Econet Wireless @20: Young and still growing!

By Published On: July 11th, 2018Categories: Articles

Market Leader of mobile networks in Zimbabwe. Real game changer & heavyweight in the tech industry home & abroad via innovation

 

A postal and telecommunications sector performance report has shown Econet Wireless leading in the information, communication technology (ICT) industry infrastructure investment.

The report, unveiled by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) on Monday reveals that as at the end of the March 2018, Econet had 52% market share of 2G base stations, ahead of its mobile sector peers NetOne, which had 35% market share, and Telecel, which had 14%.

The report by the industry regulator revealed that in the 3G data technology category, Econet had an even larger infrastructure market share of 57%, in comparison to NetOne, which had 28%, and Telecel, which managed a 15% market share.

The sector report showed a yet wider lead in high-speed LTE data technology investment by Econet in comparison to its peers, with the company garnering 68% market share, ahead of NetOne – at 30% – and Telecel at 2%.

Econet, which celebrates its 20th anniversary this week, commenced operations on July 10, 1998.

The company has since grown to be the industry market leader, with a 65% overall customer market share of active mobile subscribers, according to the industry report.

By comparison, Econet’s licensed peers NetOne and Telecel – which both begun operations before Econet –  were shown with 23% (NetOne) and 12% (Telecel) market share at the end of the first quarter of 2018.

Listed less than a year after it commenced operations, Econet Wireless is now firmly established as a listed blue-chip company and one of the Zimbabwe Stock Exchange’s heavy weight counters, attracting interest from both local and international investors.

The Potraz sector report showed that Econet was the only operator in Q1 of 2018 that grew its mobile data traffic share, from 64.6% to 67.1%. NetOne’s mobile data traffic share fell from 29.2% to 27.8%, while Telecel’s data traffic share dropped from 6.2% to 5.1%…

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The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.

Econet Wireless Zimbabwe Limited (ECO.zw)

Share price: 28,533.50 ZWL cents ▲ (54.81 | 0.19% – 22/03/23)

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