About Econet Zimbabwe

Douglas Mboweni - Econet CEO

HARARE – Econet Wireless Zimbabwe is a diversified telecommunications group which launched its network on 10 July 1998 and listed on 17 September 1998. It is one of the largest companies on the Zimbabwe Stock Exchange in terms of market capitalisation.

The company continues to upgrade its network to carry more subscribers, and further widen its geographical coverage, which is already the most extensive in Zimbabwe.

Key subsidiaries and associates of Econet are Liquid Telecom, the largest internet service and access provider in Zimbabwe, and Transaction Payment Solutions, a leading provider of financial transaction switching, point-of-sale and value-added support services.

In terms of business model, Econet is now focused on transforming to become a fully-fledged digital services provider.

In its Trading Update for the quarter ending 31 May, 2021, the company said it is refining its business model to deliver innovative digital solutions to the needs of consumers.

Connectivity, gaming, music and digital customer support, are some of the key themes in our digital lifestyle campaign, reads part of the Trading Update.

In terms of performance for the quarter ending 31 May, 2021 Econet recorded a 77 percent increase in Data traffic as the Covid-19 pandemic forces more and more individuals and institutions to adopt remote working and communication.

Voice traffic volumes also increased by 25 percent from comparable prior year period.

Econet says its investment in network infrastructure “has positioned us to be the digital connectivity partner of choice for remote business operations, humanitarian and social connections.”

However, despite the need for more investment that allows the company to meet the increasing needs of customers, Econet says it has not been able to do so due to “challenges in accessing foreign currency.”

The company said greater investment is required in the ICT sector if the country is to realise the full potential it has to offer. 

“We remain as committed as ever to provide faster speeds and wider coverage in line with the POTRAZ Covid-19 relief programme through deployment of additional LTE sites as well as accessing additional 3G spectrum.” – Herald