Econet Wireless News by AfricanShareholder.com

Frost & Sullivan Lauds Econet Wireless for enhancing customer value

Fri, 16 Dec 2011 12:00:00

Based on its recent analysis of the broadband communications market in Africa, Frost & Sullivan recognises Econet Wireless with the 2011 Africa Frost & Sullivan Award for customer value enhancement. Econet Wireless is lauded for its strong ethical commitment to prioritising consumers in the implementation of its strategies. “The data services that Econet Wireless offers suits almost every segment of the Zimbabwean broadband market,” notes Frost & Sullivan Research...

Econet solar to licence operators

Wed, 14 Dec 2011 12:00:00

Econet Solar, the energy division of global telecoms group Econet Wireless, has said it will license its breakthrough solar lighting solution to telecoms operators from around the world. The company said it has received numerous enquiries from operators all around the world who want to use the patented technology to offer lighting to low income customers. The Econet Solar HomePowerStation, was recently launched at the Durban climate conference. It can only be provided through a cell phone...

Econet becomes Zimbabwe's Superbrand for 2011

Mon, 12 Dec 2011 00:00:00

ECONET has scooped the first prize in the country's Top 10 Superbrands for the second consecutive year. It has been credited with transforming many lives in Zimbabwe, according to the Marketers Association of Zimbabwe (MAZ), which conferred the award. The Econet brand was recognised for its remarkable success in Africa where it has become a multi-national brand, spanning over ten countries with more than 15 million customers. The mobile phone service provider generates more than...

Liquid fibre optic network goes live in Zambia

Mon, 14 Nov 2011 12:00:00

The landlocked country of Zambia has been connected to the Seacom and Sat3 undersea cables, with a dedicated terrestrial cable that has been built from Durban in South Africa and running through Zimbabwe along the major highways. The cable was laid by Chinese contractor Huawei Technologies on behalf of Liquid Telecom Fibre Network, a subsidiary of global telecoms operator Econet Wireless. Liquid Telecom CEO Mr Nic Rudnick said the company has already begun to provide service to Zambian...

Econet Wireless Calls Upon Astellia's Expertise to Accelerate Mobile Broadband Adoption

Wed, 9 Nov 2011 12:00:00

Astellia, a leading provider of monitoring solutions for the optimization of mobile network QoS, announced today the signature of a €1 million contract with Econet Wireless, Zimbabwe’s number one operator - Astellia.com. Under the agreement, Econet will deploy Astellia’s vendor-independent solution on its 2G and 3G networks and will also get expert support from Astellia’s consulting team. The Astellia solution allows Econet to closely monitor network performance, as...

ECONET: 2011 interim results presentation

Tue, 4 Oct 2011 12:00:00

The Directors of Econet Wireless Zimbabwe Limited are pleased to announce the release of the Group's half year analyst briefing and results presentation in respect of the half year ended 31 August 2011. Below are extracts from the income statement:- Subscribers: 5 640 749 Network Investment: US$ 38,7 million Revenue: US$ 290,9 million EBITDA: US$ 131,2 million Profit after tax: US$ 74,0 million Operating profit: US$ 110,1 million Related...

ECONET releases HY2011 interim results

Mon, 3 Oct 2011 12:00:00

The Directors of Econet Wireless Zimbabwe Limited are pleased to announce the release of the Group's 2011 unaudited abridged consolidated financial results for the half year ended 31 August 2011. Below are extracts of financial highlights from the results:- Financial Highlights Subscribers: 5 640 749 Network Investment: US$ 38,7 million Revenue: US$ 290,9 million EBITDA: US$ 131,2 million Profit after tax: US$ 74,0 million Earnings per share: US$ 0.44 To download the full...

ECONET: 2011 interim dividend announcement

Mon, 3 Oct 2011 12:00:00

Notice is hereby given that at a meeting held on Wednesday 28 September 2011 the Board of Directors declared an interim dividend, number 16, of 11.8 US cents per share in respect of the half-year ended 31 August 2011. The dividend shall be payable monthly, at the rate of 2.95 US cents per share, from November 2011 to February 2012 as follows: In November the dividend shall be payable to shareholders registered in the books of the Company at the close of business on Friday 18 November 2011....

