Econet Ranks 47th Up From 131st After Market Capitalization To USD$3,479 Billion From USD$968 Mill

Zimbabwe’s largest Telecommunications Mobile Network Operator (MNO), Econet Wireless Zimbabwe has climbed up the African ladder from 131st position to number 47 after increasing it’s market capitalization to an unprecedented Usd$3,479 billion from USD$968 million.

The African Business top 250 companies survey which is reviewed annually charted the rise of innovative, strategic and resilient African Businesses that straddle the continent investing billions of dollars into Africa-wide strategies to capture future opportunities.

In the African Business magazine, it was noted that despite the massive distortions in exchange rates, Econet, and other Zimbabwean firms, performed exceptionally well under very difficult circumstances.

Also for the Top 250 Companies rankings, local share prices are converted at the official rate on the RTGS dollar (ZWL), which still remains at about ZWL$362 to the dollar,” read part of the report.

EWZ is one of most capitalised and best managed stocks on the Zimbabwe Stock Exchange and has consistently delivered value to all its various stakeholders in the past 20 years.