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Charity Ruzvidzo Business Reporter
TELECOMMS operator Econet Wireless Zimbabwe has invested $1,2 billion in different projects in the country since 2009 with its subscriber base clocking nine million in 2014, an official said yesterday.

Econet chief executive officer Douglas Mboweni told Business Chronicle in Bulawayo on the sidelines of an “Ebola Call to Action” business breakfast that the investment was part of his company’s commitment to providing quality network coverage to all parts of the country.

“Econet Wireless has invested over $1,2 billion in its various projects in the telecommunication business since 2009. We’ve a subscriber base of over nine million and we want that number to increase. Our goal is to have the whole country getting services from Econet,” he said.

Mboweni said Econet’s tariffs’ were “viable” while acknowledging complaints by consumers that its charges were high compared to regional tariff levels.

“Good services or products are not cheap. Econet tariffs are viable, they ensure that our business doesn’t collapse. At times for us to reach our sites in the rural areas we’ve to create access roads. Some of these costs are incurred in our tariffs,” said Mboweni.

He said Econet was working in partnership with other captains of industry in the fight against the deadly Ebola outbreak, which has claimed nearly 5,000 lives in West Africa, according to the World Health Organisation.

“We’re fully committed to assisting the government in preparing for the highly unlikely Ebola outbreak. If we work together as a nation I’m sure we can prevent the spread of the disease to Zimbabwe,” he said.

Econet’s latest financial results for the half year ending August 2014 released last month indicate improved performance spurred by the growing network overlay services.

With revenue for the period up by 4,2 percent to $392,3 million, the company has been posting a strong performance despite the prevailing tough economic environment that has been cited as one of the reasons for a decline in earnings before interest, which dropped by 8,3 percent to $155 million.

The mobile operator has rolled out an aggressive diversification strategy that has resulted in the introduction of varied services that include car tracking, advertising and products that enhance the earning potential of the mobile money service EcoCash.

The company has opened a financial institution, Steward Bank and is also rolling out a fibre optic connection project through its Liquid Telecoms division in addition to producing cell-phones and solar powered gadgets.