It is no secret that Econet Global is a corporate telecommunications giant. In Zimbabwe, you’ll be hard-pressed to find a soul that hasn’t seen or heard what Econet is. This nationwide and international fame is clear evidence that Econet is a big player within the telecommunications industry.
Econet has managed to achieve this growth by being on the cutting edge of technological advancements in the telecoms field as well as an aggressive growth push to establish itself as the number one mobile telephony service provider in Zimbabwe.
As of today, Econet is said to have at least a 61% market share in the telecommunications mobile industry.
How Many Subsidiaries Does Econet Have?
Econet has at least 12.4 million connected subscribers from across the country. In Zimbabwe, the majority of urban and rural area residents have an Econet line and keep either a NetOne or Telecel line as a secondary one.
Who is the Founder of Econet?
Econet was founded by Zimbabwean billionaire and philanthropist, Strive Masiyiwa, who attended his education at the University of Wales. Strive Masiyiwa had to fight to establish Econet as he had to challenge the monopoly of the Zimbabwean government in the telecoms field.
The fight was well worth it and has paid off in a big way as it was the stepping stone to making him southern Africa’s richest man in 2022. Strive Masiyiwa is currently based in London, United Kingdom.
Is Econet Global Listed On The Stock Exchange?
Currently, Econet Global is not listed on any stock exchange as it remains privately owned. This is because The founder and the executive team collectively agreed that they would actually want to avoid the divorce between ownership and control. However, one of its subsidiaries Econet Wireless is listed on the Zimbabwe Stock Exchange (ZSE).
How many people use Econet?
Econet has managed to capture the majority of mobile phone users in Zimbabwe over its 22-year history. This is mainly due to their aggressive approach as far as innovation is concerned. They have managed to capture 61% of the market which amounts to about 12.4 million users.
Ask most Zimbabweans and they will tell you that they have an Econet line as their main number and one or both of the other two as secondary numbers.