Zimbabwe’s largest mobile telecommunications network Econet Wireless Zimbabwe will adopt a new business model focussed on delivering digital solutions as a measure that will help it survive Zimbabwe’s prevalent economic crisis.
Charles Banda, the company secretary outlined that Econet will transform from a communications service provider into a digital service provider. Banda has confidence that the new business model will improve earnings, raise revenues, and sure sustainable growth. The company can also leverage its extensive infrastructure network.
As we move into the next decade, the company aims to adopt business models that deliver digitized solutions.
According to Banda, Econet will pivot towards cost-containment and the management of cash flows for the rest of the financial year as Zimbabwe faces a hyper-inflated environment. Econet’s data traffic shot up by 90% due to the pandemic as more Zimbabweans were forced to adopt virtual platforms.
Voice traffic volumes rose by y 0.1% while SMS increased by 32%.
Source: Business Times