Africa ICT & Telecom Network

An Africa Business Community - www.africabusinesscommunities.com

Zimbabwe's Econet Wireless, the country's largest mobile phone operator, has reported a 16 percent increase in half-year earnings, mainly driven by subscriber growth.

Earnings per share rose to $0.44 in the six months to end-August, up from $0.38 in the same period last year, Econet said in a statement. The firm's after-tax profit was $74 million, up from $64.3 million previously.

Econet, which has over 70 percent share of Zimbabwe's mobile phone market, said its subscriber numbers stood at 5.5 million at the close of the half year, up from 4.6 million previously.

Revenues jumped 24 percent to $290.9 million, from $235.5 million last year.

Econet said it has spent $470 million on network expansion since 2009, when Zimbabwe adopted the use of foreign currencies, mainly the United States dollar and South Africa's rand to replace a local unit destroyed by hyperinflation.

 

www.econet.co.zw

Views: 21

Comment

You need to be a member of Africa ICT & Telecom Network to add comments!

Join Africa ICT & Telecom Network

Africa Business Panel | B2B Market Research

As a valued LinkedIn group member, we invite you to join a prestigious online community.


The Africa Business Panel is open exclusively to business men and women engaged in business on the African continent.

 

As a participant in the African Business Panel, you will benefit in several ways and at the same time, you will have no obligations whatsoever. You will decide if and when you want to participate. However, the more you participate in surveys, the better your chances of benefiting from your membership.

Click here to join now



Badge

Loading…

© 2020   Created by Bas Vlugt.   Powered by

Badges  |  Report an Issue  |  Terms of Service