Econet Wireless FY loss set to shrink after forex system amendment

Wednesday 13 January 2021 | 14:58 CET | News
Brokerage firm IH Securities expects Econet Wireless to narrow its losses this financial year before returning to profitability in 2022, as stability in the exchange rate is expected to cut forex losses, according to The Herald. During the current financial year ending in February, profitability is likely to remain under pressure after foreign exchange losses in H1, said the brokerage. The reintroduction of the foreign currency auction system in June 2020 brought stability and "will work to the advantage" of the telecom operator, said IH Securities.

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Categories: Mobile & Wireless
Companies: Econet Wireless / POTRAZ
Countries: Zimbabwe
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