Econet posts massive growth

Zimbabwe’s largest mobile cellular company, Econet Wireless has recorded US$113 million (about R836.2million) after-tax profit for the year-end February.

Econet Wireless’ share price rose from US40c this week to US539, 99c at the Zimbabwe Stock Exchange (ZSE).

The positive development comes at a time Econet Wireless’ subscriber base has leap-frogged from slightly above one million to an estimated four million subscribers.

Econet Wireless chairman, Tawanda Nyambirai, said there were plans to inject about US$300 million (R2.2 billion)towards network expansion .

By Marcus Mushonga