Econet Wireless Zimbabwe records 458,340 more subscribers

Econet Wireless, Zimbabwe’s leading mobile network operator, has reported a remarkable increase in active mobile subscriptions and revenue for the fourth quarter of 2024, according to the latest sector performance report from the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ).

The report indicates that Econet’s active mobile subscriptions grew by 4.21%, rising from 10,874,464 in the third quarter to 11,332,804. This increase contributed to a national mobile penetration rate of 102.26%, reflecting a 3.66 percentage point rise from the previous quarter.

In terms of revenue, Econet achieved a whopping 88.82% growth, with total earnings soaring to ZWG6.42 billion, up from ZWG3.40 billion in Q3 2024. This surge in revenue was largely attributed to the devaluation of the local currency, which significantly impacted nominal figures.

By Ropafadzo Mashawi

Econet’s total voice traffic also saw significant growth, increasing by 41.78% from 2.81 billion minutes to 3.98 billion minutes. The report highlights a notable jump in net-on-net traffic, which grew by 49.81%, indicating a strong demand for voice communication among users, particularly during the festive season.

The operator’s market share in mobile voice traffic improved as well, climbing to 88.61%, up from 86.44% in the previous quarter. This positions Econet as the dominant player in the Zimbabwean telecommunications market.

Econet’s investment in infrastructure also continued, with a focus on enhancing network quality and speed. The deployment of 5G base stations increased significantly, reflecting the company’s commitment to improving service delivery.

The sector outlook remains optimistic, with expectations of continued growth driven by technological advancements and increased consumer demand for data services. As Econet continues to innovate and expand its offerings, it is well-positioned to capitalize on emerging trends in the telecommunications landscape.

With these results, Econet reinforces its position as a leader in the telecommunications sector, demonstrating resilience amid economic challenges and a commitment to enhancing connectivity for all Zimbabweans.