Econet records increased services demand
Harare (New Ziana) – Mobile phone company, Econet has said its data and voice traffic grew 77 percent and 25 percent respectively during the quarter ending May in tandem with the increasing demand for digital services in the COVID-19 era.
The company said this was despite challenges, including inadequate access to foreign currency required for crucial network upgrades.
“Although we have been able to accommodate this capacity growth, it has put a lot of strain on our network. To date, investment in network infrastructure has positioned us to be the digital connectivity partner of choice for remote business operations, humanitarian and social connections,” the company said in a trading update.
“However, more investment is necessary to allow us to meet the increasing needs of our customers.”
Econet, which recently called for a tariff review, said the business continued to be resilient despite the challenging operating environment.
Tariffs were last reviewed in August 2020.
“We continue to work closely with the regulator to periodically review the sector specific cost models. Our goal is to ensure that our pricing remains relevant and appropriate for the consumer whilst allowing the company to generate sufficient resources for continued investment,” said Econet.
“Despite the continued uncertainty emanating from the Covid-19 pandemic, we are seeing the early signs of an economic rebound anchored on a record 2020/21 agricultural season and improving international mineral commodity prices. Managing the health and safety risks arising from the pandemic is critical as the business also focuses on increased digitalisation in all its functions.”
Going forward, the company said it had started exploring new opportunities brought about by recent changes in technology.
This, the company said, would help it transform into a fully-fledged digital services provider.
“We are refining our business model to deliver innovative digital solutions to the needs of our consumers. Connectivity, gaming, music and digital customer support, are some of the key themes in our digital lifestyle campaign. Our vision is to create a new digital future that leaves no Zimbabwean behind,” the company said.