Dar es Salaam. Vodacom Tanzania announced a 20.5 per cent increase in service revenue to Sh1.5 trillion for the fiscal year ending March 31, 2025. The company’s net profit after tax rose by 69.4 per cent to Sh90.5 billion, according to financial results released at its Annual General Meeting.

The growth was driven by a significant increase in customer numbers, with the company adding three million new users to reach a total of 22.6 million. M-Pesa, Vodacom’s mobile money service, saw a 29.3 per cent revenue increase, while mobile data revenue grew by 21.6 per cent.

Vodacom’s Managing Director, Philip Besiimire, stated that the company’s performance reflects its strategy of expanding digital and financial inclusion. 

“Our performance this year reflects the strength of our strategy and our unwavering commitment to connecting Tanzanians to a better future,” he said. “Through innovation and partnership, we are bridging the digital and financial divide.”

The company’s M-Pesa service remains a key player in Tanzania’s mobile money market, which had 65.7 million registered accounts by March 2025. Vodacom’s M-Pesa holds over 26 million of these accounts.

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Vodacom also expanded its 4G network, deploying 471 new sites, including 126 in collaboration with the government’s Universal Communications Service Access Fund (UCSAF) to serve rural areas. This contributed to a 33.4 per cent increase in smartphone penetration.

New services such as M-Koba, a group savings platform with 1.3 million users, and M-Wekeza, a mobile wealth management product, also contributed to the company’s growth. The “LIPA kwa simu” digital payment platform processed over Sh1 trillion monthly, and short-term loans and overdrafts disbursed over Sh3 trillion.

Board Chairman David Tarimo noted that the results reflect the trust of customers and shareholders. 

“As we celebrate 25 years of positively impacting lives in Tanzania, we remain focused on delivering sustainable growth and purpose-led transformation,” he said. “Our results affirm the trust our customers and shareholders place in us.”

Looking ahead, Vodacom plans to continue investing in network expansion and digital inclusion, in partnership with the government.

Tanzania’s mobile money market has grown by 120 per cent over the last five years, from 29.8 million accounts in 2020 to 65.7 million in March 2025. This growth has been a key factor in the country’s efforts to increase financial inclusion.