60 5G Sites, 77 Base Stations, and 10 Rural Towers: Econet’s Infrastructure Push in Numbers

Econet Wireless Zimbabwe  has reported a resilient performance for the year ended 28 February 2025, driven by a comprehensive reorganisation of its Mobile Network Operator (MNO) and FinTech operations, ongoing network upgrades, and a sharp increase in data and voice traffic.

According to the Chairman’s Statement released alongside the company’s audited financial results, the strategic consolidation of Econet’s mobile and FinTech segments has unlocked operational synergies, enabling stronger digital service delivery and positioning the Group for future scalability.

Strong Traffic Growth Anchored by Network Investment

The mobile network business recorded 36% growth in data traffic and a 23% increase in voice traffic year-on-year, supported by significant infrastructure upgrades. Econet commissioned 77 new base stations, modernised 546 radio access sites, and upgraded 365 microwave links. In a bold step to extend broadband access, 60 5G sites were deployed in the final quarter of the year, enhancing connectivity for both urban and underserved areas.
In addition, 10 cost-efficient base stations were rolled out in remote rural regions, part of Econet’s ongoing efforts to bridge the digital divide. The Group also invested in power system enhancements to improve uptime and energy efficiency, critical in Zimbabwe’s challenging electricity environment.

Financial Performance and Hyperinflationary Context

In inflation-adjusted terms, Econet reported ZWG 22.2 billion in revenue, up 23% from the prior year, and an EBITDA of ZWG 9.6 billion, representing a 10% increase. The EBITDA margin softened slightly to 47%, reflecting increased investment in digitisation and AI integration to drive cost productivity.
The Group adopted IAS 29 for hyperinflationary economies in preparing its results, noting that users should exercise caution when interpreting financial statements under such conditions. The transition to the Zimbabwe Gold (ZWG) currency and the complexity of the economic landscape presented further reporting challenges.

FinTech Segment Shows Strong Momentum

Econet’s FinTech segment, consolidated into Group results following the acquisition of EcoCash Holdings Zimbabwe’s businesses in March 2024, showed strong upward momentum.

The mobile money platform EcoCash reported 21% growth in transaction volumes and an impressive 210% surge in transaction values, driven by wallet funding and remittance activity. The insurance businesses — Econet Insurance (Moovah), EcoSure, and Maisha Health — recorded 35% year-on-year revenue growth, with the life insurance arm achieving a 51% increase.

Capital Allocation and Dividend Declaration

Capital expenditure for the year reached 16% of revenue, slightly down from 17% the previous year, reflecting disciplined investment in long-term infrastructure. The company declared a final dividend of 0.73 US cents per share, bringing the total dividend for the year to 1.76 US cents per share.

Looking Ahead: AI, Innovation, and Platform Diversification

Econet plans to deepen its AI integration across operations to enhance efficiency, scale its product offerings, and safeguard margins. The Group aims to continue investing in digital transformation, pursue partnerships to expand its platform ecosystem, and bring new services to market that meet the evolving needs of Zimbabwean consumers.

“Our reorganisation efforts have begun to yield results, and we remain committed to strengthening our foundations while embracing the future. By investing in technology and staying focused on impact, we are building a resilient, digitally enabled business.”

-Dr. J. Myers, Chairman, Econet Wireless Zimbabwe 

Econet’s performance underscores the role of strategic reinvention and infrastructure-led growth in navigating a complex economic environment — and shaping the future of digital services in Zimbabwe and beyond.