Africa-Press – Zimbabwe. HARARE, Nov. 17 (NewsDay Live) – Econet Wireless Zimbabwe has paid over $4.3 billion in taxes to the national fiscus, according to the telecommunications and technology company’s interim financial statements for the half year to August 2025.
The taxes, amounting to more than 31 percent of the company’s revenues, comprised $1.2 billion in income tax, $1.9 billion in Value Added Tax and $1.236 billion in excise duty.
The strong performance coincides with Econet’s recent recognition by the Zimbabwe Revenue Authority (ZIMRA), which awarded the blue-chip company the Customs and Excise Accolade for exemplary compliance and contribution to national revenue.
Econet posted inflation-adjusted revenue of $13.5 billion during the period, up 38 percent from the same period in the previous year, while profit surged by 331.9 percent to $2.9 billion.
Econet chairman James Myers attributed the strong results to sustained investment in network infrastructure and innovation.
He said mobile network operations contributed 82 percent of total revenue, while mobile financial services and insurance contributed 14 percent and 4 percent respectively.
“The positive financial outturn reflects the impact of our continued investment in the network. Data traffic doubled, while voice traffic grew by 34 percent compared to the same period last year,” he said.
“Capital expenditure equivalent to 12 percent of revenue was directed towards strengthening network quality and expanding coverage.”
The company maintained a firm EBITDA margin above 45 percent, supported by cost-optimisation measures that helped preserve healthy profitability margins.Econet’s mobile money unit, EcoCash, registered a 35 percent increase in transaction volumes, driven by an ongoing strategy to expand financial inclusion and widen access to digital financial services, particularly following the rollout initiated in August 2024.
In the InsurTech segment, Ecolife, grew individual life policies by 50 percent, while Moovah and Maisha recorded policyholder and membership increases of 31 percent and 63 percent respectively, reflecting rising uptake of flexible digital insurance solutions.
Myers said rising customer expectations for better quality of service, faster connectivity and wider network access had spurred accelerated infrastructure deployment across the country.
During the review period, Econet installed 26 lightweight base stations targeting rural and underserved communities, and another 27 sites elsewhere – including the 4G technology basestations. The company further intensified its 5G rollout, adding 100 new sites nationwide. These investments, he said, form the backbone of future innovation, including Internet-of-Things (IoT) services and new digital product offerings.
“The group remains committed to driving growth, with a strong focus on innovation and customer experience. Deployment of artificial intelligence to enhance efficiency, security and customer experience are key imperatives,” he said.
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