ECONET Wireless is seen narrowing losses this financial year before returning to profitability next year as stability in the exchange rate is expected to reduce foreign currency exchange looses, a research firm has said. During this financial year, which ends in February, profitability is likely to remain under pressure as the group has already accrued...
Rising e-commerce transactions in Zimbabwe have boosted SMS service volumes for mobile operator Econet Wireless which also reported a 90% surge in data traffic for the quarter to the end of November. Econet is the biggest telecommunications operator in Zimbabwe and competes against Telecel and NetOne in the mobile market. The company explained on Thursday...
Zimbabwe’s largest mobile network operator, Econet Wireless, has revised its voice, data and SMS bundle prices upwards by an average 20 percent, in an effort to recover value reportedly eroded due to currency devaluation and other rising costs of key network inputs. The mobile operator incurred exchange losses of $10,3 billion in the half-year to...
Data now contributes nearly a third of earnings for Econet Wireless, and 28% to the company’s overall revenue. Although revenue for the half year to the end of August of ZWL10.1-billion is down from the ZWL10.8-billion for the same period last year, Econet has seen its data capacity balance out the loss occasioned by economic...
Google’s parent company, Alphabet, in collaboration with the Econet Group, is preparing to launch a new high-speed broadband technology service based on laser beam technology rather than fibre optic infrastructure. Roll out is scheduled for 2021 in Zimbabwe, with plans to extend the service to other Sub-Saharan countries. In a statement, Econet said the new...
Zimbabwe’s biggest mobile company, Econet, is pushing for a review of duties payable on imports of smartphones to boost adoption and internet usage. The country has experienced a rise in its internet penetration rate to over 50%, and according to the Posts and Telecommunications Regulatory Authority of Zimbabwe (Potraz), WhatsApp and Facebook bundles account for...
Econet Telecom Lesotho (ETL) has been slapped with a M1, 5 million fine by the Lesotho Communications Authority (LCA) for the late submission of its licence renewal application. The renewal application is supposed to be filed at least two years before the expiry of a licence. ETL’s licence was supposed to have filed its application...
Econet Telecom Lesotho has completed a circle of innovation by introducing airtime conversion to the EcoCash wallet. This was revealed by Econet’s acting General Manager: Econet Services, ‘Makatleho Raphoolo at the product launch in Maseru this week. Ms Raphoolo said Econet first launched ‘buy airtime with EcoCash’ as one of the mobile money’s basic functions...
Zimbabwean mobile operator Econet Wireless on Monday sought a court order to suspend a police warrant seeking information on its transactions because this would violate the privacy of the company and millions of its subscribers. The police on Friday requested Econet, which has more than 11 million subscribers, to hand over details of its mobile money...
Zimbabwe’s police have accused Econet Wireless, the country’s dominant mobile phone company, of money laundering, demanded a list of its subscribers and issued a search warrant against it. The move escalates a clash between the government and company whose money transfer service facilitates the bulk of transactions in the Southern African country. The government says its...
