Econet Subscribers Now 4.6 Million, Targets 5 Million By Christmas

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Econet Wireless Zimbabwe Interim ResultsThis week, Econet Wireless reached another milestone in its mission to consolidate its top position as the biggest (and most profitable) telecommunications company in Zimbabwe. The mobile operator has reached 4.6 million subscribers and aims to surpass the 5 million mark by Christmas.

On Friday last week, Econet also published its interim results for its half year to 31 August 2010. The results basically reveal a profit of US$62.786 million attributable to shareholders. Another interesting piece of information is that Econet has poured a huge investment of about US $122 million into telecoms infrastructure development in the period under review.

You can view the summary here and download the pdf here on the Econet investor page.

In the past two years, Econet has by far been the fastest growing mobile operator of the three registered operators in Zimbabwe. In second position is Telecel with just over a million subscribers. NetOne, the state owned mobile operator has the smallest number of subscriber with just over 500 000.



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8 Comments

  1. JamesM

    NetOne! Haven’t heard them in a long time, are they still around? This is a good candidate for foreign acquisition to bring the sort of competition that would obliterate Econet’s monopoly profits. There was talk of an MTN takeover but that’s all died down now no doubt a result of anticompetitive barriers to entry into the Zim market. These results/profits are a reflection of a shielded monopolist. Can we also see their results from operations in other African markets where they have a presence? Are they as impressive? Somehow I doubt it!

    Reply
  2. Brian

    A challenge to Econet – how about sorting out your existing customers before trying to set records – I have not been able to connect for about 10 days and thought I had run out of bandwidth – went and bought another 200 meg – got the sms to say thanks – but still can’t connect – then went to both Chisi and Borrowdale offices and were met with long queues – sent emails using TelOne dial up via ZOL – thats what I am on at the moment – and no response – wake up econet (sall e used on purpose) give us what we are paying for – really p’eed off now

    Reply
  3. Nizo

    We all need Jesus, the sad fact is that in such a short time the country has been flooded and indoctrinated with material wealth beyond our good and we have now been blinded by the greed that has replaced the once true and sincere hearts of a simple nation – Jesus, we have gone back to Egytpt, change our hearts and full them with your heart and remove our desire to have pockets that are full and hearts of stone….. Greed Vs the Cross of Jesus, ( All for the glory of God, – the end is near, may we turn back to him, and experience the freedom ) And Econet, do not proclaim or brand yourself with Biblical quotes or a banner of Godliness, for your own material game, you are deceived….

    Reply
  4. Colin

    I don’t think your fictional character will help. Besides, he is the greediest, money hungry entity in the world. (Oh and his dad)

    Reply

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