On the Money News - In Brief

Mergers, Acquisitions and Financial Results

- Mobile operator Econet Wireless Zimbabwe has posted a 16% increase in net income in the first six months of its fiscal year 2011/12. After-tax profit reached USD74 million in the period March-August 2011, up from USD64 million in the same period of last year, on six-month revenues which rose by 24% year-on-year to USD291 million. Zimbabwe’s cellular market leader reported that its subscriber total reached 5.5 million at the end of August, up from 4.6 million twelve months earlier.