Econet Wireless Zimbabwe has for the first time come out open to admit that voice is under siege while data has not only become their greatest enemy but also their new opportunity.
Announcing through their financial statement, The Chief Executive officer with Econet Wireless Mr Douglas Mboweni admittedly refleced that voice, which has been their major business and source of revenue for more than a decade is no longer as viable as it used to be as the product is now facing a stagnation.
Mr Mboweni said that Econet Wireless Zimbabwe has now looked into other alternatives and data has become the same giant that has threatened their viability and a weapon they can use for the future of their business.
He said that with penetration now in excess of 103%, new customers coming onto the network were no longer able to contribute significantly to growth in revenue.
He pointed out that Broadband has grown by 62% making it a valuable opportunity for the telco propped by the ubiquity of mobile devices and alternative means of communication outside voice.
A plethora Messaging platforms have greatly killed convetional texting while VoIP continuously threatens GSM calling.
in his statement Mr Mboweni said that Broadband grew by 62% and EcoCash by 307%, contributing more than 14% to the overall revenue for the year.