Safaricom’s growing contribution to Vodacom’s earnings comes with a heavier debt burden

In brief

Vodacom Group’s earnings have expanded sharply following its consolidation of Safaricom, but results from Airtel Africa and MTN Group show that the wider telecommunications industry is also generating stronger returns from data, mobile money and operating efficiencies. Vodacom increased earnings before interest, taxes, depreciation and amortisation (EBITDA) by 40% to R42.7 billion (US$2.6 billion) in …