Vodacom Mozambique, one of the country’s leading mobile operators, reported improved operational performance for the 2026 fiscal year, which ended on March 31, with revenue from services and financial operations growing, despite a 1.5% decline in total revenue, according to the operator’s annual report and financial statements.
According to the financial report, cited by Lusa, Vodacom Mozambique’s service revenues grew 3.3% in local currency, signaling a more favorable performance compared to the previous fiscal year. The operator is part of an international group with a presence in Lesotho, Tanzania, the Democratic Republic of the Congo, South Africa, and Egypt.
Despite the growth in service revenue, Vodacom Mozambique’s total revenue decreased by 1.5%, falling from 20.7 million meticais (286.4 million euros) in the previous fiscal year to 20.4 million meticais (277.5 million euros) for the fiscal year ended March 31, 2026.
Conversely, average revenue per customer increased to 129 meticais (1.76 euros) per month as of March 31, 2026, compared to 124 meticais (1.71 euros) in the same period of 2025. At the end of the fiscal year, the operator had 11.6 million customers in Mozambique, keeping the country among the main markets for the group’s international operations.
Operational growth was accompanied by an expansion of network coverage. In March 2026, 4G population coverage reached 87.1%, slightly above the 87% recorded the previous year and well above the 25.2% achieved in 2020.
The network expansion also included solutions designed for remote areas. Vodacom Mozambique successfully completed a proof of concept using low-Earth orbit (LEO) satellites, in partnership with Starlink, enabling the connection of rural mobile stations in areas without fiber-optic coverage or conventional microwave links, which, according to the company, accelerates network expansion and enhances its resilience.
The mobile wallet financial services business also saw growth, with revenue increasing by 5.2% in the last fiscal year to the equivalent of 4.3 billion meticais (73.5 million euros). As of the end of March 2026, the service had 6.4 million customers in Mozambique enrolled in the M-Pesa mobile wallet.
In the previous fiscal year, which ended on March 31, 2025, Vodacom’s management described the Mozambican operation as having experienced a “challenging year,” attributing the performance to price adjustments and the post-election tensions that followed the October 2024 general elections. The company believed that an improved political and economic environment could support the operation’s recovery in the following fiscal year, a outlook now supported by growth in service revenues and improved operational performance.
Vodacom Mozambique has been operating in the telecommunications sector since 2003. Its majority shareholder is Vodacom International, with an 85% stake, while the remaining 15% is held by local partners: Empresa Moçambicana de Telecomunicações (1.99%), Intelec Holdings (6.5%), and Whatana Investments (also 6.5%).
Source: Lusa
