Telecommunications giant Econet Wireless Zimbabwe says it has recorded a 70% drop in connectivity-related customer complaints after upgrading its network during the year ended February.
Zimbabwe’s largest mobile telecoms operator undertook a network modernisation programme across 400 sites, introducing high-capacity tech, including 4G-capable infrastructure and additional frequency bands.
Econet has 16,98 million connected customers, a figure that surpasses Zimbabwe’s estimated 16 million population as many subscribers use multiple SIMs or services.
“Our capital allocation strategy continued to prioritise network infrastructure enhancement, resulting in the deployment of 77 new 4G base stations during the reporting period,” group chief executive officer Douglas Mboweni said in the group’s annual report.
“This strategic investment yielded measurable operational improvements, including a 70% reduction in connectivity-related customer complaints and enhanced network reliability across our coverage footprint.”
Capital expenditure rose to ZiG3,5 billion, up from ZiG2,3 billion the previous year.
Econet also focused on the 5G roll-out, and strengthening digital services infrastructure.
The firm’s data services now deliver high-speed internet through 3G, 4G/LTE, and 5G networks for individuals, households, and businesses.
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Recently, the company also began deploying artificial intelligence (AI)-powered network optimisation to enhance speed and efficiency amid growing demand.
Mboweni said infrastructure expansion reinforced Econet’s market leadership while enabling digital inclusion in key sectors such as education, healthcare, and commerce.
“Building on this foundation, we have commenced the strategic deployment of 5G base stations nationwide, with 60 having been deployed, positioning Econet at the forefront of Zimbabwe’s next-generation telecommunications infrastructure,” he said.
“Through AI-driven network optimisation and strategic spectrum utilisation, we anticipate delivering enhanced service quality, expanded coverage, and sustainable revenue diversification.”
Econet reported year-on-year growth of 36% in data traffic and 23% in voice traffic.
Looking ahead, Mboweni said Econet was well placed to capitalise on opportunities within Zimbabwe’s digital economy.
“Our continued investment in 5G infrastructure, AI-driven solutions, and financial inclusion initiatives positions the company to deliver sustainable shareholder value,” the annual report said.
“We remain committed to our mission of driving digital transformation while generating long-term value for all stakeholders.”
Capital expenditure for the current year will be financed from the group’s own resources and existing facilities.
Econet registered a 23% revenue increase to ZiG22,2 billion. The group swung from a loss to report a profit after tax of ZiG2,3 billion.
In March 2024, Econet reacquired its fintech businesses, significantly boosting group revenue. Total assets closed the period at ZiG23,62 billion, representing a 59% increase from the prior year.
