THE 2024 Econet Victoria Falls Marathon is expected to draw more than 5,500 participants from around the world, marking a notable surge in athletes and running enthusiasts participating at the event this year.
Speaking ahead of this year’s event, Econet Wireless Zimbabwe Group chief executive officer, Dr Douglas Mboweni, said the company was looking forward to the event, and ready to welcome local and international participants at Africa’s Number One marathon, set to be held on Sunday, July 7, in the resort town of Victoria Falls.
“We are looking forward to the marathon and are thrilled by the ever-growing local and international appeal of the event, an indicator that more and more people are adopting wellness and a healthy lifestyle,” he said.
“It’s clear that the Econet Victoria Falls Marathon has become a major highlight on the global marathon calendar globally, and we are excited to welcome runners from all over the world to this great event.”
The 2024 Marathon, running under the theme: “Road to Victory”, offers a variety of distances to cater for any runners.
Econet has advised participants to choose from the famed, full 42km marathon, the half marathon (21km), a collaborative team relay with two runners doing 10.5km each, or the more popular 7.5km Family Fun run.
Now in its 16th year, the Econet Victoria Falls Marathon has cemented its reputation as a top African running event.
The race’s renowned scenic route takes runners on an unforgettable journey through the breathtaking landscapes and wild life surrounding the iconic Victoria Falls, allowing participants to enjoy its grandeur up-close.
Dr Mboweni said the Econet Vic Falls Marathon was now more than just a race, but a catalyst for local and international tourism.
“There is no doubt the event has become a catalyst for tourism in our nation, and a tool for positive change in our local communities,” he said.
He said as visitors flock to Vic Falls from around the world, tourism flourishes, “benefiting local businesses, hotels and lodges, and the entire travel and tourism industry”.
Registration for the Marathon has been streamlined for convenience, with participants able to sign up and make payments online.

The 2024 Econet Victoria Falls Marathon is expected to draw more than 5 500 participants from around the world, marking a notable surge in athletes and running enthusiasts participating in the event this year.
Speaking ahead of this year’s event, Econet Wireless chief executive, Douglas Mboweni said the company was looking forward to the event, and ready to welcome local and international participants at Africa’s Number One marathon, set to be held on Sunday, July 7, in the resort town of Victoria Falls.
“We are looking forward to the marathon and are thrilled by the ever-growing local and international appeal of the event, an indicator that more and more people are adopting wellness and a healthy lifestyle.
“It’s clear that the Econet Victoria Falls Marathon has become a major highlight on the global marathon calendar globally, and we are excited to welcome runners from all over the world to this great event.”
The 2024 marathon, running under the theme “Road to Victory”, offers a variety of distances to cater for any runners. Participants can choose from the famed, full 42km marathon, the half marathon (21km), a collaborative team relay with two runners doing 10.5km each, or the more popular 7.5km Family Fun run.
Now in its 16th year, the Econet Victoria Falls Marathon has cemented its reputation as a top African running event.
The race’s renowned scenic route takes runners on an unforgettable journey through the breathtaking landscapes and wildlife surrounding the iconic Victoria Falls, allowing participants to enjoy its grandeur up-close.
Mboweni said the Econet Vic Falls Marathon was now more than just a race, but a catalyst for local and international tourism.
“There is no doubt the event has become a catalyst for tourism in our nation and a tool for positive change in our local communities.”
He said as visitors flock to Vic Falls from around the world, tourism flourishes “benefiting local businesses, hotels and lodges, and the entire travel and tourism industry.”

ECONET Wireless Zimbabwe, the country’s largest telecommunications and technology company, says its decision to make remittances from United Kingdom and South Africa free has been well received and should remain in force “for the foreseeable future”.
Econet’s group chief executive officer, Dr Douglas Mboweni, said the initiative would remain in place for some time, adding that the company was in fact exploring ways of expanding the free remittance initiative to other routes, such as the United States, Europe and Middle East.
