0
Wireless

Econet Zimbabwe FY results hit by weak consumer spending

Thursday 2 June 2016 | 09:17 CET | News
Zimbabwean operator Econet Wireless said revenue in the year to 29 February fell 14 percent and net profit dropped 42 percent, as cash and foreign currency shortages have depressed consumer spending. The lack of cash has boosted its EcoCash mobile money service, though.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: Econet Wireless
Countries: Zimbabwe
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

TelOne faces service disruption threats over USD 18 mln debt to suppliers, could hit national economy

Published 15 Nov 2018 10:14 CET | Zimbabwe
Zimbabwean operator TelOne, has been threatened with service disruption by critical foreign supplier creditors, who include West ...

Econet H1 revenues fall 6.7%

Published 02 Nov 2016 14:55 CET | Zimbabwe
Zimbabwe operator Econet reported revenues of USD 301.5 million for its fiscal first half to August, down 6.7 percent from a year ...

Ecocash transacts USD 16 billion in 4 years

Published 30 Aug 2016 09:29 CET | Zimbabwe
Econet Wireless Zimbabwe's mobile financial service platform, Ecocash, has transacted over USD 16 billion in the last four years, ...

Econet faces lawsuit over SIM cards worth USD 60,000

Published 03 Aug 2016 09:31 CET | Zimbabwe
Zimbabwean firm Callander Enterprises has sued Econet Wireless, seeking USD 60,000 after Econet allegedly failed to pay for the ...

Econet Wireless disowns Liberty Party Facebook account

Published 12 Jul 2016 12:24 CET | Zimbabwe
Zimbabwean operator Econet Wireless has distanced group chairman Strive Masiyiwa from a fake Facebook account under the name ...

Econet Zimbabwe considers ad-blocking

Published 06 Jul 2016 10:57 CET | Zimbabwe
Econet Wireless Zimbabwe plans to introduce ad-blocking on its network through software at its data centres, TechZim reported. ...

POTRAZ refutes reports of unfair practices

Published 09 Jun 2016 11:30 CET | Zimbabwe
The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has denied allegations of favouritism leveled against ...

Econet signs broadcasting deal with Cricket Australia

Published 03 Jun 2016 10:32 CET | Zimbabwe
Zimbabwe's Econet Media has signed an agreement with Cricket Australia, through its Kwese Sport arm. Under the five-year ...

Econet CEO says some mobile rivals are not paying their way

Published 02 Jun 2016 10:48 CET | Zimbabwe
Econet Wireless Zimbabwe says the government should level the playing field in the mobile services sector to ensure that ...

Econet, Ericsson to launch VoD platform

Published 31 May 2016 12:02 CET | Zimbabwe
Econet Wireless Zimbabwe says it will partner Ericsson to launch NuVu, a Video-on-Demand (VOD) platform in Zimbabwe, TechZim ...

MTN Zambia, Econet Zimbabwe partner on mobile money transfer

Published 19 May 2016 11:25 CET | Zambia
MTN Zambia has signed a partnership with the Zimbabwe mobile money service EcoCash. EcoCash is owned by Econet, the leading ...

Econet Zimbabwe launches airtime credit on Ecocash

Published 02 May 2016 14:17 CET | Zimbabwe
Zimbabwe operator Econet has introduced an airtime credit service via the EcoCash platform which will allow its more than 5 ...

Potraz says Econet biggest contributor to telecom fund

Published 06 Apr 2016 14:08 CET | Zimbabwe
Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says Econet Wireless is by far the biggest contributor to ...

Econet set for widespread redundancies – report

Published 28 Mar 2016 09:37 CET | Zimbabwe
Zimbabwean operator Econet Wireless is to undertake large scale redundancies in the face of a tough operating environment, ...

Econet launches Home security service

Published 11 Mar 2016 09:21 CET | Zimbabwe
Zimbabwe operator Econet Wireless has launched Econet Connected Home, an innovative system which enables customers to monitor, ...