Econet Posts Strong Half-Year Performance Revenue Climbs 38%

Econet Wireless Zimbabwe has announced a robust set of interim results, with revenue surging by 38% to ZiG13.5 billion for the half year ending August 31, 2025. This marks a significant jump from ZiG9.74 billion recorded in the same period last year, driven by increased usage across its core services.

The telecommunications giant, which operates in mobile network services, mobile financial services, and insurance, continued to consolidate its position as the market leader.

Group chairman, Dr James Myers, said mobile network operations remained the backbone of the business, contributing 82% of total revenue. Mobile financial services and insurance accounted for 14% and 4% respectively.

“The performance underscores the impact of sustained investment in our network infrastructure. Data usage doubled over the period, while voice traffic rose by 34% compared to last year,” Dr Myers said.

This growth was facilitated by ongoing network upgrades and modernization projects. The group allocated 12% of its revenue to capital expenditure, focusing on improving connectivity and service reliability.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) remained strong at over 45%, a stability Dr Myers attributed to strict cost control measures.

In the fintech space, EcoCash continues to expand its footprint. Transaction volumes on the mobile money platform climbed by 35% year-on-year, reflecting improved access and uptake.

“Our efforts to broaden mobile money availability since August 2024 have paid off, boosting customer engagement and service usage,” he said.

On the insurance side, Ecolife recorded a 50% rise in individual life policies, as the company’s InsurTech arm continues to focus on offering affordable, adaptable insurance solutions for its customer base.