Mobile network industry contribution to economy continues to grow

ZIMBABWE’S mobile network industry has grown to become a significant sector of the economy, generating close to $200 million in quarterly revenues and sizable profits for the three network operators. However, the two Government-owned players, Telecel Zimbabwe and NetOne are battling against listed Econet Wireless which accounts for close to 50 percent of the 12,7 million active subscribers as of March 2017. The new turf has been around data and other additional products such as mobile money and other initiatives.

INDUSTRIALS

The Industrial Index gained a further 0.84 points (0,42 percent) to settle at 202.06 points. Econet advanced by an additional $0,0108 to close at $0,3918, Simbisa was up by $0,0070 to end at $0,2250 while SeedCo put on $0,0069 to $1,3825. Afdis closed at $0,6000 after a $0,0050 increase.

There were no trades in the negative while heavyweights Delta, Innscor and Old Mutual traded unchanged at $1,2725, $0,7275 and $3,9300 respectively.

Week on week Industrial index went up by 2.02 points (1,01 percent).

MININGS The Mining index was steady at 65.45 points. Bindura, Falgold, Hwange and RioZim remained unchanged at previous trading levels at $0,0245, $0,0100, $0,0250 and $0,5500 respectively.

Week on week Mining index came off 3.55 points (5,14 percent).