Econet Wireless Zimbabwe has successfully concluded an ambitious and wide-ranging network infrastructure modernisation programme, positioning the telecommunications giant to lead Zimbabwe’s digital revolution. Finalised in the second half of the financial year ending February 28, 2025, the upgrade included a comprehensive overhaul of the core network, as well as major improvements to the company’s radio and microwave access systems.
In the company’s recently released FY2025 financial results, Group Chairman Dr. James Myers hailed the upgrade as a major milestone in Econet’s digital transformation roadmap. He noted that the new infrastructure would enable the group to launch more competitive, customised, and next-generation digital services tailored to evolving consumer needs.
As part of the upgrade, Econet commissioned 77 new base stations across the country, modernised 546 radio access sites, and upgraded 365 microwave access links. Significantly, the company also installed 60 new 5G sites during the final quarter of the financial year, bringing high-speed, low-latency connectivity to more users across Zimbabwe.
“These investments represent a significant leap in our capacity to deliver fast, reliable, and seamless connectivity to both homes and businesses,” Dr. Myers said. “Our customers can expect higher-quality mobile broadband services, improved network coverage, and an overall enhanced user experience.”
In a strong show of commitment to digital inclusion, Econet also deployed 10 lightweight, cost-effective base stations aimed at bringing connectivity to rural and previously underserved areas. These sites are expected to bridge long-standing access gaps and contribute to economic activity in remote communities.
Recognising the challenges of energy reliability in Zimbabwe, the telecom giant also prioritised energy optimisation in its network expansion. It implemented a series of power upgrades and monitoring systems designed to improve energy efficiency and reduce site-level operational disruptions. According to Dr. Myers, these enhancements will not only help Econet meet growing data demands but also contribute to national grid stability.
Econet Completes Nationwide Network Overhaul, Paving the Way for Zimbabwe’s Digital Future
“Power autonomy is essential for network resilience and long-term service continuity,” he noted. “Our strategic energy investments are designed to deliver sustainable, cost-effective solutions that future-proof our operations.”
In the Mobile Network Operations (MNO) segment, Econet reported substantial growth, with data traffic increasing by 36 percent and voice traffic up 23 percent year-on-year. These gains were attributed to both the network improvements and the introduction of innovative service offerings. Despite these positive trends, the company’s EBITDA margin declined slightly to 47 percent, compared to 48 percent the previous year. Capital expenditure in the MNO segment accounted for 16 percent of total revenue, a slight decrease from 17 percent in FY2024.
“As we continue our digitisation journey, we are strategically integrating artificial intelligence (AI) into our operations,” Dr. Myers said. “AI will enable us to drive operational efficiencies, better manage costs, and deliver smarter services.”
Econet’s Fintech subsidiary, EcoCash, also posted robust growth. Transaction volumes rose 21 percent year-on-year, while transaction values surged by a remarkable 210 percent. This growth was driven by increased customer engagement, broader wallet funding options, and a wider network of cash-in partners. Efforts are underway to bring more international partners into the fold as EcoCash works toward building a global payment platform rooted in simplicity and user convenience.
The group’s insurance division—comprising Moovah (Econet Insurance), EcoSure, and Maisha Health—also experienced positive momentum, recording a 35 percent year-on-year revenue increase. The life insurance segment stood out, growing revenues by 51 percent due to rising uptake of bundled digital offerings. Meanwhile, the short-term insurance portfolio grew its customer base by 15 percent, buoyed by strong demand for both motor and non-motor coverage.
Looking ahead, Dr. Myers emphasised the group’s commitment to further digital transformation, AI integration, and strategic business diversification to unlock future revenue opportunities and ensure long-term profitability.
“We are investing in AI not just as a technological upgrade, but as a tool to transform how we interact with our customers, develop new services, and drive meaningful innovation across our portfolio,” he explained.
With its upgraded infrastructure and expanding digital ecosystem, Econet is poised to remain at the forefront of Zimbabwe’s digital transformation. The company’s renewed focus on innovation, inclusion, and sustainability underscores its mission to empower individuals, businesses, and communities through technology—helping to shape a connected and digitally empowered Zimbabwe.
