Econet Wireless Zimbabwe

About

Econet Wireless Zimbabwe is the leading telecommunications company in Zimbabwe, providing mobile network services, internet connectivity, and digital solutions to millions of customers. Econet is a subsidiary of the Econet Group, founded by Strive Masiyiwa. The company has historically played a pivotal role in Zimbabwe's communication infrastructure.

In a significant strategic shift announced in late 2025, the company initiated a restructuring process to separate its mobile network operations from its infrastructure assets. This move involves voluntarily delisting its core mobile network business from the Zimbabwe Stock Exchange (ZSE) to operate as a private entity, while spinning off its passive infrastructure into a new, separate company listed on the US Dollar denominated Victoria Falls Stock Exchange (VFEX).

Company History

Econet Wireless Zimbabwe was founded in 1998 following a protracted legal battle with the government for an operating license. Founder Strive Masiyiwa successfully challenged the state monopoly in a landmark court case, allowing Econet to launch as the first privately owned mobile network operator in Zimbabwe.

Since its inception, the company has driven growth and innovation in the sector, introducing mobile money, broadband, and digital platforms. Despite navigating a volatile economic environment, it has maintained its market dominance, controlling the majority of voice and data traffic in the country.

2025 - 2026 Restructuring and Delisting: In December 2025, after 27 years on the ZSE, Econet announced plans to delist its mobile network operator (MNO) business. The company cited that the local bourse, trading in the Zimbabwe Gold (ZiG) currency, significantly undervalued its business compared to regional peers and failed to reflect the true worth of its assets.

To unlock value and access foreign capital, Econet unbundled its tower and infrastructure assets into a new entity, Econet Infrastructure Company Limited (Econet InfraCo). While the customer-facing MNO business became private, Econet InfraCo was established to hold the company’s towers, real estate, and power assets, listing them on the VFEX to attract investment in hard currency.

Products and Services

Econet Wireless Zimbabwe offers a wide range of telecommunications and digital services.

List of Products and Services:

• Mobile Network Services – Voice calls, SMS, and mobile data packages.
• EcoCash – A mobile money platform that allows users to send, receive, and store money digitally.
• Econet Broadband – High-speed internet services for homes and businesses.
• Kwese iflix – A video-on-demand streaming service.
• Econet Business Solutions – Enterprise communication and cloud services.
• Steward Bank – A digital banking service under the Econet Group.
• EcoSure – Mobile-based insurance services.
• EcoFarmer – An agricultural information and financial service platform for farmers.
• Vaya Africa – A ride-hailing and logistics service.

These services have helped the company diversify its revenue streams and adapt to the changing demands of Zimbabwe’s digital economy.

Internal Structure

Econet Wireless Zimbabwe operates under a structured corporate governance system, with different departments handling telecommunications, digital services, and financial technology. The company has a board of directors that oversees its operations, ensuring compliance with regulatory requirements and strategic objectives.

The current CEO of Econet Wireless Zimbabwe is Douglas Mboweni, who has been in the position since 2002. Under his leadership, the company has expanded its services and maintained its position as a leading telecommunications provider in Zimbabwe. Mboweni has overseen various initiatives, including the growth of mobile money services and digital transformation within the company.