Expanded progress documented across mobile network, financial services, and insurance sectors in Q3 by Econet.
In a period spanning late 2024 and mid-2025, Econet Wireless Zimbabwe faced significant network issues, with deteriorating service quality causing frustration among subscribers and public outcry on social media [1][2][3]. These problems included frequent outages, slow internet speeds, and dropped calls, particularly in high-density urban areas where demand was highest.
During this challenging time, the telecom operator reported a 25% increase in motor and non-motor insurance customers, an indication of diversification in its service offerings [4]. Additionally, there was growth in mobile money volumes and transactions, and voice usage increased by 20% compared to the same quarter in 2023 [4].
However, the persistent connectivity problems and the public's increasing shift toward Elon Musk’s Starlink satellite internet service suggest that Econet may have experienced negative impacts on subscriber growth and revenue generation during the September to November 2024 period [1][2][3].
Despite the network struggles, Econet invested in its network and upgraded its core systems, improving key systems like billing and charging and adding advanced digital and AI features [4]. By mid-2025, Econet announced a network upgrade in Victoria Falls ahead of a major event, focusing on boosting its 5G network infrastructure [4]. This upgrade, however, was after the September-November 2024 period and likely part of a longer-term response to ongoing service challenges.
In early 2025, Econet recorded a strong increase (20.68%) in mobile internet and data traffic, indicating some recovery or growth in usage following the troubled period [5]. Econet Wireless Zimbabwe also reported steady growth across all business units from September to November 2024 [4].
The new network supports services like high-quality voice calls over 4G (VoLTE) and Smart4Home, a wireless product for heavy data users [4]. Econet set up 20 new 5G sites nationwide, upgraded 16 new base stations, 33 radio sites, and 270 microwave links, improving service quality and speed [4]. These upgrades contributed significantly to the group's revenue growth, with mobile network operations revenues increasing by 42% or 43% in the quarter [4].
EcoCash, Econet's mobile money service, also saw growth, with active subscribers increasing by 55% and wallet funding increasing by 79% in the quarter [4]. However, Econet cautions against the usefulness of converted ZWL amounts due to distortions in a hyperinflationary economy [4].
In summary, while Econet Wireless Zimbabwe faced significant network challenges during the specified period, it reported steady growth across all business units and made network upgrades to improve service quality. The telecom operator's focus on diversifying its services and improving infrastructure suggests a long-term commitment to addressing operational stress and growing competitive pressure.
In the face of network issues and public discontent, Econet Wireless Zimbabwe saw a 20% surge in voice usage and a 25% uptick in mobile money volumes, demonstrating the resilience of its business as well as the growing importance of digital finance in the technology sector [4]. Furthermore, the telecom operator's mobile money service, EcoCash, experienced a 55% increase in active subscribers and a 79% rise in wallet funding, signifying the strategic significance of this financial service for the company's long-term growth [4].
