Tag: Econet Wireless Zimbabwe

[Download] Econet trading update for the period ending 31/08/20

Econet Wireless Zimbabwe has released a trading and performance update that covers the period ending August 31st 2020. Beyond giving as look into the figures, the report gives insight into the operating environment and the business’ performance. Here are some of the highlights from the report. Operating environment The first 8 months of the year […]

Mobile operators had over “500% losses” due to Zim currency crisis

The Post and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) released the abridged sector performance report for Q2 2020. The effects of the COVID-19 pandemic were palpable when it came to industries like the postal sector. The other inescapable force that affected the performance of the sector in Q2 was the deteriorating Zimbabwean economy. No sector […]

Econet data bundle prices set to be increased soon

Zimbabwe’s largest telecommunications company Econet will soon be increasing prices for data bundles. This is hardly surprising because Econet, for whatever reason, is the only mobile network operator that hasn’t yet increased data bundle prices. Telecel and NetOne both reviewed their prices for data bundles not long ago. In a report by the Herald, Econet […]

Econet has released new tariffs for calls, data and SMSs

Following Telecel and NetOne, Econet has released new prices for out of bundle voice, data and SMS. These prices take effect from the fourth of August: Dear Valued Customer Please note our Voice, Data & SMS out of bundle tariffs as per regulatory approval effective 4 August 2020. Voice – ZWL$0.0722 per second Data – […]

Econet giving customers 3 free minutes as an apology for service disruption

Econet has had a rough few weeks when it comes to technical issues. At the beginning of the month there was a nationwide black out of services and then on Friday some Econet customers reported experiencing service disruptions. As an apology for the latest disruption Econet posted the following: NOTICE TO CUSTOMERS Dear Valued Customer,Enjoy […]

Econet to shut down all shops from tomorrow because some employees tested positive for COVID-19

Econet Wireless released the following statement: NOTICE TO CUSTOMERS Dear Valued Customer, We regret to announce that some of our staff members tested positive to COVID-19 and are now quarantined. Strict measures around contact-tracing and testing have been taken on these cases as guided by the Ministry of Health and Child Care.There has been a […]

Econet is back, normal service restored

Econet seems to have worked out all the issues they were experiencing. Last night there was a nationwide blackout of voice and data services. Econet had last night said that their technicians were working to solve the problem. As of this morning, calls and data services were working. They released a press statement this morning […]

Econet is down!

Econet is down countrywide, according to ZimLive the outage happened as early as 5pm this afternoon. This outage is affecting calls, mobile data, and airtime purchases. ZimLive also tweeted a response they got from Econet regarding the nationwide outage “We are currently experiencing a technical challenge on our core network switch, which has affected voice […]

Econet Appoints Roy Chimanikire As New Deputy CEO

Econet Wireless Zimbabwe recently announced that Roy Chimanikire has been appointed as the Deputy Chief Executive Officer effective 1 April. Mr Chimanikire joined Econet in 2009 from Deloitte and was subsequently promoted to the position of Finance Director, a role Econet’s press material says he has “served with diligence and dedication”. Roy is also said […]

Econet Buys Back Strive Masiyiwa’s First Mobile Network, Mascom Of Botswana For $300 Million

At the time Strive Masiyiwa was battling to get a license to operate a mobile network in Zimbabwe in the late 90’s, he launched such a network in Botswana. Mascom became his first network operator and the only one that would bear his name: Masiyiwa Communications. Masiyiwa sold 14% of Mascom in 2004 amidst discontent […]

The Econet Demerger In 3 Simple Diagrams

So as we have already reported in an earlier article: Econet is going ahead with its demerger. The process is quite technical and we are here to do the hand holding. Nothing says simple like a picture so below are diagrams showing exactily what is going to happen to Econet.The de-merger is a multi-step process […]

Econet Launches Kwese TV in Zimbabwe

Local telecommunications operator, Econet Wireless Zimbabwe, last night launched their longly awaited media offering Kwese TV in Harare at an event attended by a number of local celebrities in the arts and culture industry as well as a number of people active in the local media ecosystem. The event was well attended as people came out […]

Kwese TV distributor accuses DStv of consumer exploitation. Kettles & Pots?

In the letter Kwese TV distributors wrote to the Broadcasting Authority of Zimbabwe seeking to have their licence restored, the company accused BAZ of protecting DStv. Dr Dish explains in the letter that DStv is enjoying regulator protection while exploiting Zimbabwean customers. The letter paints the picture that the current state of the TV market, where […]

Strive Masiyiwa is 33 on Fortune’s “World’s 50 Greatest Leaders” list

Embed from Getty Images Strive Masiyiwa, the founder of Econet Wireless Zimbabwe and its related companies in Africa (together forming one of the biggest telecoms group on the continent) has been named the 33rd greatest leader in the world in 2017 by Fortune Magazine. Fortune, a US based wealth magazine, that competes with Forbes and Bloomberg. […]

Econet makes changes to e-learning platform Ruzivo; adds Shona, Ndebele & other subjects & content is free

Plans to hack that away now suggests that perhaps users aren’t cosying up to it even though Econet has said “thousands” of users are signing up. If that’s the case, it would be a damper for Econet which needs all the Over the Top services revenues it can get as a telecoms operator.

