Econet Zimbabwe

Last updated

Econet Zimbabwe
Company type Public
Template:ZSE
IndustryTelecommunications
FoundedJuly 1998
Founder Strive Masiyiwa
HeadquartersMsasa, Harare,
Zimbabwe
Increase2.svg ZWG9.6 billion (2025)
Parent Econet Global
Subsidiaries
Website econet.co.zw
Footnotes /references
Financials as of February 28,2025.
References: [1]


Econet Wireless, officially known as Econet Wireless Zimbabwe (EWZ) Limited or commonly referred to as just Econet is a Zimbabwean telecom operator that is headquartered at No. 2 Msasa, Harare. It is the largest telecommunications operator with 11,782,975 mobile subscriptions in Q2 2025 [2] and the second largest company by market capitalisation listed on the ZSE.

Contents

Econet was incorporated in 1993, and only started to operate in 1998 after a protracted legal battle with the former Postal and Telecommunications Company of Zimbabwe, now called TelOne Zimbabwe [3] . It began operation in July 1998, making it the first privately owned telecom in the country. Three months later, it listed on the Zimbabwe Stock Exchange in September 1998, making it the youngest ZSE Initial Public Offering in its history, with 10% of foreign ownership at listing in 1998 [4] .

The company recorded high growth in the following years. It started 3G services in 2007, making Zimbabwe the third country at the time to introduce 3G [5] . In 2005, it expanded into making a payments network for NGOs and other entitites, with it having a 99.8% of the mobile money market share in 2017 [6] .

Overview

Econet Wireless Zimbabwe maintained its position as one of ZSE’s big three with a peak evaluation of US$3.2 billion in August 2018. [7] [8] It has a market share of over 70%. [9]

Market Performance

Market capitalization of Econet Wireless Zimbabwe slowed down from a peak of US$3.2 billion in August 2018 [7] to ZWL7.07 trillion (US$785 million) in January 2024. [10]

References

  1. ↑ "FY 2025 Annual Abridged Report". 28 February 2025.
  2. ↑ "Potraz Q22025 Report" (PDF).
  3. ↑ "The Rebel Behind Africa's Telecom Revolution". Stanford Graduate School of Business. 22 November 2017. Retrieved 18 October 2025.
  4. ↑ Writer, Staff (26 February 2013). "Econet to split shares 10 to 1 to make them more accessible". Techzim. Archived from the original on 7 February 2025. Retrieved 18 October 2025.
  5. ↑ Reporter, Staff (18 September 2006). "Econet to launch 3G next year". The Namibian. Retrieved 18 October 2025.
  6. ↑ Sengere, Leonard (10 November 2017). "EcoCash has processed over $23 billion since launch and that's not the only impressive figure". Techzim. Archived from the original on 9 February 2025. Retrieved 18 October 2025.
  7. 1 2 "Econet celebrates 20 years of ZSE listing – The Herald". www.herald.co.zw. Retrieved 21 January 2024.
  8. ↑ "Econet hit $3.2 billion market capitalization". Chronicles. 14 August 2023. Retrieved 20 January 2024.
  9. ↑ "Econet expands subscriber market share to 70%". Econet Wireless. Retrieved 21 January 2024.
  10. ↑ "ECO | Econet Wireless Zimbabwe Ltd. Stock Overview (Zimbabwe Stock Exchange)". Barron's. Retrieved 21 January 2024.
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