#MondayBlues: Mboweni Breaks Silence On Financial Constrains

Chief Executive Officer of Econet Wireless Zimbabwe Douglas Mboweni has spoken on how the current economic situation is affecting the telecommunication’s service delivery as the economy continues to be on the downturn.

The devaluation of the local currency, the introduction of the ZimDollar as the sole legal tender currency coupled with power cuts, has been the order of the day and this has affected businesses.

In a tweet yesterday, Mr Mboweni bemoaned some of the challenges that the company is facing.

“The cost of fuel has gone up by 500% and the local currency has lost over 900% in value to date. At the same time, our voice tariffs have increased by 33%,”

“1300 of our base stations run on generators for over 18 hours a day and they consume 2 million litres of fuel every month. We only receive 25% of this fule due to the current shortages,”

“We require over US$60 million to upgrade equipment and convert our sites to solar,” it read.

Econet has said it has not been possible to ensure and guarantee quality service delivery due to the current conditions where power cuts go for longer hours and fuel situation remains desperate.

Last week on Monday a statement was released that the telco was going to take drastic changes inorder to continue to provide services to customers. Some of these changes have been the increase in data charges to ensure that the business stays afloat.

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