Articles tagged 'econet wireless'

SmarTech pushes Econet revenue up 8 November 2018 HARARE - Econet Wireless Zimbabwe Limited (EWZL) has announced $600 million dollars in half-year revenue to 31 August 2018, up from $ 353 million in the same period last year, on the back of a strong performance by its SmarTech business unit. The conglomerate, which is well on its way to becom...
Zim endures 5-hour Internet blackout 6 December 2017 HARARE – Internet users suffered nearly six hours of downtime yesterday after service providers suffered a major fibre outage. The country is estimated to have lost millions of United States dollars in revenue, as a result, since most of the communication is now being done through the Internet...
ZCTU slams govt over Kwese TV 30 August 2017 HARARE - Zimbabwe's largest trade union federation, Zimbabwe Congress of Trade Unions (ZCTU), has slammed government for denying Kwese TV — owned by Strive Masiyiwa — a broadcasting licence. This comes after the Broadcasting Authority of Zimbabwe (Baz) has declared the Econet Group's pay telev...
Econet in bid to raise $130m 19 January 2017 HARARE - Zimbabwe's leading mobile telecommunications company, Econet  Wireless, is seeking to raise $130 million, through a rights issue, as a way of servicing its loans. Econet yesterday said the move was necessitated by the current liquidity and cash crises, which have resulted in local fir...
Liquid Telecom acquires Neotel 17 December 2016 HARARE - Econet Wireless Group (Econet) subsidiary, Liquid Telecom (Liquid), has acquired South African communications network operator, Neotel, in a $431,5 million deal that received its final regulatory approval this week. Liquid chief executive, Nic Rudnick, yesterday said the move — which ...
Econet subscribers hit 10m 28 October 2016 HARARE - Zimbabwe's largest mobile telecommunication firm by assets and investment, Econet, has grown its subscriber base to over 10 million, latest data show. Statistics released by the Postal and Telecommunication Regulatory Authority of Zimbabwe (Potraz) on Tuesday revealed that Econet subs...
Econet moves to ease cash shortages 29 April 2016 HARARE - Zimbabwe's largest mobile telecommunication group Econet Wireless (Econet) says it has introduced an airtime credit service via its mobile money division in a move aimed at easing the acute cash shortages. The country has been experiencing a biting cash shortage since early March with...
Econet ventures into security industry 10 March 2016 HARARE - Zimbabwe's largest mobile telecommunications group Econet Wireless has ventured into the security industry following the launch of its 'connected home' service that brings together security and energy management under a single internet-based platform. The product known as Econet Conne...
Econet restructuring pays off 24 August 2015 HARARE - Zimbabwe's largest mobile telecommunications operator by subscriber base, Econet Wireless (Econet), says its recent restructuring exercise is now paying dividends. The group's chief executive, Douglas Mboweni, said the Zimbabwe Stock Exchange-listed company was now poised for growth a...
Econet asks suppliers to cut prices 8 July 2015 HARARE - Zimbabwe's largest mobile telecommunications company by subscriber base, Econet Wireless (Econet) has asked most of its local and international suppliers to cut the prices of their supplies to the company by more than 15 percent. The measures, which are part of Econet's cost-cutting d...
Econet declares $15m dividend 2 June 2015 HARARE - Zimbabwe's largest mobile telecommunications company by subscriber base, Econet Wireless (Econet), will pay out a whopping $15 million to shareholders this year. This comes after the mobile giant registered a $70,2 million profit in the full year to February 2015 under a very difficul...
Is this about Steward Bank? 30 March 2015 HARARE - Apart from the fact that the matter is still before the courts, and therefore sub judice, I also don't know enough about the case in which Steward Bank successfully applied to the courts last week to be granted authority to search and seize documents from online business news agency, The...
Raid on newsroom justified: Nyambirai 28 March 2015 HARARE - The legal counsel for Econet Wireless' banking subsidiary Steward Bank, Tawanda Nyambirai, says Thursday's raid on online news agency, The Source, was justified. Nyambirai, together with Steward Bank's acting chief executive officer, Lance Mambondiani, addressed a chaotic Press confer...
Masiyiwa, Buyanga flying Zim flag high 7 February 2015 HARARE - Although Zimbabwe is in the economic doldrums, a few distinguished and enterprising citizens continue to make waves on the continent in the world of business, and management. These feted Zimbabweans include Econet Wireless founder Strive Masiyiwa and controversial businessman Frank Bu...
Econet, Ericsson in five-year deal 25 November 2014 HARARE - Econet Wireless (Econet) — Zimbabwe’s largest mobile company — has awarded Swedish communications technology and services provider, Ericsson, a five-year contract to upgrade its network. The deal, whose worth was undisclosed,  will see Econet upgrading its current 2G/3G/4G/LTE network...
Econet acquires TN Medical 30 October 2014 HARARE - Econet Wireless Zimbabwe Limited (Econet) has wholly acquired TN Medical — owned by the group’s former chairman Tawanda Nyambirai — for an undisclosed amount. This comes as Econet last year took over Nyambirai-founded TN Bank Limited, now Steward Bank, after increasing its stake in th...
Econet targets 21pc subscriber growth 14 July 2014 HARARE – Econet Wireless (Econet) – Zimbabwe's largest mobile network operator – plans to grow its contract subscriber base by 21 percent during its financial year ending February 2015. Currently, the telecoms firm has around 70 000 contract subscribers. Its chief commercial and customer se...
Econet posts $119m profit 7 May 2014 HARARE - Econet Wireless (Econet), Zimbabwe’s largest mobile network operator, recorded a $119 million profit after tax in the year to February 2014. The earnings were 14 percent down from $140 million realised in prior year as voice income remained flat. The telecommunications group, which...
Innovation spurs Econet 31 October 2013 HARARE - Zimbabwe's largest mobile network operator, Econet Wireless (Econet), recorded an 11 percent increase in revenue to $377 million in the half year to August 2013, spurred by non-traditional innovative products. The group said traditional voice revenues were maturing and the introductio...
Banks face tough test 22 October 2013 HARARE - Econet Wireless's EcoCashSave service is likely to be a game-changer for Zimbabwe's banking sector, in a country where more than half of its population remains unbanked. The innovative product, which allows customers to use their mobile number as a bank account  and earn a four percen...
Thumbs up to Masiyiwa 10 October 2013 EDITOR — Coalition Against Corruption (CAC) the leading anti corruption organisation pressure group in Zimbabwe commends the founder of Econet Wireless Strive Masiyiwa for speaking out on the scourge of  corruption in Africa. In a statement appearing on his official  Facebook page entitled “Ho...
Econet ventures into insurance 2 October 2013 HARARE - Zimbabwe's largest mobile telecommunications company Econet Wireless (Econet) has ventured into the insurance sector to assist small scale farmers. Agriculture experts say the move by Econet — to develop a weather-indexed drought insurance service which allows farmers to make a financ...
Econet disconnects Telecel 26 July 2013 HARARE - Zimbabwe s largest mobile phone operator Econet Wireless Zimbabwe (Econet) has barred Telecel Zimbabwe (Telecel) from its network because the latter is yet to renew its operating licence. This means that Telecel subscribers may not make voice calls to Econet users, even though the latter...