ECONET: 2011 interim results analyst briefing re-scheduled

Fri, 30 Sep 2011 12:00:00

PLEASE NOTE that the briefing for the interims to August 31 2011 of Econet Wireless Zimbabwe Limited, will be held on Monday, 3 October 2011. Venue: Meikles Stewart Room Time: 1430 hours

Econet launches mobile money transfer service

Thu, 29 Sep 2011 00:00:00

ECONET Wireless, Zimbabwe’s largest telecoms company, has launched the country’s first true mobile money transfer service. The new service, branded EcoCash, will allow users to send and receive money, buy airtime, and make other payments using their mobile phones. Unlike other mobile banking offerings that have emerged on the market, customers using EcoCash are not required to have a bank account, do not need to switch their SIM cards for new ones, and can move money across...

Econet prepares to make Zimbabwe a cashless society

Tue, 6 Sep 2011 00:00:00

Econet Wireless will at end of the month launch a mobile payment system that makes it possible for Zimbabweans to pay for anything using their cellphones. The company has spent millions of dollars on developing the system, which will be launched to its over 5-million customers, completely eliminating the need for any notes for purchases below $20. This would be done instantly between any two people who have Econet cell phones, the company said in a statement. Econet has been working for...

Econet refinances staff pensions, retains skills

Mon, 15 Aug 2011 12:00:00

Econet Wireless has cemented its position as the country's best employer by refinancing its pension fund to compensate its employees for the loss of their pensions during hyperinflation. As with all workers in the country, Econet staff found themselves with worthless pension contributions when hyperinflation destroyed the Zimbabwe dollar. According to sources at the telecoms giant, a retired Econet employee, whose pension had been reduced to a few cents, wrote to Econet founder Mr...

Econet launches SMS campaign for Somalia aid

Thu, 11 Aug 2011 12:00:00

ECONET Wireless has launched a campaign that enables its customers to send desperately needed aid relief to famine-stricken Somalia via SMS. The “Save a Life” SMS campaign will raise funding to support an international aid effort in Somalia, where a combination of the worst drought in 60 years and armed conflict has left an estimated 3.7 million people in desperate need of food aid. Econet customers will be able to donate to the cause by sending the SMS “Save a Life”...

BURUNDI'S ECONET unveils USD 10 million 3G network

Mon, 25 Jul 2011 00:00:00

Econet Wireless, Burundi’s fastest growing network has launched Burundi’s first broadband service. This follows an investment of over $10 million in the latest 3G technology. The 3G network is linked to the internet and outside world via fibre optic system with satellite back up to ensures reliability.The service will offer customers high speed mobile internet connectivity on mobile phones, lap tops, ipads, tablets, PC’s and other broadband compliant devices. The service will...

Econet Wireless Annual General Meeting results

Fri, 15 Jul 2011 12:00:00

At the Company's Thirteenth Annual General Meeting held at the registered office of the Company at Econet Park, 2 Old Mutare Road, Msasa, Harare, Zimbabwe today, 15 July 2011 all resolutions as in the AGM Notice to Shareholders have been carried. The agenda for the AGM setting out the Ordinary and Special Resolutions for the just ended AGM is available here. By Order of the Board C.A. BANDA GROUP COMPANY SECRETARY ECONET WIRELESS ZIMBABWE LIMITED

Econet Wireless exits Rainbow Tourism Group

Fri, 8 Jul 2011 12:00:00

Econet Wireless has sold shareholding of more than 11% that it held in Rainbow Tourism Group (RTG) to the National Social Security Authority (NSSA), the Company announced. A senior Econet Wireless Group, Executive, Mrs Tracy Mpofu, confirmed the sale. NSSA is expected to appoint directors to the board to replace the Econet directors within a matter of days. She said Econet's investment arm, EW Capital has clear investment guidelines. RTG no longer fitted into these guidelines. "Where...

Econet releases 2011 annual report

Mon, 4 Jul 2011 12:00:00

The Board and Management of Econet Wireless Zimbabwe Limited are pleased to announce the release of the 2011 annual report in respect of the year ended 28 February 2011. Below are the extracts from the Chairman's Statement: Chairman's Statement to Shareholders Introduction During the year under review, the country's mobile penetration rate increased to more than 66%, from about 40% in the previous year. Zimbabwe has surpassed some of the countries in the region in terms of...

Econet: Notice of the thirteenth Annual General Meeting

Fri, 24 Jun 2011 12:00:00

Notice is hereby given that the Thirteenth Annual General Meeting of the members of Econet Wireless Zimbabwe Limited, will be held in the staff canteen, at the registered office of the Company at Econet Park, 2 Old Mutare Road, Msasa, Harare, Zimbabwe on 15 July 2011 at 10.00 a.m. for the following purposes: Ordinary Business To consider and adopt the following resolutions: Financial Statements To receive and adopt the financial statements for the year ended 28 February 2011,...

