In this week’s column, we profile Econet Wireless Zimbabwe Limited, as a constituent of the ZSE Top 10 Index. Prices and capitalisation figures are as at 23 March 2022.
Econet Wireless Zimbabwe is the country’s largest provider of telecommunications services, providing solutions in mobile and fixed wireless telephony, internet access and payment solutions. Econet launched its network on 10 July 1998 and listed on the Zimbabwe Stock Exchange on 17 September 1998. In 2009, Econet became the first operator in Zimbabwe to launch 3G mobile data. Today Econet is the biggest network in Zimbabwe.
The key subsidiaries and associates of Econet include EcoCash Holdings which is listed on the ZSE, 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.
Econet is the largest company by market capitalization on the ZSE with a market capitalization figure of $369 billion as at 23 March 2022. Econet share price has been one of the best performing prices on the bourse after recording capital gains of more than 70 percent for the period January 2022 up to 23 March 2022.
The company has also registered the highest traded value on the ZSE totaling $4.6 billion for the same period and the number of shares which exchanged hands was 42 million shares.
Econet has featured consistently in the ZSE Top 10 Index since its inception of the index in 2018. The counter is also a major constituent in the ZSE Top 10 Index and is also a major weight contributor to the following indices on the ZSE:
ZSE Allshare Index
ZSE Top 15 Index
ZSE Top 25 Index
ZSE ICT Index
Information provided in this article is for educational purposes and does not constitute financial advice. You should obtain independent advice from a registered stockbroker or financial advisor before making any financial decisions.
Please note that past performance cannot be relied on as an indication of future performance. It is important for all prospective investors to carefully consider their financial situation and consult a financial advisor or stockbroker in order to understand the risks involved and ensure the suitability of their situation prior to making any investment decision.
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