Government considering bringing Econet shareholding back to Zimbabwe following rights issue controversy – Mandiwanzira

Econet’s US$130 million rights issue which was recently approved by its shareholder has attracted the attention of the government and could result in the revision of a shareholding arrangement that has allowed a chunk of the operator’s shares to reside outside Zimbabwe. In a recent hearing with the parliamentary committee on ICT, the Minister of ICT, Supa […]

It’s a lie that Econet paid its licence in full, part of the payment actually made by people of Zimbabwe – Mandiwanzira

Zimbabwe’s Minister of ICT, Supa Mandiwanzira recently told the parliament of Zimbabwe that contrary to what has been said repeatedly by Econet Wireless Zimbabwe about its licence payment fees, the mobile operator did not pay its licence its full and part of the payment was actually made by the people of Zimbabwe. While responding to a […]

Zimbabwean government used the Universal Services Fund to pay for Telecel acquisition

Supa Mandiwanzira addressing Parliament The Zimbabwean government used money from the Universal Services Fund (USF) to partly finance its acquisition of Telecel Zimbabwe. This information was shared by the Minister of ICT, Supa Mandiwanzira in an evidentiary hearing with the parliamentary committee on ICT held today. Responding to a question from the committee led by […]

Econet responds to tax evasion & transfer pricing scandal – dismisses allegations, says case is already before the courts

Econet Wireless, Zimbabwe’s largest mobile network operator (MNO) has come under some scrutiny regarding a tax evasion and externalisation scandal which alleges that the MNO deprived the country of up to US$300 million. The issue, which first drew attention in 2014 recently resurfaced after media reports, citing an audit report prepared in 2016, highlighted how […]

Zimbabwe’s mobile operators saddled with huge tax burden – Government takes 27.5 cents off every $1, another 5 cents to be added

Zimbabwe’s mobile network operators (MNO) have been facing a lot of criticism for the high cost of mobile data with the peak of this public outrage expressed in January when Econet Wireless, the country’s largest operator adopted a floor price strategy which raised the cost of data astronomically. The increase was eventually reversed after a […]

Econet defies ZSE directive, says bourse’s board has no jurisdiction & raises concern over chairman’s conflict

Econet Wireless Zimbabwe’s extraordinary general meeting (EGM) aimed at considering a proposed US$130 million capital raise through a rights offer will go ahead on Friday the 3rd of February 2017 despite a directive from the Zimbabwe Stock Exchange (ZSE) to postpone it until the operator clarifies certain issues. There has been some back and forth between […]

Here’s Econet’s full statement on the facility that will help local shareholders participate in its rights issue

If you are in Zimbabwe and are holding shares in Econet Wireless Zimbabwe you are probably relieved to know that the telecoms operator and the Reserve Bank have created a facility to help you take part in its US$130 million rights issue. Instead of paying into an offshore account, shareholders can use their bond notes […]

Econet’s share price drops by 40% due to proposed rights issue, extraordinary meeting set for this week

Econet Wireless Zimbabwe, the country’s largest and only listed telecoms operator had an extremely turbulent week marked by a significant fall in its share price. It closed the week ending on the 27th of January with a share price of 18 cents and a market capitalisation of US$163,677,319. The figure represents a decline of over US$100 […]

Econet turns to shareholders for a $130 million capital raise, asks for payments to be made offshore

Local telecoms company Econet Wireless Zimbabwe is looking to raise US$130 million in the local market through the issue of shares and debt as an arrangement to put together capital that will be used to clear foreign loans. It will, however, require shareholders to make the payments for the rights issue in United States Dollars directly to […]

Econet issues a statement on higher data prices – “We feel your pain”

Econet Wireless, the local mobile network operator that has been the first and so far only operator to adjust mobile broadband prices in line with the regulator’s directive has issued a statement on the issue. In a press release signed by CEO Douglas Mboweni, Econet says it is taking people’s feedback on the issue seriously and […]

Here are Econet Wireless Zimbabwe’s new prices for data, WhatsApp & Facebook bundles

These tariffs, effective from the 11th of January 2017 have effectively raised the cost of internet in Zimbabwe. They also mean some changes to WhatsApp and Facebook bundles, the two most popular broadband packages for local mobile network operators which have also gone up in price.

Steward Bank records $2.5 million profit in 2016 half year, supported by transactional banking, EcoCash & cash shortages

It’s not all decline and recession for local mobile operator, Econet Wireless Zimbabwe. For the financial year ended 31 August 2016, Steward Bank, Econet’s financial services institution record US$4.3 million in profit before tax, which was a 64% increase from the same period last year. This maintains Steward Bank’s positive growth turn and extends its profitable […]

Econet’s Kwesé TV secures an exclusive 19-country content deal with ESPN

Econet Media, the Econet Group’s entertainment subsidiary has announced a new partnership between its TV service Kwesé and sports entertainment brand, ESPN. Under the partnership, which comes into effect in early 2017, there will be an ESPN channel launched exclusively through Kwesé Sports in 19 African countries.  ESPN is also expected to produce its daily SportsCenter updates […]

Here’s how Econet Wireless Zimbabwe could benefit from Coca Cola & a global beverages merger

The Coca Cola Company recently gave notice of its plans to terminate its bottling deals with Delta Corporation and its associate, Schweppes Zimbabwe Limited. This comes after the regulatory approval of the $104 billion merger between Anheuser-Busch InBev NV/SA (AB InBev) and SABMiller Plc, which is also Delta’s largest single shareholder (It holds a 38% stake). Delta […]