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Share Price: 250.50 RTGS cents
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Econet Wireless Zimbabwe Limited (

Econet Wireless Zimbabwe is a diversified telecommunications group; it is the largest enterprise of its kind in Zimbabwe and the largest company on the Zimbabwe Stock Exchange in terms of market capitilisation. Econet Wireless Zimbabwe provides products and solutions for mobile and fixed wireless telephony, public payphones, internet access and payment solutions. In 2009, Econet Wireless Zimbabwe became the first operator in Zimbabwe to launch data services with 3G capability. This was followed by an extensive project to expand its geographic coverage; building a fibre-optic network, providing financial transaction switching and point-of-sale and value-added retail support services. The company is a subsidiary of a privately-owned group controlled by its founder, Strive Masiyiwa. The group’s subsidiaries include Econet Global, Econet Wireless Africa, Econet Wireless International, Econet Enterprises, Liquid Telecom Group and Econet Media.

Three Reasons to Consider Investing in Econet Wireless Zimbabwe Limited (


The Industry Market Leader

Market leader across all product segments with 69% customer market share, 72% data traffic market share and 80% voice traffic market share. Our network has over +90% data population coverage with fastest upload and download speeds in the country

Resilient Business Model

Our businesses deliver value to customers across Telecommunications, Media and Technology spaces

Creating Value through a Sustainable Business

  • Sustained delivery of high quality digital services
  • Innovative transformation to the way we do business
  • Shareholder value preservation
  • Sustained contribution to society
See our share price in action

Our Share Price in Action

250.50 0.50 / 0.20%
Year to date 70.20%
52 Week Change 131.24%
52 Week Low
52 Week High


Sales Value ZWL(c) 250.50
Volume Traded 409,200
Value Traded ZWL$ 1,025,046.00
Market Cap ZWL$ 6,489,395,385
Shares issued 2,590,577,000


Sector Technology
Exchange Zimbabwe Stock Exchange
ISIN ZW 000 901 212 2
YEAR Listed 1998
Year End February


P/E 59.64
Div. Yield 0.771%
EPS ZWL(c) 4.20
P/B Ratio 4.40
EV / Ebitda 14.16
Find the most important share facts

Top Shareholders28th February, 2019

Econet Global Limited1,023,076,083 (39.49%)
Stanbic Nominees (Private) Limited (NNR)427,273,936 (16.49%)
Stanbic Nominees (Private) Limited230,862,200 (8.91%)
Other909,364,613 (35.10%)

Company Information

Registered Name Econet Wireless Zimbabwe Limited (
ISIN ZW 000 901 212 2
Ticker Code
Sector Technology
Stock Exchange Zimbabwe Stock Exchange
Chairman Dr James Myers
Chief Executive Douglas Mboweni
Company Secretary Charles Banda
Transfer Secretary First Transfer Secretaries (Pvt) Ltd (zw)
Year End February
Year Founded 1998
Year Listed 1998
Website Address
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Events Calendar

30 Jun 2020FY results Sign up for alerts to receive this document in your email as soon as its released N/A
31 Aug 2020HYHalf year endN/A
16 Sep 2020AR Sign up for alerts to receive this document in your email as soon as its released N/A
30 Dec 2020HY results Sign up for alerts to receive this document in your email as soon as its released N/A
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Documents and Reports

Econet Wireless Zimbabwe Limited ( invites you to review its latest published financial reports: half year reports, annual reports / reference documents. All the listed documents may also be downloaded.

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The facts that affect Econet Wireless Zimbabwe Limited (‘s underlying value.

Statement of Income extract All values in RTGS Dollars

  28 Feb 15 28 Feb 16 28 Feb 17 28 Feb 18 28 Feb 19 5-year trend
Revenues 746,183,000640,989,000621,705,000573,845,000808,741,000
Attributable PAT 70,258,00040,363,00036,978,00061,592,00011,363,000

Statement of Financial Position extract All values in RTGS Dollars

  28 Feb 15 28 Feb 16 28 Feb 17 28 Feb 18 28 Feb 19 5-year trend
Shareholders funds 660,770,000657,535,000693,752,000766,917,0001,473,308,000
Net interest bearing debt 302,188,000257,530,000(58,099,000)(291,386,000)(191,921,000)
Cash on hand 95,239,00099,715,000185,863,000350,191,000266,720,000
Interest bearing debt 397,427,000357,245,000127,764,00058,805,00074,799,000
Net current assets (57,954,000)(66,195,000)(67,805,000)(63,669,000)49,908,000
Our Corporate Governance

Corporate Governance

The Board recognizes that in order to effectively play its role of setting out the Group’s strategy and reviewing the Group’s strategic direction, it must observe good corporate governance and comply with emerging global governance requirements. It is the Board’s responsibility to ensure the Group observes generally accepted principles of corporate governance as enunciated in the various codes on corporate governance as well as compliance with laid-down regulatory obligations. The Board is fully cognisant of the standards set out in the King Codes and the Zimbabwe National Code on Corporate Governance and ensures that these are complied with in the Group.

