2. ECONET
Econet Wireless, Zimbabwe’s largest telecommunications company, is the second largest company on the local bourse with a market value of $1.05 billion, representing 12.99 percent of the ZSE total market capitalisation.
Including, class A shares owned by its founder, Strive Masiyiwa, the company is valued at $1.4 billion.
In a year to date, Econet has gained 120 percent to 66 cents.
The company reported a 10 percent fall in annual profit to $36.2 million, citing a decline in consumer spending.
However, the company continues to leverage on data, as voice at SMS revenues take a dip.
The telecoms giant in January this year went into the market to raise $130 million from its shareholders to settle outstanding foreign loans as Zimbabwe struggled with a crippling dollar shortage and delays in foreign currency payments.
Total assets stood at $1.22 billion as at February from $1.2 billion previously.
During the previous full year to February, the company lowered its capital expenditure by 60 percent to $32.5 million compared to $82.8 million in the previous year.
It also declared a dividend of 0.467 cents per share amounting to $12.1 million for the year.
Continued next page
(577 VIEWS)
