Econet Wireless Sets New Pace for Telecom with AI, Rural Network Boost, and FinTech Upswing
The company’s focus on modernising network infrastructure, expanding financial technology services, and embedding Artificial Intelligence into its operations is driving both customer engagement and shareholder value.
Econet has posted a positive trading update for the quarter ended 31 May 2025, marking continued progress in its strategic shift toward a digital services-led business model. The company’s focus on modernising network infrastructure, expanding financial technology services, and embedding Artificial Intelligence into its operations is driving both customer engagement and shareholder value.
The quarter saw a notable expansion in network capacity, including the deployment of 20 new sites and a 100-site extension of 5G coverage across Zimbabwe. Additionally, Econet introduced 10 lightweight, cost-effective base stations aimed at improving connectivity in underserved and rural areas. These efforts contributed to a sharp increase in data traffic, alongside AI-powered insights enabling more tailored customer services.
Financial performance remained steady, with strong year-on-year growth in data and voice volumes. Data traffic more than doubled, while voice usage rose by 44 percent, reflecting increasing demand for connectivity across the country.
The FinTech segment also delivered strong results. EcoCash wallet services recorded a 22 percent increase in customer activity and a 27 percent rise in transaction volumes, driven by a significant 110 percent growth in wallet funding. The Group’s insurance units also posted impressive gains: EcoSure life insurance policies grew by 43 percent, Moovah short-term policies rose by 69 percent, and Maisha medical aid membership nearly doubled with a 92 percent increase.
In recognition of this performance, the Board declared an interim dividend of 0.63 US cents per share for the quarter.
Looking ahead, Econet remains confident in the outlook for both its mobile and financial technology businesses. With rising data consumption, broader financial inclusion, and ongoing investment in innovation, the company is well-positioned to sustain growth and enhance service delivery across its markets.
