Tag Archives: Econet Wireless Zimbabwe

Econet secures $150 million for expansion

August 6th, 2014

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It has been reported that Econet Wireless Global has secured a $150 million financing facility to enable its expansion program. In an announcement from Export-Import Bank (Afreximbank) the institution that arranged the facility Econet will use the facility to expand in mobile banking and solar energy and also to refinance existing debt which has been [...]

Exciting presentations lined up for 2014 Broadband Forum

May 28th, 2014

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Its 8 days to go until Zimbabwe’s 2014 Broadband Forum which will be a meeting point for thought leaders and contributors of broadband infrastructure and services as whole. Seven speakers will be making rich presentations covering a diversity of topics that emphasise the current broadband landscape, the opportunities and impact in Zimbabwe and on the continent. The speakers [...]

Econet Results: Data and EcoCash revenues growing, overall revenue growth slows

May 5th, 2014

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Econet today released their financial results for the year ended February 2014. The results indicate that Econet Wireless posted $119.4 million profit which is definitely impressive, in an economy like ours. Whilst overall key indicators like revenue showed weak growth, Data and EcoCash revenues were the most impressive indicators for Econet. As expected, data revenues [...]

Econet Wireless Zimbabwe posts firm results with dividends for shareholders

May 5th, 2014

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Econet Wireless Zimbabwe announced its financial results today for the period ending February 2014. The financial services and telecoms company is the country’s largest mobile services provider by subscriber number and provides a host of services through its network and financial institution, Steward Bank. After tax profit for the period stood at $119.4 million. $20 million [...]

EcoCash boasts of having handled transactions worth over $4 billion to date

April 11th, 2014

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  Econet Wireless Zimbabwe says that its mobile money transfer service, EcoCash, has handled transactions in excess of $4 billion since the service was introduce in 2011.This was highlighted by Econet’s group CEO Douglas Mboweni to parliamentarians at a familiarisation tour of the company yesterday. This impressive figure was achieved though 170 million transactions handled [...]

Econet Zimbabwe banks on EcoCash mobile money to create shareholder value

September 19th, 2013

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At the company’s AGM recently Econet Wireless Zimbabwe explained to shareholders that the group is looking to services such as the mobile money service, EcoCash, for continued profitability and new value for shareholders. According to a report by local financial analysis email service, Financial Express, Econet Wireless Group Chief Operations Officer Tracy Mpofu said at [...]

Press Release: Econet reaches 8 Million customers

January 14th, 2013

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The festive season once again saw a bumpThe festive season once again saw a bumper rise in Econet subscribers with the company reporting that it has crossed the 8-million level for the first time, supported by the recent introduction of Buddie Zone. Econet Wireless Commercial Director Mr George Barbaressos confirmed the new figures, saying the demand for Econet lines remains “very, very strong”.er rise in Econet subscribers with the company reporting that it has crossed the 8-million level for the first time, supported by the recent introduction of Buddie Zone.

Press Release: EcoCash now in OK Zimbabwe Limited stores

December 17th, 2012

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Zimbabwe’s largest supermarket chain, OK Zimbabwe Limited, has become the first major retailer to be connected to EcoCash, Econet Wireless’ mobile money service. OK has assumed an EcoCash “Super-Agent” status, and will be performing agent services for EcoCash throughout its branches across the country. Under this partnership, every OK outlet will now register customers for EcoCash and also perform cashing in and cashing out functions for EcoCash.

Thank you. Yes, you.

December 14th, 2012

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It’s been a great year for us. It has.

Traffic for the site more than continues upwards. The visitor engagement on the site, one of the things we value most here, increased significantly. With the help of some selfless individuals, Techzim answers is delivering locally relevant tech answers much better than it did a year ago. We delivered some great events. Some directly, and some in partnership with some amazing people and organisations.

Press Release: Econet Wireless Zimbabwe appoints new chairman

December 12th, 2012

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Veteran American telecoms executive Dr James Patrick Myers has been appointed the new Non-Executive Chairman of Econet Wireless Zimbabwe to replace Tawanda Nyambirai, who stepped down this week. Dr Myers is a retired former Vice President for Africa of South Western Bell, now part of AT&T, the world’s largest telecoms company by value. He also served as the President of Southwestern Bell International Development Africa (Pty) Ltd from 1985 to 1998 and also served as its Executive Vice President from 1994 to 1995.

Econet hires former M-PESA top talent for EcoCash

October 17th, 2012

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When we attended the EcoCash tour yesterday, two developments at the company stood out: A new hire, former Safaricom executive Japhet Aritho (Head of M-PESA Product Development and Operations) has joined the EcoCash team as Chief Operating Officer of Econet Services. And yes, Econet Services. The company that we had not heard about before yesterday [...]

A big thanks to sponsors & partners of BarCamp & the Challenge

September 19th, 2012

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This year, again, BarCamp Zimbabwe and the ZOL Jumpstart Challenge were a success. A big success. While BarCamp was held at the same venue as last year, we decided to take it outside and what a refreshing atmosphere full of networking, learning, mobile talk, gadget talk, discussions about mPayments, cloud computing, social media and everything that we [...]

