Econet Wireless Zimbabwe has acquired one million subscribers to
its money remittance service Ecocash in less than six months after
its launch.
“This and other achievements were realised due
to our ability to access funding at a time when the business
community was groaning under the weight of a crippling liquidity
crisis,” Econet Wireless Zimbabwe’s chairman Tawanda Nyambiraiaid
said.
Go deeper with GlobalData
The service’s success is related to its
interoperability, Nyambiraiaid said. EcoCash allows consumers to
transfer funds from and to all mobile telephone networks.
Econet’s market share in mobile penetration
rose from 66% to 74% in the past year.
“[Mobile] subscribers rose 16% during
the year to 6.4m,” Nyambiraiaid said.
“The business has also been able to
consolidate and expand its service offerings based on latest
technologies and now commands the most extensive data and voice
coverage and capacity in the country,” highlighted
Nyambiraiaid.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataEconet’s net profit amounted over $165m, 13.8% higher than last
year.
