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Introduction
Our governance
Our business
Our capitals performance
Additional financial information
Administration
Consolidated financial statements
Separate financial statements
Addendum A:
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Vodacom Group Limited
Integrated report
for the year ended 31 March 2025
Year in review Arrow down

Welcome to our reporting suite

Our reporting suite aims to meet the diverse information needs of Vodacom Group Limited’s (Vodacom’s or the Group’s) stakeholders. This enables the Group’s stakeholders to fairly assess our financial and ESG performance for the financial year ended 31 March 2025 (FY2025).

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Saki Macozoma Saki Macozoma
Shameel Joosub Shameel Joosub
Raisibe Morathi Raisibe Morathi
Phuthi Mahanyele-Dabengwa Phuthi Mahanyele-Dabengwa
Khumo Shuenyane Khumo Shuenyane

Chairman’s statement  Download Download icon Download icon

Saki Macozoma As Vodacom successfully concluded the Group’s Vision 2025 strategy, we delivered a strong performance for FY2025, connecting 211.3 million customers and advancing digital and financial inclusion across our footprint. Vodacom’s purpose-led approach is key to our ongoing success.

Corporate governance report Download icon Download icon

CEO’s statement  Download Download icon Download icon

Shameel Joosub As we conclude our five-year strategic phase, Vision 2025, I am filled with a sense of pride and gratitude for all that we have achieved. Vision 2025 embodied a clear purpose – to connect for a better future – helping shape our organisational mindset to positively impact society, while delivering shareholder value.

CFO’s statement  Download Download icon Download icon

Raisibe Morathi As we conclude the Vision 2025 strategy, I reflect proudly on the progress we have made over the past five years in diversifying Vodacom’s geographic reach and product portfolio.

RemCo Chairman’s letter  Download Download icon Download icon

Phuthi Mahanyele-Dabengwa On behalf of the Board, I am pleased to present an extract of Vodacom Group’s FY2025 remuneration report. This report includes our remuneration philosophy and policy for executive directors and non-executive directors (NEDs).

Remuneration report Download icon Download icon

Social and Ethics Committee Chairman  Download Download icon Download icon

Khumo Shuenyane Vodacom’s purpose affirms its commitment to supporting an inclusive, sustainable and trusted digital society where people and businesses can thrive – even in challenging times. By leveraging connectivity and technology, the Group seeks to empower people, protect the planet and maintain and enhance stakeholder trust.

ESG report Download icon Download icon

Our value creation in practice

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FC
Financial capital
ROCE of
23.5 %
FY2024: 23.1 %
IC
Intellectual capital
Served
87.7 million
financial services customers
FY2024: 78.9 million
MC
Manufactured capital
R20.3 billion
capital investment in network capacity and resilience
FY2024: R20.4 billion
SRC
Social and relationship capital
Launched TechStart to upskill
One million
youth
HC
Human capital
41.2 %
of management and senior leadership roles are held by women, up from 39.3%
NC
Natural capital
67 %
reduction in scope 1 and 2 market-based GHG emissions
FY2024: 28% reduction
100 %
of network equipment sent for reuse, reselling or recycling
FY2024: 93%
Value creation banner image
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Invesment case map
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Our investment case

1
Meaningful growth opportunities exist in our markets across connectivity, digital and financial services
Today FY2030projection Population coverage 650 million 574 million >120 million FinTech customers 88million >75% Smartphone penetration 64% >260 million Customers 211million
2
Our market leadership supports attractive ROCE
3
We are an infrastructure and asset owner
4
We are a responsible corporate citizen

Our strategy is evolving

A strong finish to Vision 2025 as we evolve the System of Advantage

Accelation opportunities sVG
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Our strategic evolution – the System of Advantage

Our strategy – the System of Advantage – is evolving but continues to be driven by our purpose. Following the successful conclusion of Vision 2025, we are transitioning to Vision 2030. During FY2025, we assessed our strategic ambitions and reframed them as three strategic imperatives to ensure they remain fit for purpose as we enter our next growth phase. While fundamentals within our strategy remain consistent, we have refined our 10 strategic pillars to seven strategic priorities to better articulate how we will manage our business going forward. These shifts account for changes to our operations internally, as well as changes in our broader operating context.

Interactive Evolving to Vision 2030 Positioned to accelerate growth

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Introduction
Our governance
Our business
Our capitals performance
Additional financial information
Administration
Consolidated financial statements
Separate financial statements
Addendum A: