Econet invests US$66 million in network modernisation

ECONET Wireless (Econet) says it invested US$66 million as part of its network modernisation programme in the year ended February 28, 2023.
The country’s largest telecommunications company has invested over US$3 billion in infrastructure since its inception.
“Network expansion and upgrades remain imperative to support business sustainability, which has been hampered by several years of under investment, due to ongoing macro-economic challenges,” James Myers, Econet chairman, said in a statement accompanying the group’s financials.
Econet’s revenue increased 20 percent to $339 billion during the year driven by growth in voice and data usage of 19 percent and 58 percent, respectively.