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Econet Wireless Zimbabwe has reported a 23% revenue increase for the financial year ending February 28, 2026, driven by a major corporate restructuring and a strategic pivot toward artificial intelligence. The telecommunications giant has reported massive financial growth in its first set of results since delisting from the local stock exchange, officially crossing the $1 billion revenue threshold while finalising a major corporate restructuring.
Following its voluntary delisting from the Zimbabwe Stock Exchange (ZSE), the telecommunications giant now trades on an Over-the-Counter (OTC) platform via the Victoria Falls Stock Exchange (VFEX).
As part of this transition, Econet spun out its power, tower, and real estate assets to create Econet InfraCo. Listed on the VFEX with a $1 billion market capitalisation, the new entity represents the largest initial public offering (IPO) in the history of Zimbabwe’s capital markets. Despite the ZSE delisting, Econet has retained over 10,000 shareholders and declared a total annual dividend of 2.44 US cents per share.
According to the company’s supplementary financial disclosures, USD revenue reached $1.1 billion for the 2026 financial year ending February, up from $894 million the previous year. Earnings surged to a robust $229 million, a significant leap from the $95 million recorded in 2025. This strong performance sharply contrasts with the company’s market valuation just a year ago, when its market capitalisation dipped below $400 million, implying a forward price-to-earnings ratio of less than two.
The company’s revenue growth was anchored by a massive 100 percent surge in data volumes and a 35 percent increase in voice traffic. Econet has solidified its market dominance, now commanding 73.75 percent of the country’s 16.7 million active mobile subscriptions. To manage this demand, the firm commissioned 200 new base stations including 95 5G sites and upgraded its core network and EcoCash fintech platform in early 2026.
Econet is actively transitioning into an AI-enabled digital services provider. Through partnerships with Cassava Technologies, the company launched “Econet AI” to develop sector-specific solutions. It also deployed an autonomous, self-optimising network and introduced “Yamurai,” an innovative, voice-enabled customer service chatbot that operates seamlessly in local African languages.
Beyond its digital infrastructure, Econet is advancing massive real estate projects. Construction has begun on an 800-acre “Tech City” near Harare’s international airport, envisioned as a regional technology hub. Simultaneously, Econet InfraCo is developing luxury villas in Victoria Falls, complete with health and wellness facilities, a private hospital, and helicopter landing sites.
The company also expanded its social impact initiatives, reaching two million students via its AI-enabled Akello learning platform and deploying solar-powered mini-grids to underserved rural communities.
The Company declared and paid a final dividend of 0.61 US cents per share for the year ended 28 February 2026 with respect to all qualifying ordinary shares of the Company. The total dividends declared for the year amount to 2.44 US cents per share.
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