Econet Wireless Zimbabwe Reports Strong Growth in Voice Calls and Data Traffic
Econet Wireless Zimbabwe has announced a remarkable 44 percent increase in voice call volumes for the quarter ending May 31, 2025. This challenges the common belief in the telecommunications industry that traditional services are declining.
The company also reported more than double the data traffic during the same period, as detailed in their quarterly trading update released this week.
The rise in voice call volumes highlights that there is still strong demand for traditional services, despite the industry’s focus on data.
Econet has commissioned 20 new sites and expanded its 5G coverage by an additional 100 locations across Zimbabwe.
The company’s overall revenue, adjusted for inflation, remained steady year-on-year, fueled by increased activity in both its Mobile Network Operations (MNO) and Financial Technology (FinTech) divisions.
In the FinTech sector, EcoCash transaction volumes grew by 27 percent, supported by a significant 110 percent rise in wallet funding.
The company’s insurance divisions also saw impressive growth: EcoSure (life insurance) reported a 43 percent increase in policies, Moovah (short-term insurance) had a 69 percent rise in policyholders, and Maisha (medical aid) saw a 92 percent increase in membership compared to the same quarter last year.
To show confidence in its future, the Board declared an interim dividend of 0.63 US cents per share.
Looking ahead, Econet is optimistic about continued growth in its mobile and financial technology sectors. The MNO division expects ongoing increases in data use, subscriber growth, and improved pricing strategies.
The FinTech division anticipates faster growth due to greater digital adoption, expanded mobile money services, and new financial products.
Innovation is key to the company’s strategy to improve efficiency and customer value while keeping profit margins stable.
Analyst Walter Mandeya from Trigrams Investments noted, “Econet’s first-quarter results show a balanced approach, leveraging unexpected strength in voice services while pushing for data-driven growth and breaking down barriers to device affordability for broader digital access.”
*-Herald*
