Econet Wireless reports strong results for 2010

Econet Wireless Zimbabwe said full-year profits increased by 25 per cent to US$141 million for the year ended February 28, 2011.

Revenues rose faster, by 36 per cent to US$494 million as it posted a strong growth in its subscriber base. The company said it invested US$270 million in its network, in the form of vendor financed deals with Ericsson and ZTE.

Econet claimed its base grew by 55 per cent to 5.5 million.