Johnson Progress

Econet Wireless Zimbabwe has reported a dramatic 44% increase in voice call volumes for the quarter ending May 31, 2025, challenging the widespread belief that traditional voice services are in terminal decline within the telecommunications sector.

The company’s quarterly trading update, released this week, revealed this unexpected surge alongside a more than doubling of data traffic during the same period.

This robust performance in both legacy and modern services underscores resilient consumer demand across Econet’s offerings.

“The rise in voice call volumes highlights that there is still strong demand for traditional services, despite the industry’s focus on data,” the company stated, indicating a potential industry reassessment.

Infrastructure expansion continued, with Econet commissioning 20 new sites and significantly boosting its next-generation network by adding 100 new 5G coverage locations across Zimbabwe.

Financially, the group demonstrated stability.  Overall revenue, adjusted for inflation, remained steady year-on-year.

Growth was driven by increased activity in both its core Mobile Network Operations (MNO) and its rapidly expanding Financial Technology (FinTech) division.

The FinTech sector saw particularly strong results: EcoCash transaction volumes grew by 27%.

Wallet funding surged by a massive 110%. Insurance divisions exploded: EcoSure (life) policies rose 43%, Moovah (short-term) policyholders jumped 69%, and Maisha (medical aid) membership skyrocketed 92% compared to Q1 2024.

Reflecting confidence in its trajectory, Econet’s Board declared an interim dividend of 0.63 US cents per share.

Looking forward, Econet expressed optimism for continued growth in both mobile and fintech.

The MNO division anticipates ongoing increases in data usage, subscriber growth, and improved pricing.

The FinTech arm expects accelerated expansion fueled by greater digital adoption, wider mobile money services, and new product launches.

Innovation remains central to Econet’s strategy, aimed at boosting efficiency and customer value while maintaining stable profit margins.

Analyst Walter Mandeya of Trigrams Investments noted: “Econet’s first-quarter results show a balanced approach, leveraging unexpected strength in voice services while pushing for data-driven growth and breaking down barriers to device affordability for broader digital access.”