Econet’s ability to retool curtailed: Researchers

THE depreciation of the local currency will continue to have a substantial impact on Econet Wireless Zimbabwe’s ability to invest in new equipment given that the company imports hardware and software for operational needs, according to researchers at Inter Horizon Securities (IH).

In February, the Zimdollar fell by 10% to the greenback on the official auction market, while the depreciation was slightly sharper on the parallel market at 10,68%.

As a result, the parallel rate premium grew by 0,8 percentage points.

This story is for NewsDay subscribers.