Econet Wireless Zimbabwe has posted its first financial results since delisting from the Zimbabwe Stock Exchange, reporting a sharp rise in profitability as revenue crossed the US$1 billion mark, underlining the telecoms giant's resilience despite a challenging operating environment.
According to the company's supplementary US dollar financial information, revenue increased from US$894 million in 2025 to US$1.104 billion in 2026, while earnings for the year surged to US$229 million, up from US$95 million the previous year.
The results translate to a 23.5% increase in revenue and a remarkable 141% jump in profit, reflecting stronger operational performance and growing demand for digital services.
Analyst Tinashe Mukogo said the figures vindicated expectations that the business remained fundamentally strong even before it exited the stock market.
"Revenue crossed US$1 billion, as expected, and earnings (profit) were US$229 million, a very strong number."
Mukogo noted that the results also highlighted how significantly the company had been undervalued before its delisting.
"Hard to believe that only last year its market cap was, at one point, less than US$400 million, implying a forward P/E of less than 2."
Operationally, the business continued to benefit from Zimbabwe's growing digital economy.
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Data traffic volumes doubled, rising 100%, while voice traffic increased by 35%, indicating continued demand for mobile connectivity despite broader economic pressures.
The company also disclosed that US$24.3 million had been set aside to compensate shareholders who accepted the scheme of arrangement during the delisting process.
Despite becoming a privately held company, Econet said it still has more than 10,000 shareholders, underscoring the wide ownership base that remains following the transaction.
The group's balance sheet also strengthened considerably during the year.
Total assets increased from US$951 million to US$1.293 billion, while shareholders' equity rose from US$529 million to US$749 million, reflecting stronger retained earnings and improved financial capacity.
Earnings before interest, tax, depreciation and amortisation climbed to US$459 million from US$385 million, highlighting robust cash generation from core operations.
The performance comes as Zimbabwe's telecommunications sector continues to benefit from rapid digitalisation, rising smartphone adoption and growing demand for mobile broadband, fintech and digital payment services.
Data services are expected to remain the primary growth driver for mobile network operators as consumers increasingly shift from traditional voice communication to internet-based applications, streaming and digital financial services.
The results suggest Econet enters its first full year as a private company from a position of financial strength, supported by rising revenues, expanding profitability and continued growth in digital service consumption.
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