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Econet Wireless Zimbabwe Limited (Econet), the telecom operator controlled by Zimbabwe’s richest man, Strive Masiyiwa, has expanded its fifth-generation (5G) network with the rollout of 60 new sites nationwide. The move is part of a wider modernization program aimed at strengthening its position in Zimbabwe’s fast-growing digital economy.
Econet boosts mobile services in Zimbabwe
Over the past year, Econet, the country’s largest mobile operator, also commissioned 77 new base stations, modernized 546 radio access facilities, and upgraded 365 microwave links to boost capacity. To reach underserved areas, it installed 10 lightweight, cost-effective rural base stations designed to provide reliable broadband in remote communities.
“These additional sites will ensure faster and more seamless connectivity for homes and businesses, while improving the quality of mobile broadband services,” said James Myers, chairman of Econet Zimbabwe, while presenting the company’s 2025 Integrated Annual Report. He added that the company had completed a core network upgrade in the second half of the year, giving it the capacity to deliver more competitive and personalized digital services.
Alongside network improvements, Econet invested in energy resilience, upgrading power infrastructure and deploying monitoring systems to optimise battery performance at its sites—an important step in a country where load-shedding continues to disrupt services.
Digital payments fuel stronger returns
For the year ended Feb. 28, 2025, Econet recorded a 36 percent increase in data traffic and a 23 percent rise in voice usage, highlighting the steady demand for mobile services. EcoCash, its mobile money arm, saw a 21 percent increase in transaction volumes and a 210 percent jump in transaction values, underscoring the growing reliance on digital payments.
Econet declared a final dividend of $0.0073 per share, equal to $18.91 million, bringing its total payout for the financial year to $0.0176 per share. The decision reflects the company’s effort to balance investment in growth with steady returns for shareholders, even in Zimbabwe’s difficult economic climate.
Strive Masiyiwa’s vision powers digital Africa
Econet, a key subsidiary of the Econet Group, holds more than 70 percent of Zimbabwe’s mobile market and serves over 14 million subscribers. Its reach extends beyond Zimbabwe, with operations in Africa, Europe, South America, and East Asia.
Strive Masiyiwa, who owns a controlling 52.85 percent stake in the company, has long been a central figure in African telecoms. With a net worth of $1.3 billion, he remains one of the continent’s wealthiest individuals and a driving force in Zimbabwe’s digital sector. His leadership has kept the company focused on combining infrastructure investment with digital innovation, a balance that has shaped its long-standing dominance in the market.
Econet eyes AI to boost growth
Looking ahead, Econet plans to integrate artificial intelligence (AI) into its operations to improve efficiency, expand its services, and support revenue growth. Together with its expanded 5G coverage, the strategy signals the company’s ambition to play a defining role in Zimbabwe’s digital future while continuing to deliver value to its shareholders.
