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Econet Zimbabwe seeks 20% cut in expenditure amid inflation and currency depreciation

Wednesday 3 June 2020 | 09:38 CET | News
Econet Wireless Zimbabwe plans to reduce operational expenditure by 20 percent and has appealed to its suppliers to reduce their prices by the same margin. In a special trading update, Econet said that the prevailing hyper inflationary environment and currency depreciation have depressed the real tariffs and significantly impacted operating costs and foreign exchange losses. It said the board and management are of the view that the financial performance trend will continue to be weighed down in line with past performance. 

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