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Econet Wireless has secured overwhelming shareholder approval to delist from the Zimbabwe Stock Exchange (ZSE) and proceed with a major restructuring programme that will see its infrastructure assets moved into a specialised Infrastructure Company (InfraCo).
The resolutions were approved during an Extraordinary General Meeting (EGM) held in Harare yesterday, where more than 80 percent of voting shareholders endorsed the plan.
According to the company, the delisting and restructuring will enable Econet to respond more effectively to capital intensive technological demands and attract long-term infrastructure investment.
Econet Group CEO, speaking after the vote, said the decision marks “a turning point” in the company’s modernization journey.
“Our current operating environment requires telecom operators to evolve faster than traditional stock market structures allow. Creating a dedicated InfraCo allows us to focus on agility, innovation, and long term infrastructure sustainability,” he said.
Under the new structure, the InfraCo will handle fibre deployment, radio access networks, and future 5G expansion, while the parent company will concentrate on customer facing services.
Analysts say the restructuring is consistent with global trends in telecoms, where separation of infrastructure from services has become common.
Board Chairperson added that the delisting is not a withdrawal from public accountability.
“We remain committed to transparency and regulatory compliance. Our departure from the ZSE is purely strategic. We want a structure that supports investment in next generation networks at the scale Zimbabwe requires,” she said.
The company also assured customers and partners that there will be no service disruption.
“Our goal is continuity and improved quality of service. This restructuring is designed to strengthen not weaken our operational capacity,” the CEO noted.
Econet is expected to outline the implementation timeline and InfraCo governance framework in the coming weeks.
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