Online Reporter
Nelson Gahadza
Zimpapers Business Hub
Econet Wireless, Zimbabwe’s biggest mobile telecommunications company, has reported a 38 percent increase in revenue to ZiG13.5 billion in the half year ended August 31, 2025, compared to the same period last year’s ZiG9,741, driven by significant volume growth across all major service lines.
The group’s business segments include mobile network operations, mobile financial services and insurance.
Group chairman Dr James Myers, in a statement of the financials, said the mobile network operations segment was the largest contributor to revenue, accounting for 82 percent of total revenue, while mobile financial services (mobile money) and the insurance segment accounted for 14 percent and 4 percent, respectively.
“The segment’s financial performance reflects the positive impact of continued investment in network infrastructure, with data traffic doubling and voice traffic growing by 34 percent compared to the same period last year,” he said.
Mr Myers noted that the growth in data traffic was enabled by the network modernisation exercise carried out by the business.
“A capital investment to revenue ratio of 12 percent was channelled towards network infrastructure to improve network quality and coverage,” he said.
Mr Myers said the Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) margin remained firm at above 45 per cent.
“The implementation of cost optimisation strategies contributed to sustaining stable and healthy profitability margins,” he said.
On the group’s financial technology, he said EcoCash, the mobile financial services business, continued to register significant growth in its wallet services following a 35 percent increase in transaction volumes compared to the same period last year.
“Our strategic initiative to expand mobile money accessibility anchored the growth in our mobile financial services footprint since August 2024, thereby enhancing customer access to our services,” said Mr Myers.
He highlighted that the InsurTech segment seeks to preserve value for the group’s customers by providing flexible and affordable coverage options.
During the interim period under review, Ecolife achieved a 50 percent increase in individual life policies compared to the same period last year.
