Vodacom raised its medium-term EBITDA and operating free cash flow growth targets to early-teens growth after a strong June quarter and the June 30 completion of its Safaricom acquisition.
R42.4 billion in quarterly revenue rose 5.9%, or 11.4% on a normalised basis, while service revenue grew 6.3% and 12.6% normalised as Egypt remained the standout market.
Egypt service revenue jumped 32.8% in local currency and Egyptian financial services revenue climbed 73%, helping group financial services revenue increase 17.8% to R4.5 billion.
The R36 billion Safaricom deal lifted Vodacom's stake to 55%, giving it control of M-Pesa and expanding its reach into Kenya and Ethiopia.
That broader footprint prompted Vodacom to raise its Vision 2030 revenue ambition to more than R300 billion from more than R200 billion, with financial services now expected to contribute over 22% of group service revenue.