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Econet Wireless, a telecommunications firm, has announced a substantial investment in network modernization, with capital expenditure reaching 18% of revenues in the third quarter of 2024. This significant investment is driven by the company’s efforts to support growth in usage and improve service quality.
As part of its modernization efforts, Econet Wireless has successfully upgraded its network to enable advanced digital use cases, including high-quality voice calls over 4G/LTE network. The company has also continued to modernize its base stations, adding 16 new sites, upgrading 33 radio access sites, and 270 microwave access links. Additionally, 20 new 5G sites have been commissioned nationwide.
The company’s investment in network modernization has already begun to yield results, with voice and data usage increasing by 20% and 36% respectively compared to the same quarter last year. Econet Wireless forecasts that demand for data will remain firm and continue to grow, driven by the increasing adoption of digital services.
To cater to the growing demand for data, Econet Wireless has launched Smart4Home, a new fixed wireless product targeted at high-volume data users. The company’s mobile money business has also continued to register steady growth, driven by a 55% increase in active subscribers and a 79% increase in wallet funding.
Econet Wireless’s significant investment in network modernization and expansion is poised to support the growing demand for data and digital services, cementing its position as a leading telecommunications provider.
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