“The initiative will continue for the foreseeable future. We are now actually working on expanding the free remittances to Zimbabwe to other source markets, such as the US, Europe and Middle East, so that Zimbabweans with friends and family in those regions can also benefit from our offer,” Dr Mboweni said.
“However, our group currently does not have licenses that allow us to extend the service to all markets at this time. But we are busy looking at how we can do that,” he said.
Last week Econet achieved an ‘Africa first’ by opening free remittance corridors that completely eliminate the cost for remittances from the UK and South Africa into Zimbabwe.
This followed the company partnering with its sister company, Sasai Money Transfer, to enable individuals and companies in the United Kingdom and South Africa to send money into Zimbabwe free of charge, with the receiver cashing out of their EcoCash US dollar wallet for free.
Dr Mboweni said the market reaction to the initiative had been very positive, adding that he expected many people to start channelling remittances via Ecocash.
He said there were virtually no minimum limits to how little one can send at any given time. “If someone from the UK wants to send $5 to someone in Zimbabwe, it’s ok with us. We can handle small or large amounts and it’s done in an instant.”
“We believe EcoCash’s extensive network, already in use for domestic USD transfers around the country, and in particular in the rural areas, will be key in providing convenience to people in remote villages and districts to access their funds,” Dr Mboweni said.
Last week Dr Mboweni explained that the decision to offer free remittances had been motivated by the desire to help Zimbabweans weather the challenges caused by drought.
The country recently declared a national disaster over a drought caused by the climate event known as El Niño, which has left more than 2.7 million people in need of food aid.
Some analysts and experts have urged the Government to take advantage of the intermediation role of Ecocash to allow ZiG cash-in and cash-out, thereby building confidence in the new currency.

THOUSANDS of music lovers and athletes turned up for the Victoria Falls Econet Marathon musical after-party concert held at Baobab Primary School grounds on Sunday evening.
Dubbed the “Buddie Beatz Victory Show”, the after-party took place on Sunday evening and lasted until after 3am when Winky D, the final act, left the stage.
Admission was free. The mood was set at midday as Zumba dance coaches led runners and fans in various dance moves. When Winky D announced he was playing his last song around 3am, there were no incidents of revolt from the seemingly satisfied crowd, who began to leave after an almost all-night dance.
Sunday was unusually cold, with morning temperatures dropping to 11 degrees Celsius. Although the day was warm, temperatures dropped again after midnight, but the music lovers were undeterred as they packed the school grounds.

The lack of entertainment in Victoria Falls was evident as locals turned up in large numbers to join the runners who had taken part in the 42,2km; 21,1km and fun run races earlier. The event had 5 190 registered athletes.
The line-up included locals Ray “Maffia King” Karipache, Tawanda Cephas Junior Matema (DJ CJ) and Daniel “Danman Croc” Ngwenya. The show started just after 6pm with DJs playing music. Nutty O, Feli Nandi and Tocky Vibes then took to the stage followed by Jah Prayzah just before midnight. He played a mix of his old and new songs.

Commenting on the event, one reveller identified as Mercy said she enjoyed every bit.
“It’s a rare moment to have Jah Prayzah and Winky D sharing the stage. We enjoyed and wish such events could happen again.”
After the show, hundreds of locals could be seen trekking home, with taxi operators running several trips to the high-density suburbs and various hotels.
Organisers of the marathon, Econet Zimbabwe thanked people for supporting the event and vowed to continue rolling out various corporate social responsibility initiatives across different sectors.

The report, which was released last week, showed that Econet did better than its peers in the key performance categories of mobile internet and data usage, as well as in mobile voice usage.
The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz)’s sector performance report for the 3rd quarter of 2023 has revealed that Econet Wireless Zimbabwe extended its market leadership in the local mobile telecommunications sector dominated by three main players: Econet, NetOne and Telecel.
The report, which was released last week, showed that Econet did better than its peers in the key performance categories of mobile internet and data usage, as well as in mobile voice usage.
