintech, not traditional telecoms, is becoming the company’s primary growth engine.

“This quarter marked a defining moment for Vodacom with the completion of our acquisition of a controlling stake in Safaricom,” said Shameel Joosub, Vodacom Group chief executive officer (CEO). “This strategically important transaction represents a major milestone in our Vision 2030 journey, significantly enhancing the Group’s scale, diversification and long-term growth…