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Safaricom acquisition turns fintech into Vodacom’s biggest growth engine
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AfricaNewsAnalysis
“With control moving to Vodacom, Safaricom will shift from being treated as an associate to being fully consolidated under IFRS.
Joshua argues the accounting change materially alters Vodacom’s financial profile.
The platform also introduces AI-powered personalisation that recommends bundles, merchants, and financial services based on customer behaviour, location, and usage patterns.
The consolidation of Safaricom significantly expands that footprint, reinforcing fintech as one of Vodacom’s largest strategic growth engines.
Group service revenue increased 6.3% to R34.3 billion (US$2.1 billion), while financial services revenue rose 17.8% to R4.5 billion (about US$270 million).