It revealed that Econet increased its mobile internet and data market share by 6.3%, from 72.0% in Q2 to 78.3% in Q3. This followed a 15.5% surge in the company’s mobile internet and data traffic to 34 985 422 241 Megabytes (MB) in the third quarter, up from 30 299 361 678 MB in the previous quarter.
“NetOne recorded a decline in internet and data traffic by a margin of 18.9%. Despite the decline by NetOne, total Internet and Data traffic for mobile network operators increased significantly by 6.2%, owing to a 15.5% growth in traffic by Econet. Telecel also experienced a huge jump in Internet traffic,” read the report.
Potraz said overall mobile internet and data traffic increased by 6.2% to record 44,67 Petabytes in the third quarter, from 42,06 Petabytes recorded in the second quarter of 2023. (A Petabyte is about 1 million Megabytes).
In the mobile voice traffic category, Econet increased its market share by 4.3% in the 3rd quarter to 82.9%, while NetOne lost market share by the same margin, to exit the 3rd quarter at 16.9%. Telecel maintained its voice traffic market share at 0.2%.
Potraz noted that mobile voice traffic grew significantly, by 30.0%, to record 3.29 billion minutes in the 3rd quarter, up from 2.53 billion minutes recorded in the second quarter of 2023.
“The sector realised growth in mobile voice traffic in the third quarter of 2023. This may be attributed to an eroded voice tariff which fluctuated around USD 0.01 (One USD cent) for on-net calls throughout the quarter,” said Potraz.
“On-net bundles and promotions by operators also played a big role in the significant growth in traffic, which resulted in a 37.5% surge in net-on-net traffic, which is without doubt the major traffic growth driver in the quarter under review.”
The regulator added that the total number of active mobile telephone subscriptions grew by a margin of 6.0% to reach 14 794 579 as of 30 September 2023, up from 13 955 937 recorded in the second quarter.
“As a result, the mobile penetration rate hiked to 97.5% from 91.9% recorded in the second quarter of the year,” said Potraz.
In the period under review, Econet saw its subscribers rise to 10 319 991, from 10 094 328 in the second quarter (a 2.6% drop in customer market share), while NetOne subscriber numbers went up from 3 554 075 in the previous quarter to 4 171 224 in the 3rd quarter (a 2.7% increase).
Telecel was, however, the only mobile network operator to register negative growth in subscribers, with the company’s subscriber numbers falling by 1.4% to 303 364 in the third quarter.
Meanwhile, mobile network operators generated $850.8 billion in the third quarter of 2023, up from $435.7 billion recorded in the previous quarter. This translates to a 95.3% revenue growth in the quarter under review.
On the other hand, mobile network operators incurred $430 billion in costs, up from $215.8 billion incurred in the previous quarter, translating to a 99.3% increase in total operating costs.
The telecommunications regulator noted that total capital expenditure by mobile network operators grew by 27.1%, from $26.7 billion in Q2 to $33.9 billion in the 3rd quarter.
“However, in real terms, revenues, operating costs and capital expenditure did not increase by the same margins due to the inflationary operating environment which has not spared any sector of the economy. This continues to stifle investment in infrastructure as evidenced by a decline in new terrestrial deployments in the quarter under review,” added the regulator.

Econet Wireless Zimbabwe, the country’s largest telecommunications and technology company, says it would be expanding its 5G network and utilising artificial intelligence (AI) and automation to enhance customer service and operational efficiency, Business Times can report.
James Myers, the chairman of the Econet board, disclosed this, stating that expanding on the 5G network creates new prospects for the business.
“We are looking to scale up our 5G penetration to unlock new opportunities, leverage artificial intelligence and process automation to improve operational efficiencies and customer service delivery,” Myers said.
He said AI has become an integral part of their business operations.
According to Myers, Econet increased its usage of AI in 2023 to boost productivity, improve operational efficiency, optimise their business and deliver better customer experiences.
He said the company pledges to continue investing in the infrastructure for them to meet their customer needs and keep up with global trends.
“The business continues to experience sustained growth in the demand for its products and services shaped by evolving customer needs. We will continue to invest in our network infrastructure in order to meet customer demands and keep abreast with global trends in line with our vision of a digitally connected future that leaves no Zimbabwean behind,” Myers said.
In its financial results for the 12 months to February 29, 2024, Econet more than doubled its revenue to ZW$14.8 trillion from ZW$6.3 trillion achieved in the previous year.
Investment in network modernization resulted in volume growth of voice and data of 34% and 36% respectively.
However, Econet’s loss widened to ZW$1.1 trillion for the period under review from ZW$317bn reported in 2023.
Myers said the depreciation of the local currency during 2023 affected the group’s financial performance.
Exchange losses for the period under review were ZW$ 3.2 trillion translating to 22% of revenue against 23% for the prior year.
He said the group is looking forward to benefiting from Zimbabwe Gold (ZiG) since the hyperinflation of ZW$ affected the financial statements.
Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) grew by 175% to ZW$7.1 trillion for the period under review from ZW$2.6bn recorded prior comparative period.

Econet Wireless Zimbabwe says it remains committed to completing current network modernisation initiatives, which will transform network performance, expand coverage, and increase capacity to support changing customer demands for data-intensive applications.
In a trading update for the quarter to November 30, 2023, the company said it will leverage new technologies to enhance the potential for better financial performance through improved customer experience and lower costs.
“The company’s strategic focus on fostering solutions centred around the customer, prioritising security, engaging with regulatory bodies, and investing in infrastructure sets it in a strong position amid the challenges present in the current economic landscape,” reads the statement.
The company said after the successful settlement of debentures in September 2023, the exchange loss exposure was significantly reduced, and this should improve the business performance going forward.
The company successfully closed the renounceable rights offer of new ordinary shares in the capital of the company to raise US$30,3 million, and proceeds from the rights offer were applied to redeem debentures issued by the company, which matured at the end of April 2023.
“Ordinary shares amounting to 401 586 371 were issued and commenced trading on the Zimbabwe Stock Exchange on October 9, 2023,” the company said.
For the quarter under review, revenue increased by 177 percent from $0,8 trillion relative to the same period last year.
The company said growth in voice and data traffic of 28 percent and 26 percent, respectively, was largely anchored on network modernisation.
However, for the period under review, exchange losses were 20 percent of revenue against a prior period comparative of 26 percent, and they continue to weigh down the financial performance of the business.
According to a report by POTRAZ, the growth in market share for both voice and data services points to the company’s success in delivering value to its customers.
It said the increased consumption and usage patterns show that ongoing investment in network infrastructure is imperative.
“Econet voice market share increased slightly, and data market share decreased marginally. Other key metrics, such as base station and 4G base station market share, continue to improve,” reads the statement.
Econet added that the continued increase in data traffic reflects changing consumer behaviour and evolving usage patterns towards data-intensive applications such as video streaming, social media engagement, and online gaming, which require commensurate capital expenditure to continue to provide quality service.
“This will require a supportive tariff regime given the inflation trends. In order to sustain the quality of services amidst higher usage rates, there’s a need for tariffs that support the business, especially as inflation impacts capital spending,” the group company said.
It indicated that implementing cutting-edge network technology, optimizing spectrum utilisation, and increasing network density is necessary to manage growing data traffic and maintain a resilient network.

The businesses being transferred to EWZL under the scheme of reconstruction are expected to leverage the mobile network operator’s customer base
The scheme of reconstruction between Econet and EcoCash Holdings is taking shape following approval by shareholders and is now awaiting regulatory approvals.
At an extraordinary general meeting held on April 17, 2024, 85,92 percent voted in favour of the resolution, while 14,08 abstained.
The scheme of arrangement entails transferring to Econet the financial technology businesses, namely EcoCash (Private) Limited, VAYA Technologies Zimbabwe (Private) Limited, Econet Insurance (Private) Limited, Econet Life (Private) Limited, MARS Zimbabwe (Private) Limited and Maisha Health Fund (Private) Limited, in exchange for the total consideration of ZW509 billion (equivalent to 521,861,057 Econet Shares), payable partly in cash and partly in Econet Treasury Shares.
“Subject to regulatory approval, the directors are authorised to carry out a scheme of reconstruction between Econet and EcoCash Holdings by transferring to Econet the financial technology businesses…
“The number of Econet Treasury shares shall be determined using the 30-day volume-weighted average price of Econet for the period to January 16, 2024, being the last practicable date immediately before the transaction was announced to the public.
“The amount of the cash component of the total consideration shall be determined using the 30-day volume-weighted average price of each Econet share for the period to the date of payment,” reads the Ecocash Holdings announcement.
As of the date of the EGM, the total number of shares issued by the company was 4,194,797,929, of which 4,501,610 shares were held by Ecocash Holdings, 714,327,691 shares were held by Econet Wireless Zimbabwe Limited (“Econet”) and 1,362,170,095 shares were held by Econet Global Limited.
The shares held by Ecocash Holdings, Econet, and Econet Global Limited amounting to 2,080,999,396 were precluded from voting, accordingly, the total number of eligible shares entitling the holders to attend and vote on the resolutions proposed at the EGM was 2,113,798,533.
In earlier separate cautionary statements, the companies have said the envisaged scheme of reconstruction will not result in the delisting of both EcoCash and Econet from the Zimbabwe Stock Exchange (ZSE).
One of the most direct ways in which the transfer of assets can affect share prices is through its impact on the financial performance of the companies involved.
The transfer of underperforming assets from one company to another also has the potential to improve that particular company’s financial position, which includes revenue growth, profit margins and return on investment, thus attracting more investors, which results in an upward pressure on share prices.
On the other hand, if not done strategically, asset transfers can erode investor confidence and lead to a decline in share prices.
Morgan and Co in its market intelligence report on the transaction earlier in the year, said what remains unclear is what constitutes a banking asset, and this warrants a scenario analysis that covers the possible outcomes of this transaction.
“Our rationale finds context in Econet’s transaction that unbundled Ecocash in 2018. At the time, Ecocash was listed as a standalone entity with the potential to grow into Zimbabwe’s first listed fintech business.
“However, structural and fundamental changes such as (1) the ban on merchant lines, stringent regulation, dollarisation, and (iv) stiff competition in mobile USD transactions are a crunch in ZWL and have wilted the business’s future prospects.
“We opine that these developments have warranted this transaction, and this is not the first time that transactions have been reversed in Zimbabwe,” said Morgan & Co.
It was noted that, as far as this transaction is concerned, Econet investors are the losers regardless of how it defines a banking asset.
The firm said in the first scenario that it defines digital banking operations (Steward Bank) as Ecocash’s only banking asset and assumes that the transaction refers to assets in the mobile money and insurtech segments.
“As such, these non-banking assets encompass Ecocash, Econet Life, Econet Insurance, Vaya Technologies, Maisha Health Fund, and Mars.
“A look at the performance of these non-banking assets reveals losses from FY23 to date,” reads the report.
It added that both the mobile money and insurtech segments recorded inflation-adjusted losses in FY23 and FY24.
“Only the banking segment was profitable in both periods, as a result, moving these, no banking assets will have the effect of lowering earnings in Econet.”
Morgan & Co noted that it looks like the impact will be material considering that the combined losses of these non-banking assets in 1H24 account for 32 percent of Econet’s net earnings over the same period.
“However, if we incorporate that post-rights offer, Ecocash’s bottom line will circumvent exchange losses equating to 77 percent of revenues compared to Econet’s exchange losses equal to 34 percent of revenues, and since these exchange losses are not split by segment in Ecocash’s latest results, it becomes unclear whether the impact is as damning to Econet shareholders as initially suggested.
“We also opine that Econet is still undervalued at the current price, and exchanging these unprofitable non-banking assets for an undervalued stock benefits Ecocash shareholders more than Econet shareholders,” said Morgan & Co.
In the second scenario, it is said that banking assets incorporate both mobile money and digital banking assets, in which case the damage to the value of Econet shareholders will be relatively minimal when compared to the first scenario.
Morgan & Co said the impact of the transaction on these companies’ valuations favours EcoCash, and after the transaction, EcoCash will have exchanged loss-making assets in exchange for an undervalued asset.
“Although we need more information to ascertain the magnitude of the changes and how they impact the valuations of both entities, we remain confident that Econet continues to hold potential exceeding 20 percent in USD.”
In the worst-case scenario, Morgan & Co estimates that Econet FY24 earnings per share in USD will decrease by 13 percent and the upside potential in Econet will soften from 80 percent to 60 percent.
Ecocash, on the other hand, could experience an increase in its potential upside that will be as high as 35 percent in real dollars, mostly on the back of a disposal of loss-making operations and a holding in an undervalued stock.
However, Ecocash Holdings revenue for the quarter to November 30, 2023, increased 83 percent to $182,9 billion in inflation-adjusted terms, compared to $99,8 billion in FY23.
During the same period, Econet Wireless revenue increased by 177 percent from $0,8 trillion relative to the same period last year, anchored by growth in voice and data traffic of 28 percent and 26 percent, respectively, due to network modernisation.
However, exchange losses continued to weigh down the financial performance of the business, as the losses were 20 percent of revenue against a comparative 26 percent.
The company, however, noted that after the successful settlement of debentures in September 2023, the exchange loss exposure was significantly reduced and this should improve the business performance going forward.

In a trading update for the third quarter ended November 30, 2023, the Zimbabwe Stock Exchange-listed giant urged the authorities to come up with regulations that benefit consumer and businesses.
ECONET Wireless Zimbabwe has called for balanced regulation in the telecommunications sector, given the rising operational costs driven by inflation and the shift to using the greenback.
In a trading update for the third quarter ended November 30, 2023, the Zimbabwe Stock Exchange-listed giant urged the authorities to come up with regulations that benefit the consumers and businesses.
“Due to the high inflationary pressures, the business is calling for balanced regulation, an important step given the rising operational costs driven by inflation and the shift to using the US dollar,” the firm said.
“It is essential to find a middle ground where tariffs remain practical for the business without becoming unaffordable for consumers.” The annual inflation rate stood at 26,5% in December last year.
Econet said regional benchmarks reflected that local telecommunication tariffs remained much lower. The low tariff comes despite Zimbabwe’s telecoms firms experiencing higher costs and foreign currency challenges.
According to a report by the Postal and Telecommunications Regulatory Authority of Zimbabwe, the growth in market share for voice and data services points to Econet’s success in delivering value to its customers.
“The increased consumption and usage patterns show that ongoing investment in network infrastructure is imperative. Econet voice market share increased slightly and data market share decreased marginally. Other key metrics such as base station and 4G base station market share continue to improve,” it said.
The firm said the continued increase in data traffic reflected the changing consumer behaviour and the evolving usage patterns towards data intensive applications such as video streaming, social media engagement and online gaming which required commensurate capital expenditure in order to continue to provide quality service.
“This will require a supportive tariff regime given the inflation trends.“In order to sustain the quality of services amid higher usage rates, there’s a need for tariffs that support the business, especially as inflation impacts capital spending,” it said.“Implementing cutting-edge network technology, optimising spectrum utilisation and increasing network density is necessary to manage growing data traffic and maintain a resilient network.”
The company said it had been actively developing its network capabilities and securing its services in response to the digital economy’s expansion and the growing need for mobile services.
