Econet Wireless consolidates position

25 Jan 2006

Zimbabwean cellco Econet Wireless’ subscriber base increased by more than two-thirds in 2005, consolidating its position as the country’s largest mobile operator. The company missed its target of increasing its customers to 500,000, but its base expanded by 69% to 412,197 in the year, following network expansion to meet increasing demand. Econet’s 2005 operating profit grew by 492% to ZWD767 billion (USD7.736) million from ZWD120 billion in 2004; the group’s turnover was ZWD1.4 trillion, representing growth of 502% from ZWD263 billion in the previous year.