HARARE – Econet Infrastructure Company Limited (InfraCo), Zimbabwe’s largest private infrastructure group comprising Towers, Power and Real Estate, has reported a strong maiden half year as a listed entity, posting revenue of US$70.1 million and profit of US$13.7 million for the six months to 31 August 2026.
The results, are the first since the company’s listing by introduction on the Victoria Falls Stock Exchange (VFEX) on 31 March 2026 following a Scheme of Reconstruction where Econet Wireless Zimbabwe transferred its land, buildings, tower sites and energy systems to InfraCo. Econet now holds 70% of InfraCo’s 2.99 billion issued shares.
The Company delivered an EBITDA of US$29.0 million at a margin of 41.4%, reflecting its infrastructure-led model. Gross profit was US$36.2 million after cost of sales of US$33.9 million. Profit before tax was US$18.5 million after depreciation and amortisation of US$7.9 million and net finance costs of US$2.6 million. Basic and diluted EPS was 0.46 US cents.
Revenue comprised Power services of US$39.3 million (IFRS 15) and Tower services and PropertyCo site and space rentals of US$30.8 million (IFRS 16 operating leases). The current period has no comparatives due to the adoption of USD as functional currency from 1 March 2026 and the reconstruction.
Total assets stood at US$255.2 million, including property, plant and equipment (including right-of-use assets) of US$209.6 million and investment properties of US$15.8 million. Equity closed at US$161.5 million.
Net cash generated from operations was US$13.5 million, with US$6.5 million invested in property, plant and equipment. Cash and cash equivalents were US$2.6 million at period end.
No interim dividend was declared as the Board prioritises reinvestment into tower expansion, renewable energy and property pipeline.
The company said the period was marked by geopolitical tensions in the Middle East that drove diesel price volatility, pressuring operating costs for its tower portfolio. Despite this, fuel supply chains remained stable.
In response, PowerCo accelerated solarisation and deployed AI-enabled fuel management, achieving a 30% reduction in fuel consumption through solarisation, advanced battery cycling and improved grid availability. Construction of Phase One of a planned 100MW solar farm at Tech City commenced during the period, with initial generation expected in Q4 2026.
Through TowerCo, InfraCo deployed new base station sites driven by demand from anchor customer Econet. The property arm advanced planning for flagship projects Tech City and Victoria Falls Lifestyle Villas, with groundbreaking expected in Q4 2026.
On AI enablement, the company expanded use of AI in predictive generator maintenance, fuel optimisation and reliability management, including rollout of AI Fuel Manager, Remote Monitoring System and Digital Twin initiatives to improve uptime and visibility.
The company said priorities remain expanding tower footprint, accelerating solarisation, and commencing development at Tech City and Victoria Falls. The Company has US$22.4 million in capital expenditure commitments, to be funded from operations and additional funding as required.
