Econet Wireless Zimbabwe FY22 earnings surge to US$43m from US$6m year prior

Published On: July 25, 2022By Tags: Southern-Africa

Econet Wireless Zimbabwe, FY 2022 earnings increased to US$43 million from US$6 million in FY 2021.

Highlights:

  • FY 2022 revenue increased to US$182m from US$121m in FY 2021.
  • Foreign Exchange loses declined to US$12m compared to US$35m year prior.
  • 2022 profitability improved as reflected by an increase in operating margins from 35% to 40%.
  • FY 2022 dividend down 40% as the company did not declare a final dividend.

Investor Issues

Foreign currency loans and US$ availability are among Econet’s constraints.

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About the Author: Hartland-Peel Africa Equity Research

Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.