Econet reassures Ecolife customers

Thu, 9 Jun 2011 12:00:00

Econet Wireless has announced that Trustco Mobile, the foreign technical partner in Ecolife, has unilaterally terminated its joint-venture agreement signed with Econet in October 2010 to provide life insurance cover through Ecolife. However, customers will not be adversely affected after Econet took appropriate measures that will ensure that the existing life cover of Ecolife customers is secured. The security of our customers was always a key consideration during development of this product....

ECONET releases the 2011 abridged results

Thu, 21 Apr 2011 12:00:00

The Board and Management of Econet Wireless Zimbabwe Limited are pleased to announce the audited financial results for the year ended 28 February 2011. Below are the extracts from the Chairman's Statement: Chairman's Statement to Shareholders IntroductionDuring the year under review, the country's mobile penetration rate increased to more than 66%, from about 40% in the previous year. Zimbabwe has surpassed some of the countries in the region in terms of mobile penetration....

Econet reports strong earnings, higher investment

Wed, 20 Apr 2011 12:00:00

Econet Wireless invested US$270 million in network infrastructure over the past year, bringing total investment over the previous two years to over US$430 million, the country's largest telecoms service provider reported on Wednesday. In a statement accompanying its financial results for the full year to February 2011, Econet said the massive investment in network infrastructure helped grow subscriber numbers 55% to 5.5 million customers by February. Econet's capital investment...

ECONET: Dividend announcement

Wed, 20 Apr 2011 12:00:00

DIVIDEND NOTICE is hereby given that at a meeting held on 14 April 2011, the Board of Directors declared a cash dividend , in respect of the year ended 28 February 2011, of 12.16 US cents per share. The dividend will be payable to shareholders registered in the books of the Company at the close of business on Friday 13 May 2011. The share transfer books and register of members will be closed from the close of business on 13 May 2011 to 15 May 2011, both dates inclusive. Payment of the...

Econet doubles internet access with eTXT

Tue, 12 Apr 2011 00:00:00

Mobile email and online chat access in Zimbabwe will more than double with the launch of Econet Wireless Zimbabwe's new eTXT service. Econet subscribers can now send and receive low-cost internet messaging via any standard SMS-capable mobile phone without being connected to the Internet. In June 2010, only one in eight Zimbabweans (1.4 million people) had access to the internet, according to the International Telecommunications Union. Internet access in Zimbabwe had largely been limited...

Econet weekly share trading results: 18 March 2011

Fri, 18 Mar 2011 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 18 March 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 11 March 2011

Fri, 11 Mar 2011 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 11 March 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 04 March 2011

Fri, 4 Mar 2011 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 04 March 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 25 February 2011

Fri, 25 Feb 2011 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 25 February 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 18 February 2011

Fri, 18 Feb 2011 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 18 February 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 11 February 2011

Fri, 11 Feb 2011 12:00:00

Econet Wireless Zimbabwe weekly share trading stats 11 February 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet launches Econet Energy

Thu, 10 Feb 2011 12:00:00

ECONET Wireless, Zimbabwe's largest telecoms company, has launched a "green" campaign that will see the company invest in alternative energies, raising environmental awareness and alleviating the crippling impact of worsening power cuts on service. The new thrust, called Econet Energy, will see the country's largest telecoms company expand its investment in renewable energy, with the aim of ultimately reducing its reliance on increasingly unreliable traditional power...

Econet weekly share trading results: 4 February 2011

Fri, 4 Feb 2011 12:00:00

Econet Wireless Zimbabwe weekly share trading stats 4 February 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 28 January 2011

Fri, 28 Jan 2011 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 28 January 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 21 January 2011

Fri, 21 Jan 2011 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 21 January 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 14 January 2011

Fri, 14 Jan 2011 12:00:00

Econet Wireless Zimbabwe weekly share trading stats 14 January 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 7 January 2011

Fri, 7 Jan 2011 12:00:00

Econet Wireless Zimbabwe weekly share trading stats 7 January 2011 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet yearly share trading results: 2010

Tue, 4 Jan 2011 12:00:00

Econet Wireless Zimbabwe yearly share trading stats 2010 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 17 December 2010

Fri, 17 Dec 2010 12:00:00

Econet Wireless Zimbabwe weekly share trading stats 17 December 2010 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet to introduce free email addresses

Thu, 16 Dec 2010 12:00:00

Having achieved probably the most successful wireless broadband launch in Africa, in which nearly 4% of the population took up service in less than six weeks, Econet Wireless is now pushing ahead with the next phase of making Zimbabweans the most digitally connected in Africa. The country's largest telecoms operator is issuing its customers free email addresses that are linked to their normal mobile number. The scheme, considered a world first, will allow an Econet Broadband customer to...

