News

Given the fast deteriorating economic environment, the Econet management took in February 2000 perhaps its most significant strategic decision: to reduce the exposure to Zimbabwe by developing other markets in Africa and beyond. The vision of the company, which had been “To provide telecommunications to all the peoples of Zimbabwe” (IPO prospectus August, 1998), was now reformulated “To provide telecommunications to all the peoples of Africa.”

(401 VIEWS)

The United States’ bid to isolate Zimbabwe hit a roadblock in 2007 when it tried to block the country from becoming Vice-President of the World Food Programme in 2007 but was thwarted by Latin American countries.

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Econet was quick to launch its prepaid cellular service. The combination of this innovative product and the goodwill it had accumulated with the people of Zimbabwe over the five years of court battles for the license would take it to a position of market leadership in just three months, even though PTC’s cellular service (Net One) had been launched nearly two years earlier in September 1996.

(68 VIEWS)

The United States has allocated Zimbabwe a 2 131 tonne sugar quota for the current year, though Zimbabwe is still under US sanctions which were renewed for another year in March this year.

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The dates for the High Court hearing of Econet’s appeal were set for September 18 and 19, 1997. After the hearing, Justice Sandura’s assistant informed the press that because of the huge amount of documents that needed to be studied, a decision would be made only by the end of the year.

(35 VIEWS)