Econet Wireless Zimbabwe has emerged as one of the country’s largest contributors to public finances after paying more than $4.3 billion in taxes for the half year to August 2025, according to its interim financial statements. The amount equal to 31% of its total revenue reflects income tax, Value Added Tax and excise duty paid during the period.

The disclosure comes soon after the company received the Customs and Excise Accolade from the Zimbabwe Revenue Authority (ZIMRA), recognising its compliance record and contribution to the fiscus.

Econet posted inflation-adjusted revenue of $13.5 billion, a 38% increase from the same period last year, while profit surged 331.9% to $2.9 billion. Chairman James Myers said the solid performance was supported by sustained investment in network capacity and technology upgrades.

By Ruvarashe Gora

“Data traffic doubled, while voice traffic grew by 34 percent compared to the same period last year,” Myers said, noting that 12% of revenue had been reinvested into capital expenditure during the period. Mobile network operations accounted for 82% of total earnings, with mobile financial services contributing 14% and insurance 4%.

The company maintained an EBITDA margin above 45%, supported by ongoing cost-optimisation measures. Its mobile money platform, EcoCash, recorded a 35% rise in transaction volumes as financial inclusion efforts continued following last year’s rollout expansion.

In the InsurTech segment, Ecolife grew individual life policies by 50%, while Moovah and Maisha registered 31% and 63% increases respectively, reflecting rising adoption of digital insurance products.

Econet also accelerated its infrastructure rollout to meet growing customer demand. During the period, it installed 26 lightweight base stations in rural and underserved areas, added 27 additional sites across the country, and expanded its 5G footprint by 100 new sites. Myers said these investments underpin future services such as Internet-of-Things (IoT) applications and new digital offerings.

Econet Chairman James Myers added that the company is prioritising AI-driven efficiency, security and customer experience as it positions itself for continued growth.