Online Reporter
Tapiwanashe Mangwiro
Senior Business Reporter
ECONET Wireless Zimbabwe is rapidly transforming into an AI-enabled digital services company, using major investments in infrastructure, fintech and emerging technologies to drive growth and position itself at the forefront of Zimbabwe’s digital economy.
The telecommunications giant recorded a 23 percent increase in revenue for the year ended February 28, 2026, underpinned by strong growth across its core business segments, including mobile communications and financial technology services.
In a statement accompanying the group’s audited financial results, chairman Dr James Myers said the past year had marked a significant turning point in the company’s strategic evolution.
“There have been significant milestones in Econet Wireless Zimbabwe’s strategic direction over the past year, recalibrating the company’s operating model,” said Dr Myers.
A major development during the year was the company’s voluntary delisting from the Zimbabwe Stock Exchange, a move that received overwhelming support from shareholders.
“To improve our operational flexibility and enhance shareholder value, the Company voluntarily delisted from the Zimbabwe Stock Exchange. The process was unanimously supported by more than 95 percent of the shareholders,” he said.
Dr Myers said the move formed part of a broader restructuring strategy that has resulted in Econet becoming a fully integrated and vertically aligned technology company.
Central to that transformation was the listing of Econet Infrastructure Company Limited (Econet InfraCo) on the Victoria Falls Stock Exchange, creating what the company describes as Zimbabwe’s largest integrated infrastructure business.
“At an initial market capitalisation of US$1 billion, Econet InfraCo is the largest initial public offering in Zimbabwe’s capital markets history,” said Dr Myers.
He noted that the infrastructure business, which houses the group’s power, telecommunications tower and real estate assets, would play a critical role in unlocking value through focused long-term investments.
Artificial intelligence is increasingly becoming the cornerstone of Econet’s future growth strategy.
Dr Myers described AI as “the most transformative technology of our time” and said the company was embedding the technology throughout its operations to improve efficiency, scalability and customer experience.
“The transition from a telecommunications company to an AI-enabled digital services provider is already underway and accelerating,” he said.
