Addressing business executives in Bulawayo on Friday during a forum organised by Econet Wireless Zimbabwe, Chief Executive Officer, Douglas Mboweni said companies should continue investing in their businesses and expand operations despite the prevailing economic climate that is characterised by deflation.
He also revealed that despite the prevailing economic climate, Econet is in the process of installing 4G network infrastructure. He said,
Some businesses may be discouraged to expand their operations because we’re in deflation (where we have too little money chasing many goods). Personally, I think when the environment is like this, there’re opportunities that always come with challenges. Change your mindset, look at the opportunities and tap into those opportunities. The country has gone through hyperinflation. Hyperinflation is when we have too much money chasing too little goods. And now we’re in deflation. Despite the deflation, as Econet, we’re not looking back at our environment and see it as a hindrance. Yes, it’s tougher but right now we’re rolling out 4G network infrastructure.
In the 2016 integrated annual report, Econet Wireless Zimbabwe highlighted that the group continues to invest in infrastructure to develop the network. Mboweni would not be drawn into revealing details pertaining to progress regarding his company’s investments infrastructure saying Econet was in a closed period ahead of release of an official financial report.
More: Chronicle
Back to top