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Econet Wireless Zimbabwe is reaping the rewards of its strategic decision to re-integrate its fintech operations, with the group reporting robust growth across key performance indicators in its latest financial results.
For the year ending February, Econet posted significant gains in both digital and voice services, underscoring the success of its renewed operational model. According to reports, the telecoms and technology giant saw a 36% surge in data usage and a 23% increase in voice traffic, crediting the performance to consistent investment in network infrastructure.
But it’s the fintech rebound that is drawing the most attention. The company’s decision to bring back EcoCash and related fintech subsidiaries originally spun off in 2018 has proven to be a masterstroke. Transaction volumes on the EcoCash platform grew by 21%, while the value of transactions skyrocketed by 210%, driven by rising activity in customer wallets and increased user funding.
“This strategic transformation has yielded the intended benefits, positioning us for continued success,” Econet said in a statement. “As we move forward, our focus remains on further consolidation and optimisation, leveraging the strengths of our integrated businesses to deliver enhanced value to our stakeholders.”
The company has already begun expanding its payment partner network to sustain the fintech momentum, aiming to deepen customer engagement and ecosystem growth. The performance marks a turning point for Econet’s digital financial services, once seen as a separate arm, now fully woven into the group’s long-term strategy.
As Zimbabwe’s digital economy continues to evolve, Econet’s move to reunify its tech and financial services platforms signals a bold approach to resilience and innovation in a challenging economic environment.
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