Zimbabwean telecommunications operator Econet Wireless has reported a 14 per cent rise in revenue for the year ending February 28, 2013.
The biggest success story was Econet’s mobile money service EcoCash, which saw a 62 per cent increase in subscribers to 2.1 million.
Furthermore, the agency network that supports the accessibility of EcoCash grew by 242 per cent to 3,000 agents.
HumanIPO reported last week Econet had been the first telecommunications company to renew its licence in light of the change of term from 15 years to 20 years and the price increase from US$100 million to US$137.5 million.
Total revenue for the 12 month period was US$694.8 million, an increase of 14 per cent year on year.
Profit after taxation was US$139,938,220, but there was no dividend paid to shareholders for 2012/13. Headline earnings per share were US$0.09.
