Econet reports interim results

29 Oct 2012

Econet Wireless Zimbabwe has revealed that its revenue for the six months ending 31 August grew 17% year-on-year to reach USD339.5 million. However, operating costs increased 16% to USD186 million with the company citing electricity supply problems as a major challenge during the period under review; approximately 50% of its base stations have had to use generators. The cellco’s subscriber base climbed 24% during the six-month period, standing at 7.05 million at 31 August and equivalent to a subscriber market share of more than 70%. The company also announced that of the USD307 million it raised from financial institutions, USD255 million was used to refinance existing facilities with the remainder spent on network expansion.

Zimbabwe, Econet Wireless Zimbabwe,

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