Shareholders are advised that the Board of Directors of Econet Wireless Zimbabwe Limited (the “Company”) is considering proposals to call for an Extra Ordinary General Meeting of Members for the purpose of considering a renounceable rights issue (the “Rights Issue”) of new ordinary shares in the capital of the Company (the “Rights Shares”) to raise a total amount of approximately US$30.3 million that is required to redeem the outstanding Debentures in the Capital of the Company.

Accordingly, Shareholders and the investing public are advised to exercise caution when trading in the Company’s securities until such time as the full details of the proposed rights issue are published.

By order of the Board

C.A. Banda
Group Company Secretary

5 April 2023

Directors:
Dr. J. Myers (Chairman)*, Dr. D. Mboweni (Chief Executive Officer), Mr. R. Chimanikire (Deputy Chief Executive Officer), Dr. J. Chimhanzi*, Mr. M. Edge*, Mr. M. Gasela*, Mr. G. Gomwe*, Miss. E.T. Masiyiwa*, Ms. B. Mtetwa*, Mr C.L. Moyo (Finance Director), Ms T. Moyo*, Mr. H. Pemhiwa*. *Non Executive.

Econet Rights Issue Cautionary Announcement – 5 April 2023.pdf