Econet to terminate interconnection with Zim government owned operator NetOne

August 23rd, 2012

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Econet Wireless Zimbabwe has issued a public notice that the company will terminate mobile network interconnection services to the state owned mobile operator NetOne today, 23 August 2012. The notice, which was published in Zimbabwe’s print press today, cites the repudiation of their interconnection agreement by NetOne as the reason. As you may be aware, [...]

Econet owed $85m by NetOne & TelOne. About sharing infrastructure, USF

July 18th, 2012

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Today, the Econet CEO, Douglas appeared before the Parliamentary Portfolio Committee on Media, Information and Communication Technology on ICT. The appearance was for discussion on various issues ranging from tariffs, infrastructure sharing, future investment in telecoms and network rollout amoung other issues. We (and now you) have been lucky enough to receive a detailed report in [...]

Econet Solar’s home power station. Some thoughts

June 26th, 2012

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Econet Wireless recently announced Zimbabwe as the first commercial site for its highly acclaimed solar powered ‘Home Power Station’ (HPS), this according to a report on the mobile phone company’s website. The announcement is welcome news in a country characterised by chronic load shedding and power failures. Econet’s Corporate Communications Manager Ranga Mberi confirmed to [...]

Econet Wireless Zimbabwe prepares to launch EcoCash merchant services

June 4th, 2012

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Econet has started an advertising campaign for the introduction of merchant services on the EcoCash mobile money transfer system. The adverts, which started appearance recently in Zimbabwe’s newspapers, indicate that the additional services will be launched very soon. Here’s some of text appearing in the adverts: Very soon you’ll be able to: Pay your kombi [...]

Econet Wireless Zimbabwe announces completion of US $307m funding

May 24th, 2012

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Econet Wireless Zimbabwe has today announced through a press statement the completion of  agreements for funding totalling US $307 from multiple financiers among which are Chinese, European and African institutions. The long list of financiers includes China Development Bank, Ericsson (Sweden), Industrial Development Corporation (South Africa), Afreximbank (African), PTA Bank (Africa), TN Bank (Zimbabwe), CBZ (Zimbabwe), DEG [...]

Trustco seeks to have Econet directors jailed for 90 days over Ecolife

May 19th, 2012

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The Ecolife case, now a thorn in Econet’s side, is not over yet. The main headline on the Herald front page today reads “Econet bosses face arrest”. The story basically says Trustco is mad that Econet is ‘getting away with murder’ and they are seeking, through the courts, to have Econet chairman Tawanda Nyambirai, deputy FD Roy Chimanikire and CEO & director Douglas Mboweni jailed for 90 days.

Econet Wireless Zimbabwe annual profit rises 18% to US $166 million

April 24th, 2012

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Econet Wireless Zimbabwe, the country’s largest telecoms firm, announced today its full year financial results for the period ended February 2012. An update posted by Bloomberg the company’s annual profit after tax has risen 18% from US $140.9m last year to $165.7 million this year.

Here’s a summary of other announcements made at the briefing today:

LinkedIn Africa Stats: Zimbabwe sitting in 11th position

February 27th, 2012

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According to statistics published by zoomsphere, a social media analytics platform ,Africa has 5 772 194 registered users on LinkedIn. The information is as of February 27 2012 and digs into each African country’s most active companies by members and activity. Zimbabwe is understood to have 103 400 registered members, making it the 11th biggest Linkedin user base in Africa. The top twenty countries on the continent are as follows:

With Truscto agreement expired, Econet kills Ecolife

February 21st, 2012

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Today, Econet Wireless Zimbabwe announced in a public notice that as the Ecolife agreement with Trustco has expired, the mobile operator is unable to continue offering the mobile life insurance product. Econet says it will honor any claims from beneficiaries entitled to the cover as at midnight 17 February 2012.

Econet Wireless Zimbabwe to launch VoIP

January 25th, 2012

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Just when everyone had agreed that Econet and the other GSM mobile operators are scared of VoIP, the largest telecommunications firm in Zimbabwe has come out to launch that very service. Tomorrow, Econet Wireless Zimbabwe will launch Econet VoIP (Voice over Internet Protocol) at an event to be held in Harare.

eTXT service gets ForgetMeNot Africa an AfricaCom award nomination

October 11th, 2011

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ForgetMeNot Africa, the developers of the technology powering Econet’s eTXT service, have been nominated for an AfricaCom award in the Best New Service category.

The FMNA’s technology is called Message Optimiser and has been deployed by a total of 6 operators across Africa. Message Optimiser also powers the Dasuba service also available locally and across continent.

Econet vs Trustco: High Court hands down interim order against Econet

July 26th, 2011

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We’ve just received news that the High Court of Zimbabwe handed down an interim order against Econet in response to Trustco’s application for an interdict last month. The interdict sought to enforce Econet’s compliance with the Ecolife contractual obligations and to prohibit the company from infringing on Trustco’s intellectual property apparently by deploying the same concept. Econet itself had indicated they were working on their own Ecolife system to replace Trustco’s.