Econet loses market share

Zimbabwe's leading mobile network provider Econet Wireless (Econet whose revenues and profits significantly dropped last year lost 33% subscriber market share to its main competitor NetOne last year as the state owned operator's US$219 million Chinese funded expansion project bears fruit an official report shows.

NetOne got a US$218.9 million loan from China Exim Bank to fund its expansion project.

Potraz report for the fourth quarter of 2015 shows the country's smallest mobile network operator Telecel also lost subscriber market share to NetOne during the year.