Listed telecommunications giant, Econet Wireless Zimbabwe, has extended its mobile data market leadership and consolidated its position as a leading digital service provider, latest industry statistics show. According to the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz)’s 2020 fourth quarter sector performance report released on Tuesday, Econet’s mobile Internet and data traffic market share...
Low-carbon electricity company Électricité De France (EDF), and Distributed Power Africa (DPA), a company of the pan-African group Econet Global Limited, have entered into a joint venture to develop and deploy renewable energy solutions for commercial and industrial customers in Kenya. On 25 February EDF acquired a 50% stake in Econet Energy Kenya, a subsidiary...
TELECOMMUNICATIONS giant, Econet Wireless Zimbabwe, says its massive investment in network connectivity is adding value to the economy as more businesses and individual communities embrace online operations. The wide Econet data network has come in handy in keeping businesses and communities going despite the Covid-19 lockdown restrictions, which have frustrated traditional manual operations, said the...
Management at Zimbabwe’s Econet Wireless is confident that the company will be able to pay off its debt obligations and remain with adequate equity reserves after undertaking a share buyback scheme for which it will seek shareholder approval at next month’s virtual AGM. The company is already in a precarious position, with local shareholders likely...
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...