As a listed entity on the Zimbabwe Stock Exchange the Group is obliged to comply with the latter’s Listing Rules. The Group’s operations are also subject to laws and regulations imposed by government and local authorities. The Board ensures that every effort is made to comply with these laws and regulations to the latter. The Board meets four times a year.

Board composition, balance and independence

The Board has eleven members: two executive directors, nine non-executive directors and five independent non-executive directors. The Board is chaired by an independent non-executive director. By ‘independent non-executive’ is meant independence from management and absence of any business relationship which might have an impact on the director’s independence of judgment and ability to act in the best interests of the Group.

The Articles of Association and the Companies Act (Chapter 24:03) provide that at least one third of the directors must retire at every annual general meeting and, if eligible, seek re-election.

Click on the board member’s image to view their profile


Committees to assist the Board exercise its authority

The Board has in place committees which assist it in dealing with issues in specific areas. The committees are governed by terms of reference set and approved by the Board. The committees report to the Board and make recommendations to it on matters dealt with by them. The Chairperson of each committee presents a report to the Board on behalf of the committee at every board meeting. Apart from dealing with specific matters delegated to them by the Board, the committees’ existence ensures that high standards of corporate governance are maintained in the Group.

The said committees are as follows:-

Note: Following changes in the Directorate, the Board Committees will be reconstituted and updated accordingly.

Audit Committee
Members: Mr. M Edge (Chairman), Dr J Myers, Mrs. S Shereni
Attendees: Mrs. T Mpofu, Mr. D Mboweni, Mr. K Chirairo, Mr. R Chimanikire

The Committee focuses on the quality of the Group’s financial reporting and the effectiveness of the Group’s systems of internal control and, in conjunction with the Risk Committee, risk management processes. It also oversees the integrity of internal audit and assurance and manages the relationship with the Group’s external auditors. The latter responsibility entails ensuring that the external auditors provide an effective and independent audit.

The Committee’s ultimate goal is to ensure the integrity of financial reporting and implementation of sound internal controls and risk management. The Committee considers and reviews reports from management with a view to assessing the quality of the financial reporting and compliance with disclosure requirements.

The external auditors attend the committee meetings to present their report on key matters and any findings deemed necessary to bring attention to the Committee. In terms of overseeing internal audit, the Group Chief Risk Officer attends the meetings and has direct communication lines with the Committee Chairman.

The Chairman and two members of the Committee are independent non-executive Directors.

Risk Committee
Members: Mrs. S Shereni (Chairperson), Mr. M Edge, Mr. D Mboweni

The Committee’s primary role is to oversee the effectiveness of risk and compliance management within the Group. The identification and management of risk are central to the Group’s objective of creating long-term shareholder value. Risks have the potential to impact the Group’s overall performance as well as its reputation. The Committee plays the critical role of identifying, analysing and assessing risk issues in order to prevent or minimize the likelihood of that impact.

The Committee co-ordinates and reviews information on risk management and ensures that the risk management systems are operating effectively. It reviews on behalf of the Board both operational and strategic risks with a view to ensuring that these are addressed timeously and effectively.

The Committee also monitors the Group’s compliance record, the objective being to ensure the Group meets its legal and regulatory obligations and in the process instill a culture of compliance and integrity.

The Group’s Chief Risk Officer attends the committee meetings and presents reports on risk management.

Remuneration Committee
Members: Dr. J Myers (Chairman)
Attendees: Mrs. T Mpofu, Mr. D Mboweni

The Committee’s overall responsibility is to review, on behalf of the Board, the Group’s remuneration structure and employment policies with a view to ensuring that the Group provides competitive rewards to attract, motivate and retain the required skills. During the year the Committee reviewed and recommended to the Board for approval, various incentive schemes aimed at retaining critical skills within the Group as well as alleviating the difficulties brought about by the continuing harsh environment.

The Committee also oversaw the implementation of a performance management programme; the programme entails an assessment of the individual’s performance, measuring this against performance targets. The objective of the programme is to not only achieve best performance by employees but, in the process, create long-term shareholder value. The programme also provides the opportunity to identify skills and capabilities for further development.

As part of its aim to enhance skills within the Group, the Committee also oversaw and approved a training and development programme. Under the programme various leadership and career progression development initiatives were implemented. Efforts were also made to address gender balance by increasing female representation at leadership levels. The Committee is chaired by an independent non-executive Director.

The Group’s Chief Human Resources Officer attends the committee meetings and presents reports on the Group’s employment profile.

Social and Ethics Committee
Members: Mr. G Gomwe (Chairman), Ms. B Mtetwa, Mrs. T Mpofu, Mr. K Chirairo

The Committee assists the Board in monitoring the Group’s social development programmes and initia