ECO - Econet Wireless Zimbabwe Limited

Mar 27, 2023 at 22:33 Twitter · Facebook

ECO share price on Zimbabwe Stock Exchange

Econet Wireless Zimbabwe, launched in July 1998, is Zimbabwe’s largest telecommunications services provider, providing solutions in mobile and fixed wireless telephony, public payphones, internet access and payment solutions. In 2009, the company became the first operator in Zimbabwe to launch data services under 3G technology. At the same time, it began building an extensive fiber optic network, and also commenced an accelerated roll-out of other key network infrastructure. Key subsidiaries and associates of Econet are Liquid Telecom, the largest internet service and access provider in Zimbabwe, and Transaction Payment Solutions, a leading provider of financial transaction switching, point-of-sale, and value-added support services. The company is a subsidiary of a privately-owned group controlled by its founder Strive Masiyiwa. The group’s subsidiaries include Econet Wireless International, Econet Enterprises, and Econet Media.

Econet Wireless Zimbabwe Limited is listed on the Zimbabwe Stock Exchange (ZSE) since September 17th, 1998. Econet Wireless is traded on the ZSE under the ticker symbol “ECO”. Econet Wireless Zimbabwe Limited is currently the second most valuable stock on the ZSE with a market capitalization of ZWL 687 billion, which makes about 18.9% of the entire Zimbabwe Stock Exchange equity market.

ECO Stock Market Performance

The current share price of Econet Wireless Zimbabwe Limited (ECO) is ZWL 264.8706. ECO closed its last trading day (Monday, March 27, 2023) at 264.8706 ZWL per share on the Zimbabwe Stock Exchange (ZSE), recording a 1.3% drop from its previous closing price of 268.3712 ZWL. Econet Wireless began the year with a share price of 96.2759 ZWL and has since gained 175% on that price valuation, ranking it 10th on the ZSE in terms of year-to-date performance. Shareholders can be optimistic about ECO knowing the stock has accrued an outstanding 55% over the past four-week period alone—fourth best on ZSE.

Econet Wireless Zimbabwe is the fourth most traded stock on the Zimbabwe Stock Exchange over the past three months (Dec 23, 2022 - Mar 27, 2023). ECO has traded a total volume of 57.2 million shares valued at ZWL 9.3 billion over the period, with an average of 907,263 traded shares per session. A volume high of 8.23 million was achieved on February 17th, and a low of 7,400 on December 28th, for the same period. The table below details the last 10 trading days of activity of Econet Wireless Zimbabwe on the Zimbabwe Stock Exchange.

Profile of Econet Wireless Zimbabwe Limited

Econet Wireless Zimbabwe Limited operates in the Telecommunications sector. The company is led by Douglas Mboweni as its Chief Executive Officer. The company's board of directors, chaired by Dr. James Myers, is composed of 12 members whose names are listed below.

1. Masiyiwa, Steve
   Group Chairman
2. Mboweni, Douglas
   Chief Executive Officer
3. Chimanikire, Roy
   Finance Director
4. Chirairo, Kris
   CEO - Econet Enterprises
5. Myers, James (Dr.)
   Non-Executive Chairman
6. Pemhiwa, Hardy
   Non-Executive Director
7. Mpofu, Tracy
   Non-Executive Director
8. Mtetwa, Beatrice
   Non-Executive Director
9. Gomwe, Godfrey
   Non-Executive Director
10. Shereni, Sherree Gladys
    Non-Executive Director
11. Edge, Martin
    Non-Executive Director
12. Bennett, Michael
    Non-Executive Director

Index of African Stock Exchanges:

1. Botswana Stock Exchange
2. BRVM Stock Exchange
3. Ghana Stock Exchange
4. Johannesburg Stock Exchange
5. Lusaka Securities Exchange
6. Malawi Stock Exchange
7. Nairobi Securities Exchange
8. Nigerian Stock Exchange
9. Uganda Securities Exchange
10. Zimbabwe Stock Exchange