The Board of Directors of Econet Wireless Zimbabwe Limited is pleased to announce the results of the 27th Annual General Meeting of the Company held on Thursday 28 August 2025.
Results of the AGM
The Shareholders present at the AGM considered and approved the following resolutions:
RESOLUTIONS
| ORDINARY BUSINESS | RESULTS |
|---|---|
| 1 Adoption of financial statements for the year ended 28 February 2025 To receive and adopt the financial statements for the year ended 28 February 2025 together with the reports of the Directors and auditors thereon. |
PASSED |
| 2 Election of Directors In accordance with Article 81 of the Company’s Articles of Association, the following Directors retire by rotation at the Company’s Annual General Meeting, and being eligible, offer themselves for re-election. Each Director shall be separately elected. |
|
| 2.1 To re-elect Mr M. Gasela as a Director of the Company; | PASSED |
| 2.2 To re-elect Ms T. Moyo as a Director of the Company; and | PASSED |
| 2.3 To re-elect Mr R. Chimanikire as a Director of the Company. | PASSED |
| 3 Directors’ Remuneration To approve the fees paid to the Directors for the year ended 28 February 2025. |
PASSED |
| 4 Auditors 4.1 To approve the auditors’ remuneration for the previous year. |
PASSED |
| 4.2 To consider the re-appointment of BDO Zimbabwe Chartered Accountants as auditors of the Company until the next Annual General Meeting. | PASSED |
| SPECIAL BUSINESS | RESULT |
|
5 Renewal of Share Buy-back Authority To consider, and if thought fit, to adopt, with or without amendment, the following resolution: As a Special Resolution: “That the Company, as duly authorized by Article 10 of its Articles of Association, may undertake the purchase of its own ordinary shares in such manner or on such terms as the Directors may from time to time determine, provided that the repurchases are not made at a price greater than 5% above the weighted average of the market value for the securities for the five business days immediately preceding the date of the repurchase and also provided that the maximum number of shares authorized to be acquired, which in aggregate in any one financial year, shall not exceed 10% (ten percent) of the Company’s issued ordinary share capital. That this authority shall expire at the next Annual General Meeting and shall not exceed beyond 15 months from the date of this resolution”. |
PASSED |
By order of the Board
Ms T.A. Ngowe
GROUP COMPANY SECRETARY
28 August 2025
| Registered Office: Econet Park, 2 Old Mutare Road, Msasa, Harare, Zimbabwe. Email: [email protected] Website: www.econet.co.zw |
Registrars and Transfer Secretaries: First Transfer Secretaries (Private) Limited, 1 Armagh Avenue, Eastlea, Harare, Zimbabwe Email: [email protected] |
Directors: Dr. J. Myers (Chairman)*, Dr. D. Mboweni (Chief Executive Officer), Mr. R. Chimanikire (Deputy Chief Executive Officer), Dr. J. Chimhanzi*, Mr. M. Gasela*, Mr. G. Gomwe*, Ms. E.T. Masiyiwa*, Ms. B. Mtetwa*, Mr C.L. Moyo (Finance Director), Ms T. Moyo*, Mr. H. Pemhiwa*. *Non Executive.
