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BizDay Zimbabwe

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Econet Zimbabwe

CTC meets RBZ, Potraz over Econet inquiry

THE Competitions and Tariff Commission met the Reserve Bank of Zimbabwe seeking clarity on Econet’s mobile money business which has been a subject of investigation over the last couple of months. The Authority also met Postal and Telecommunications Regulatory Authority of Zimbabwe on Econet’s alleged uncompetitive practices. Last year CTC…

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Liquid Telecom market share rises to 70pc

LIQUID Telecom, a subsidiary of Econet Global, spent over US$33 million on network infrastructure development in 2013 while its fibre market share increased to around 70 percent, managing director Mr Wellington Makamure has said. In an interview, Mr Makamure said the company has injected over US$110 million into the economy since 2009 whe…

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3,5 million registered for EcoCash

ZIMBABWE’S largest mobile phone operator by subscription Econet Wireless has registered over 3,5 million subscribers on its EcoCash mobile money platform, a company executive has said. He said the mobile phone operator was targeting eight million subscribers by year end. Econet Services chief executive officer Darlington Mandivenga told N…

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Econet, banks renew feud

BANKS are once again up in arms with Econet Wireless over the mobile phone operator’s refusal to give them access to its network platform to freely roll out their financial products. This comes as Zimbabwe’s biggest mobile phone telecommunications operator has been rolling out a number of mobile phone-based financial services for its eigh…

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Econet to advance loans for its bank clients

MEMORY MATARANYIKA Harare – ECONET Wireless, the giant Zimbabwean telco which has 3 million mobile money subscribers, is to offer loans for its EcoCash Save account holders as part of the group’s bid to encourage the unbanked populace in Zimbabwe to open bank accounts. EcoCash Save accounts are run in partnership with Steward Bank, in whi…

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EcoCash expected to drive share value

ECONET Wireless Zimbabwe Ltd’s mobile money transfer service EcoCash is expected to drive share value and company growth going forward, a top executive said. Econet’s deputy finance director Roy Chimanikire this week told shareholders at the company’s 15th annual general meeting EcoCash and other strategic innovations such as Econet Solar…

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Econet approves share buyback

ECONET Wireless Zimbabwe shareholders on Tuesday approved directors’ proposal to buy back a maximum 10 percent of the firm’s shares.Shareholders endorsed the proposal and two other main resolutions at the 15th annual general meeting of the company held in Harare. The buyback of its own shares would be allowed provided that the repurchase…

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‘Mobile subscribers getting raw deal’

ZIMBABWE’S small mobile operators are charging the most expensive voice call tariffs in the Southern Africa region, a study by Research ICT Africa Network shows. In the study, the smaller operators are referred to as non-dominant operators and Telecel Zimbabwe and NetOne fall under this category. Their peers include Unitel of Cape Verde,…

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Econet defiant

MOBILE phone operator Econet Wireless remains defiant insisting the Postal and Telecommunications Regulatory Authority of Zimbabwe is wrong in directing the company to reverse its decision to cut the tariff for all voice calls by 60 percent.Econet Wireless chief executive Mr Douglas Mboweni in an interview said as a regulatory authority P…

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