Econet to invest US$300m in network Expansion

Thu, 16 Dec 2010 00:00:00

ECONET Wireless Zimbabwe says it will have invested an additional US$300 million on expanding and upgrading its network by February next year. This would take cumulative investment in mobile phone operations to about US$1 billion as the firm has already ploughed in over US$600 million. Econet chief executive Mr Douglas Mboweni said the mobile firm had spent the money on equipment, technology upgrades and expansion projects. Mr Mboweni said the US$600 million investment by Econet could easily...

Econet Wireless weekly share trading results: 10 December 2010

Fri, 10 Dec 2010 12:00:00

Econet Wireless Zimbabwe weekly share trading stats 10 December 2010 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet customers reach 5 million, broadband users over 400,000

Tue, 7 Dec 2010 12:00:00

Zimbabwe´s largest telecoms firm, Econet Wireless, now has over 5 million subscribers, and now accounts for the largest number of lines sold in the country. In a market update, CEO Mr Douglas Mboweni said the total number of subscribers stood at 5,012 million as at November 30. He said demand for new lines remained strong, but the company was currently managing to sell all the lines being released onto the market. "Econet continues to account for the majority of all lines sold in the...

Econet Wireless market update

Mon, 6 Dec 2010 00:00:00

Econet Wireless Zimbabwe is pleased to give the following market update for the period up to 30th November 2010: TOTAL NUMBER OF SUBSCRIBERS The total number of subscribers connected to the Econet Wireless network stood at 5,012 million. Demand for new lines continues, and Econet continues to account for the majority of lines sold in the market. BROADBAND Econet launched a national broadband service on 20th October. The total number of customers, who have connected through the three...

Econet weekly share trading results: 03 December 2010

Fri, 3 Dec 2010 12:00:00

Econet Wireless Zimbabwe weekly share trading stats 03 December 2010 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 26 November 2010

Fri, 26 Nov 2010 12:00:00

Econet Wireless Zimbabwe weekly share trading stats 26 November 2010 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 19 November 2010

Fri, 19 Nov 2010 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 19 November 2010 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 12 November 2010

Fri, 12 Nov 2010 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 12 November 2010 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Econet weekly share trading results: 05 November 2010

Fri, 5 Nov 2010 00:00:00

Econet Wireless Zimbabwe weekly share trading stats 05 November 2010 Listing exchange ZSE Sector Telecommunications Listing date 17 September 1998 ISIN code ZW000-901-122-3 Year end 28 February ...

Massive demand for Econet Broadband, Ecolife

Wed, 3 Nov 2010 00:00:00

Econet Wireless says Econet Broadband and Ecolife, two services launched by the company over the past month, have been runaway successes surpassing anything the company has experienced before. Within just one week, Econet Broadband has expanded to more than 100 000 connected customers and the company is bracing itself for continued rapid growth well into coming year. Ecolife, the life insurance product jointly run by Econet and First Mutual Life, is also seeing subscriber numbers double every...

Econet reports strong earnings, subscriber growth

Tue, 2 Nov 2010 00:00:00

Econet Wireless Zimbabwe, the country's biggest telecoms service provider, says it has now signed up 4.8 subscribers and expects the number to reach five million by Christmas. Subscriber uptake of Econet Broadband and Ecolife has been strong, and would help offset an expected slowdown in revenue growth as the Zimbabwe market enters a maturing phase. Customers on Econet Broadband had reached 80 000 within a week of launch, while Ecolife, the mobile insurance product, now has over 200 000...

ECONET releases the 2010 interim results

Fri, 29 Oct 2010 00:00:00

The Board of Directors is pleased to release the 2010 interim results for the half year ended 31 August 2010. Below are the extracts from the Chairman's Statement: Introduction The Group will continue to pioneer products and services that provide an exciting customer experience and a compelling value proposition. The introduction of a creative insurance product as well as the introduction of broadband services has provided the Group with a strategic lever to further enhance the customer...