Econet Wireless 2025 Financial Report: What You Need to Know

Econet Wireless, Zimbabwe's largest mobile network operator, plays a pivotal role in the daily lives of countless Zimbabweans. Its financial performance is therefore a key indicator of the country's digital landscape and economic trends. The recently released abridged consolidated financial statements for the year ended 28 February 2025 offer valuable insights into the company's growth and strategic direction. 

Understanding Econet's Financial Growth

Econet reported a substantial increase in its revenue. For the year ended 28 February 2025, the company's inflation-adjusted revenue reached ZWG 22.2 billion, a significant jump from ZWG 18.091 billion recorded in 2024. This represents a 23% growth year-on-year. In USD terms, this means revenue grew from approximately USD 688.43 million in 2024 to USD 844.88 million in 2025. This robust revenue growth suggests an expanding customer base and increased utilization of Econet's services, providing the company with more resources to invest in network improvements and innovative offerings that ultimately benefit the consumer.

Surging Data and Voice Usage

The report highlights impressive growth in both data and voice traffic, underscoring the increasing reliance of Zimbabweans on digital communication. Data usage saw a remarkable 36% increase year-on-year, while voice traffic grew by 23%. These figures demonstrate a clear trend: more Zimbabweans are connecting online and communicating via mobile. The surge in data usage, in particular, points to greater internet penetration and engagement with online services, which are crucial for accessing information, education, and e-commerce opportunities in today's interconnected world.

EcoCash: A Pillar of Digital Transactions

EcoCash, Econet's mobile money platform, continues to be a cornerstone of Zimbabwe's digital economy, showing remarkable growth in the past year. Transaction volumes on the platform grew by 21%, while transaction values soared by an astounding 210%. This substantial increase in transaction values indicates that larger sums of money are now being moved through the platform, solidifying its role as a vital financial tool for many Zimbabweans, especially those who may not have access to traditional banking services. Econet's ongoing initiatives to boost cash-in transactions and international remittance receipts further enhance the convenience for users, making it easier to send and receive money both domestically and from abroad.

Investing in Connectivity: Network Infrastructure Upgrades

Econet's commitment to improving connectivity is evident in its continued investment in network infrastructure. The company commissioned 77 new base stations and modernized 546 radio access sites. Furthermore, 60 5G sites were deployed nationwide, significantly strengthening Econet's capabilities to deliver high-speed connectivity. Crucially, to address the digital divide, Econet also deployed 10 lightweight, cost-effective base stations in remote rural areas.

These investments directly translate to tangible benefits for consumers: improved network coverage, faster internet speeds, and more reliable service. The expansion of 5G promises ultra-fast connectivity in urban centers, while the focus on rural base stations aims to bring essential mobile network coverage to previously underserved communities, ensuring that more Zimbabweans can access vital digital services.

FinTech Diversification: Expanding Financial Access

Econet's FinTech segment, which now encompasses mobile money and insurance businesses like Moovah, EcoSure, and Maisha Health, demonstrated strong performance. This segment achieved a 35% year-on-year revenue growth. Within this, the life insurance business recorded an impressive 51% year-on-year growth. This diversification signifies Econet's strategic move towards offering a more comprehensive suite of digital financial services. For consumers, this means greater access to insurance and other financial products, all conveniently accessible through mobile platforms, contributing to broader financial inclusion across the country.

The Role of AI in Enhancing Services

Econet is actively accelerating its digitization journey by integrating Artificial Intelligence (AI) into its operations. The company is leveraging AI to enhance operational efficiencies and drive cost productivity. While AI might seem like a complex technical concept, its application by Econet is designed to result in more personalized services, improved customer support through advanced chatbots, and more efficient network management. Ultimately, these AI-driven initiatives aim to deliver a better overall experience for Econet subscribers, making their digital interactions smoother and more effective.

Econet Wireless's 2025 financial results reflect a company that is not only growing but also strategically investing in its network and diversifying its digital offerings. The significant increases in revenue, data usage, and mobile money transactions, coupled with substantial investments in network infrastructure and FinTech expansion, underscore Econet's pivotal role in Zimbabwe's digital transformation. These developments collectively contribute to improved connectivity, more accessible financial services, and a continued push towards a more digitally empowered nation, positively impacting the daily lives of everyday Zimbabweans.