This has allowed the business to continue thriving despite facing external pressures.“To mitigate the negative impact of power outages, the business continues to invest in solar solutions. To counter the impact of vandalism and theft, the business has invested in enhanced security systems which have become even more critical in the current socio-economic environment.”
Inflation-adjusted revenue for the period under review increased by 177% from ZWL$0,8 trillion relative to the same period last year.The growth in voice and data traffic of 28% and 26%, respectively was largely anchored on network modernisation.
Exchange losses continued to weigh down the financial performance of the business. For the period under review, exchange losses were 20% of revenue against a prior period comparative of 26%.
The company said after the successful settlement of debentures in September 2023, the exchange losses exposure was significantly reduced and this should improve the business performance going forward.

THE value of Econet Wireless Zimbabwe shares nearly doubled in four days of trading on the Zimbabwe Stock Exchange as investors appear to warm up to a cautionary statement released last Tuesday, announcing a planned merger of EcoCash Holdings Zimbabwe’s non-banking units with the mobile network operator.
After the announcement on Tuesday, the Econet stock price witnessed a 65.7% jump from 122980 cents to conclude the week at 203900 cents (ZWL2,039) at the close of trading yesterday (Monday).
At the same time, EcoCash Holdings Zimbabwe’s stock experienced a notable increase in share price of 23.6%, rising from 20568 cents to 25425 cents at the close of trading yesterday.
Figures from the ZSE show that Econet stock initially rose 14% last Wednesday, reaching 136931 cents before rising further to 154766 cents on Thursday. The positive momentum continued as the company’s stock price witnessed an additional 12.53% increase, ultimately closing the week at an impressive 177347 cents before it rose to 203900 cents in early week trading yesterday.
Market analysts said while there were widespread gains across a number of counters on the bourse last week, the sharp rise in Econet’s share price was indicative of the market’s confidence in the impending merger. They said the trend pointed to potential sustained growth in the post-merger landscape, as investors exhibit a robust belief in the combined entity’s prospects.
“As the entities merge, a robust and resilient balance sheet is poised to emerge, comprised of well-diversified entities with the capacity to underwrite more business, ultimately creating substantial value and benefits for shareholders,” said George Nhepera, a Bulawayo-based financial market analyst.
“In the broader context, it is essential to note that the combined market capitalization of the two entities on the Zimbabwe Stock Exchange is likely to position the new entity as one of the largest conglomerates in the country. This development bodes well for the capital markets, instilling confidence among both local and international investors,” he added.
Jonathan Makombe, a South Africa-based equity analyst said the proposed Econet/EcoCash Holdings merger was a smart move that could redefine the landscape of both the telecommunications and digital finance sectors.
“The market’s positive response is a clear indication of investor confidence in the potential growth and innovation that may result from this union,” he said.
The decision by the two technology powerhouses to merge comes at a strategic juncture, as the global business landscape is rapidly evolving. By combining forces, Econet and EcoCash Holdings aim to position themselves at the forefront of innovation, creating a formidable entity capable of navigating the dynamic challenges of the modern business environment.
“The market’s enthusiastic reception is well-founded. This merger has the potential to benefit shareholders and provide a more integrated and seamless experience for consumers,” remarked David Ngoma, an analyst at a leading investment firm.
Investors and industry experts alike are closely watching the development, anticipating the creation of a formidable entity capable of navigating the dynamic challenges of the local business environment.
“Business models must respond to the times, and this is what Econet is doing,” said economic analyst Tinashe Murapata.
“Perhaps (this is) what we all need to be doing in light of tax, currency, macroeconomic conditions, and regulatory challenges that inspire consolidation rather than specialisation,” he added.
Jane Sibanda, a financial strategist, highlighted that the merger presents a unique opportunity for Econet and EcoCash to leverage their strengths, creating a more resilient and competitive player in the market.
“This move aligns with the broader trend of consolidation we have observed across industries,” she said.