Zimbabwe: Econet Wireless Calls On Suppliers To Slash Prices Amid Covid-19
Econet Wireless, Zimbabwe’s largest mobile operator, has called on its suppliers to consider cutting prices by a minimum of 20% from May 1 due to the tough economic environment that has been brought about by the coronavirus pandemic.
The telco’s CEO, Douglas Mboweni, said that the harsh economic environment as well as the compounded effect of COVID-19 pandemic had necessitated an urgent review of Econet’s business operations.
He added that because of the health crisis, Econet had to take drastic measures to safeguard the business and remain viable that it is able to continue offering services to its customers and retain its suppliers.
Besides Econet Wireless, Zimbabwe has two other mobile operators that are both state-owned. Zimbabwe’s economy is going through its worst economic recession in over a decade, characterised by high unemployment, food shortages and a shortage of foreign currency.
This week, Strive Masiyiwa, Econet’s founder, rolled out an appeal for help for Sudan and Zimbabwe to curb the spread of coronavirus, after sanctions that were imposed on the
He called for the International Monetary Fund (IMF), the World Bank and other multilateral organisations to create a humanitarian trust for each country, to be managed by third parties.
Credit: This article originated from www.businesslive.co.za