Econet Wireless Zimbabwe Posts Profit Turnaround, Revenue Rises to ZWG 22.2 Billion
Looking ahead, Econet plans to further integrate artificial intelligence across its operations to improve efficiency and service delivery.
Econet Wireless Zimbabwe Limited has outlined a major strategic transformation in its Integrated Annual Report 2025, following the successful completion of a Scheme of Reconstruction in 2024. The restructuring consolidated several fintech and digital service businesses—including EcoCash, VAYA Technologies, Econet Insurance, Econet Life, MARS Zimbabwe, and Maisha Health Fund—under the Econet Wireless Zimbabwe umbrella. The move is designed to strengthen integration, improve efficiency, and position the group for long-term growth and innovation.
The company delivered a strong financial performance for the year ended 28 February 2025. Revenue rose to ZWG 22.2 billion on an inflation-adjusted basis, up from ZWG 18.1 billion in the previous year. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased to ZWG 9.6 billion, reflecting a 10% year-on-year growth. Econet also reported a turnaround in profitability, posting a profit of ZWG 2.3 billion compared to a loss of ZWG 1.3 billion in 2024.
Fiscal contributions also rose significantly, with the company contributing ZWG 9.6 billion to the national fiscus, representing a 107% increase compared to the prior year. Capital expenditure increased by 50% to ZWG 3.5 billion, reflecting continued investment in digital infrastructure and network expansion.
Operationally, Econet strengthened its market leadership in Zimbabwe’s telecommunications sector. The company now serves 16.98 million registered mobile subscribers, maintaining a dominant 72.85% share of mobile subscribers and 80.89% of internet and data traffic. Its 5G rollout has expanded to 144 base stations, while broader network modernization efforts covered around 400 sites, including the commissioning of 77 new sites and refurbishment of 546 existing sites. Network population coverage is estimated at 93.86%.
Beyond its core telecom operations, Econet continues to advance its environmental, social, and governance (ESG) commitments. The company has deployed 282 solar-powered base stations and upgraded 467 battery systems to improve energy efficiency. It also created 1,023 direct jobs, with women representing 37% of the workforce and 32% of senior and managerial roles. In education and innovation, its Akello platform has reached over 90,000 learners with AI-enabled educational tools and coding resources, while biodiversity efforts include partnerships with conservation groups through initiatives such as the Econet Victoria Falls Marathon.
Looking ahead, Econet plans to further integrate artificial intelligence across its operations to improve efficiency and service delivery. The group remains focused on digital transformation, portfolio diversification, and sustainable revenue growth as it continues to evolve within Zimbabwe’s digital economy.
