Econet Zimbabwe sees full year sales slip 14%

Mergers, Acquisitions and Financial Results

Econet Wireless Zimbabwe has reported revenues of USD641 million for its financial year to end-February 2016, down 14% on the year-earlier period. EBITDA fell from USD286 million to USD238 million, while net profit dropped to USD40 million, from USD70 million in 2014/15.

According to local news portal TechZim, broadband services contributed 18% of overall revenues, up from 14% the previous year, while EcoCash mobile money services brought in USD87 million compared to USD73 million in the prior year.
Source: Telegeography 1 June 2016