Chronicle Editor
Econet Wireless Zimbabwe has been recognised for its innovative and transformative approach to procurement and supply chain management.
The recognition was conferred by the Institute of Supply Chain Management of Zimbabwe when it awarded the listed company the “Procurement Digital Transformation Award (Platinum)” at the 2024 Supply Chain Excellence Awards hosted by the institute in Harare this week.
Econet’s Chief Supply Chain Officer, Mrs Sharon Marufu, also received the “Outstanding Woman in Supply Chain Award (Platinum)” at the same event.
Econet Wireless’ procurement and supply chain strategy — built around the key pillars of collaboration, digital transformation, diversity and cost-effectiveness — has been instrumental in ensuring that the leading telecommunications and technology company remains competitive in the face of the country’s often challenging economic operating environment, while empowering marginalised and previously excluded groups.
“Sustainability is at the heart of our strategy,” said Marufu after receiving the awards.
“We are committed to incorporating sustainability into every aspect of our supply chain operations, to minimise our environmental footprint while maximising the social and economic benefits related to our business activities.”
In its 2024 financial year, Econet’s procurement spend reached ZW$1,5 trillion, distributed across more than 300 suppliers. Notably, 291 of these suppliers are local Zimbabwean businesses, underscoring Econet’s dedication to supporting local industries and driving economic growth.
The company’s major spending categories include network equipment, IT hardware and software, fuel and security services.
A stand-out feature of Econet’s procurement strategy is its Supplier Diversity and Inclusivity Programme, which seeks to empower marginalised groups by increasing the procurement of goods and services from minority and women-owned businesses.
The groups include small and medium enterprises (SMEs), women-owned businesses, youth-led enterprises and businesses owned by people with disabilities.
“Our objective is to diversify our supply chain by increasing our spend with diverse supplier groups,” Marufu said. “Currently, 11% of our procurement expenditure is directed towards diverse suppliers, and we aim to raise that to 15% by the next reporting period.”
Econet’s commitment to diversity and economically empowering women was ramped up nearly two years ago when in April 2023 the company formally signed a partnership agreement with the Women-Owned Business Trust (WOBT), an organisation that helps female entrepreneurs access markets and scale their businesses.
The collaboration has been instrumental in driving Econet’s procurement expenditure with women-owned businesses, which has grown by over 1 000%.
As part of its effort to drive diversity, Econet has participated in and part-sponsored four Meet the Buyer events, where women-owned businesses showcased their product offerings to the company’s procurement team and to other businesses.
The initiatives have been hailed for their alignment with Zimbabwe’s broader economic agenda, where small to medium-scale businesses are projected to be the engines of growth and job creation going forward.
Online Reporter