Econet Wireless Zimbabwe
Econet Wireless is a telecommunications company that provides mobile network services, internet connectivity, and digital financial solutions in Zimbabwe.
| Legal Name | Econet Wireless Zimbabwe Limited |
|---|---|
| Year Founded | 1998 (27 Years Ago) |
| Type | Public |
| Traded As | ZSE: ECO |
| Key People |
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| Headquaters | Msasa, Harare, Zimbabwe |
| Parent Company | Econet Global |
| Subsidiaries |
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| Employees | 1108 (2024) |
| Revenue | ZW$14,000,000,000,000 â–² (2024) |
| Official Website | |
| Market Cap | ZW$8,400,000,000 (2024) |
About
Econet Wireless Zimbabwe is one of the leading telecommunications companies in Zimbabwe. It provides mobile network services, internet connectivity, and digital solutions to millions of customers across the country. The company operates in a competitive market where it faces challenges such as economic fluctuations and regulatory policies, yet it remains a key player in the industry.
Econet Wireless Zimbabwe is a subsidiary of Econet Group, a multinational telecommunications company founded by Strive Masiyiwa. The company has expanded its services beyond mobile communication, incorporating financial technology, digital content, and enterprise solutions. Over the years, it has played a significant role in improving Zimbabwe's communication infrastructure.
Company History
Econet Wireless Zimbabwe was founded in 1998 after a long legal battle with the government for an operating license. Strive Masiyiwa, the founder, had initially faced resistance from authorities when he sought to establish the company in the early 1990s. After winning a landmark court case, Econet was granted a license and launched its services in 1998, becoming the first privately owned mobile network operator in Zimbabwe.
Since its launch, the company has experienced significant growth. It introduced various innovations in the telecommunications sector, such as mobile money services, broadband internet, and digital content platforms. Over the years, Econet Wireless Zimbabwe has expanded its network coverage, reaching urban and rural areas alike. Despite economic challenges and currency fluctuations in Zimbabwe, the company has maintained its position as one of the largest telecom providers in the country.
Products and Services
Econet Wireless Zimbabwe offers a wide range of telecommunications and digital services.
List of Products and Services:
- Mobile Network Services – Voice calls, SMS, and mobile data packages.
- EcoCash – A mobile money platform that allows users to send, receive, and store money digitally.
- Econet Broadband – High-speed internet services for homes and businesses.
- Kwese iflix – A video-on-demand streaming service.
- Econet Business Solutions – Enterprise communication and cloud services.
- Steward Bank – A digital banking service under the Econet Group.
- EcoSure – Mobile-based insurance services.
- EcoFarmer – An agricultural information and financial service platform for farmers.
- Vaya Africa – A ride-hailing and logistics service.
These services have helped the company diversify its revenue streams and adapt to the changing demands of Zimbabwe’s digital economy.
Internal Structure
Econet Wireless Zimbabwe operates under a structured corporate governance system, with different departments handling telecommunications, digital services, and financial technology. The company has a board of directors that oversees its operations, ensuring compliance with regulatory requirements and strategic objectives.
The current CEO of Econet Wireless Zimbabwe is Douglas Mboweni, who has been in the position since 2002. Under his leadership, the company has expanded its services and maintained its position as a leading telecommunications provider in Zimbabwe. Mboweni has overseen various initiatives, including the growth of mobile money services and digital transformation within the company.