Econet reports a stunning 265 percent rise in profits of $132m

Econet Wireless Zimbabwe’s profitability has jumped significantly from $36 million to $132 million for the year ended 28 February 2018. Revenue also jumped from $622m to $832m.

2018 2017 % Increase
Annual Revenue $622m $832m 33%
Profit for the year $37m $132m 265%
EBITDA $339.7m $224m 52%
Subscribers 11.4m 10.3m 11%

Said Econet Chairman, Meyers:

Econet has maintained its position as the leader in mobile telecommunications in Zimbabwe, fulfilling the promise made 20 years ago to provide world-class telecommunications to all the people of Zimbabwe. We celebrate this significant milestone by presenting these results which show just how far we have come.

This journey has seen us evolve from being a mobile voice telephony operator to become a fully-converged Telecommunications, Media and Technology (“TMT”) business that touches the lives of all Zimbabweans.

You can download the results PDF here.