Econet pays $4.3bn in taxes as revenue climbs
Econet Wireless Zimbabwe contributed over $4.3 billion in various taxes to government coffers during its first half, representing more than 31 percent of total revenues, according to company financial statements. The telecommunications provider received recognition from the Zimbabwe Revenue Authority for compliance excellence while posting inflation-adjusted revenues of $13.5 billion and profits reaching $2.9 billion.
Chairman James Myers attributed strong results to sustained infrastructure investment that doubled data traffic and increased voice usage by 34 percent. Mobile operations generated 82 percent of revenues while EcoCash transaction volumes climbed 35 percent. The company deployed 53 base stations and added 100 fifth-generation network sites while maintaining earnings margins above 45 percent through cost optimization measures.
