ECO - Econet Wireless Zimbabwe Limited

Nov 25, 2022 at 14:03 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 fourth most valuable stock on the ZSE with a market capitalization of ZWL 181 billion, which makes about 8.56% of the Zimbabwe Stock Exchange equity market.

ECO Stock Market Performance

The current share price of Econet Wireless Zimbabwe Limited (ECO) is ZWL 69.7313. ECO closed its last trading day (Friday, November 25, 2022) at 69.7313 ZWL per share on the Zimbabwe Stock Exchange (ZSE), recording a 0.2% gain over its previous closing price of 69.6129 ZWL. Econet Wireless began the year with a share price of 85.00 ZWL but has since lost 18% off that price valuation, ranking it 41st on the ZSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that ECO has lost 19% of the stock’s value from October 28th to date.

Econet Wireless Zimbabwe is the second most traded stock on the Zimbabwe Stock Exchange over the past three months (Aug 31 - Nov 25, 2022). ECO has traded a total volume of 49 million shares valued at ZWL 3.98 billion over the period, with an average of 777,563 traded shares per session. A volume high of 6.01 million was achieved on October 10th, and a low of 3,800 on October 31st, 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