Econet results impressive, say stockbrokers

Telecommunications giant, Econet Wireless Zimbabwe Holdings Limited's results published this week have been desribed as very impressive by stockbrokers.

In an interview, a stockbroker with EFE Seucities (Private) Limited, Pheneas Mandaza, said the firm was heading towards massive growth coming at a time when Zimbabwe's economy is gradually picking up.

Inflation stands at about 3,1 percent among the lowest in the world and the region.

Econet is currently Zimbabwe's most popular mobile telephone operator with more than six million subscribers to its credit.

"Econet Wireless released their results for the interim period to August 31, 2011, showing growth in major measures from the top line to the bottom line," the stockbroker said.

"Looking to consolidate on their market leadership status the group is on a an innovation drive aimed at retaining subscribers by providing convenience to their customers."

He said added to this offering "is the recently launched mobile money transfer service ECO-CASH which should ultimately enhance the group’s performance if well managed by adding a new revenue line for the group".

Econet is listed on the Zimbabwe Stock Exchange.

It is currently Zimbabwe's second most heavily capitalised counter on the ZSE and a strong share price of more than $4,50 per share, among the highest on the bourse today.

Post published in: Business

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