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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse'><tr><td width=638 valign=top style='width:478.8pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal><o:p> </o:p></p></td></tr><tr><td width=638 valign=top style='width:478.8pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:120%'><a name="_Hlk95685055"><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>On A Date with On a Date with Econet Zimbabwe Limited <o:p></o:p></span></b></a></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>+14 million customers are on my platform which enables them to connect and sustain relationships across distances.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Welcome to On a Date with a listed company on the Zimbabwe Stock Exchange (ZSE)<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>THREAD: On a Date with Econet Wireless Zimbabwe Limited (EWZL).<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=602 height=338 style='width:6.275in;height:3.525in' id="Picture_x0020_13" src="cid:image001.jpg@01D92D36.67F629D0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#1. History<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1961, A couple in Zimbabwe are blessed with a son. They wish to instill in him an ambitious personality, he is named Strive.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1968, Strive's family decides to relocate to Kitwe, a city located in the Copperbelt province of Zambia.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=602 height=646 style='width:6.2666in;height:6.725in' id="Picture_x0020_12" src="cid:image004.jpg@01D92D36.67F629D0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Strive parents are entrepreneurs who sense better opportunities in Zambia which had recently become independent.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Their home country will likely be in protracted war as a headstrong leader declares his government independent from Britain.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Zambia enhances the entrepreneurial spirit of Strive's parents, Masiyiwa affording him a private school education in Scotland.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1983, Earns a degree in electrical engineering from Wales unlike his initial plan 5 years earlier of joining guerrilla forces.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=488 height=321 style='width:5.0833in;height:3.3416in' id="Picture_x0020_11" src="cid:image007.png@01D92D35.090FFE60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1984, Strive returns to Zimbabwe with optimism to use his skills to aid its recovery. He lands a job at Post and Telecommunications Corporation (PTC)<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1994, Strive approaches Standard Chartered Bank CEO seeking funding for a mobile telecommunications startup.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Nkosana Moyo the then CEO advises Strive to rename his startup with an appealing name say Econet from Enhanced Communications Network<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1998, Econet launches its service and lists on the ZSE after a protracted period in courts fighting for its establishment.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=602 height=338 style='width:6.275in;height:3.525in' id="Picture_x0020_10" src="cid:image015.jpg@01D92D36.67F629D0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2002, Douglas Mboweni becomes the CEO of Econet Wireless. Strive had left Zimbabwe 2 years earlier moving to South Africa<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Econet Wireless becomes a holding entity "EWZL" to strategically position the business and preserve value in light of inflation.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2007, EWZL purchases a controlling stake through Pentamed in Mutare Bottling Company owned by the Goldberg family.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2011, EcoCash a mobile phone based money transfer and financing is launched drawing inspiration from M-PESA in Kenya started 4 years earlier.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2007, EWZL purchases a controlling stake through Pentamed in Mutare Bottling Company owned by the Goldberg family.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2011, EcoCash a mobile phone based money transfer and financing is launched drawing inspiration from M-PESA in Kenya started 4 years earlier.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=600 height=450 style='width:6.25in;height:4.6916in' id="Picture_x0020_9" src="cid:image010.jpg@01D92D35.090FFE60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2013, EWZL acquires a controlling stake in TN Bank a local commercial bank pioneering agent banking. It was a unit of Lifestyle<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>The agent banking model attracted EWZL  to buy it to support the EcoCash platform which was getting attacks from established banks<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2018, EWZL spins off digital solutions assets including EcoCash into a new business Cassava Smartech and list on the @ZSE_ZW<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2021, Mutare Bottling Company (MBC) is sold off to Delta Beverages. MBC held the bottling right to Coca-Cola products in Manicaland.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=400 height=198 style='width:4.1666in;height:2.0666in' id="Picture_x0020_8" src="cid:image018.jpg@01D92D36.67F629D0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Cassava Smartech changes its name to EcoCash Holdings to reflect the backbone business.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2022, EWZL introduces the 5G network to its platform to support the move to a digital lifestyle future positioning.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Strive steps down from the board of directors of EWZL.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#2. Operations,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>EWZL is a telecommunications, media and technology solutions provider group in Zimbabwe.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Its main business is Econet Wireless (PVT) Ltd which provides mobile network services.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Other subsidiaries are mainly investment vehicles for the group<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=602 height=810 style='width:6.2666in;height:8.4333in' id="Picture_x0020_7" src="cid:image019.jpg@01D92D36.67F629D0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Econet Wireless (PVT) Ltd OFFERING,<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Data<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>• Private Wifi and E-learning Bundles etc<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Voice<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>• Buddie is a leading voice brand with 82% of all mobile voice traffic in Zimbabwe<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Buddie Beatz Music<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>• Digital platform that gives customers access to +60,000 songs<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>OmniContact (Business Process Outsourcing)<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>• Offers a low cost call centre providing service solutions for enterprises in Zimbabwe and global.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Gaming<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>• Offers a range of games to gamers from SMS based to web games<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Short Message Service (SMS)<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>YoMix<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Associates<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Cumii Zimbabwe<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>It seeks to enable and promote connected lifestyles by harnessing the trend of internet of things.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Distributed Power Africa<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>A business focused on powering industrial and commercial customers using green energies.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>EcoCash Holdings<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=602 height=338 style='width:6.275in;height:3.525in' id="Picture_x0020_6" src="cid:image020.jpg@01D92D36.67F629D0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#3. Competitors,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>EWZL is the only publicly traded telecommunications business on the @ZSE_ZW<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>It has a number of rivals controlled by Government of Zimbabwe (GoZ) and privately owned enterprises<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Netone<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>The first mobile cellular operator 100% owned by GoZ.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Telecel Zimbabwe<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Started in 1998 as a partnership between Telecel International and Empowerment Corporation.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Bandwidth & Cloud Services (BCS)<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>A recently launched wholesale carrier providing fibre connectivity solutions in Africa using cloud rail network.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Telone<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>The fixed line operator owned by the GoZ which has diversified offering to include internet and data services.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Dandemutande<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>A privately owned business offering a portfolio of internet connectivity solutions.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Powertel<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>A subsidiary of ZESA Holdings.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=602 height=426 style='width:6.275in;height:4.4416in' id="Picture_x0020_5" src="cid:image021.png@01D92D36.67F629D0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#4. Challenges,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Access to foreign currency for capital expenditure to keep up with evolving changes in technology i.e 2G - 5G<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Cost pressures driven by delays in tariff reviews by the regulating authority to factor inflation<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Volatile exchange rate movements.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#5. Share price,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>136 ZWL (USc16.64) per share as at Jan 20, 2023<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>96.26 ZWL per share on the 3rd of January 2023<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>5th on ranking in terms of year to date performance on the ZSE<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>3rd most traded stock over the past 3 months to 20 Jan 2023<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2,590,576,832 issued shares<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>354bn (US$431m) Market cap<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#6. Shareholding,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>38.4% is held by Econet Global Limited a privately owned group registered in Mauritius.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>It is controlled by Strive Masiyiwa the founder of EWZL. The group has investments in its subsidiaries which provide connectivity solutions.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=602 height=381 style='width:6.2666in;height:3.9666in' id="Picture_x0020_4" src="cid:image022.jpg@01D92D36.67F629D0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#8. Management,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>@DouglasMboweni  - Group CEO (Mar, 2002)<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Joined the startup Econet in April, 1996 as a Billing Manager from Chemplex Corporation (CC) which was more established<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>He was a senior systems analyst at CC. Holds a BSc in Maths & Computer Science.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>He has a Masters and PhD in Business leadership.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>EWZL has grown to become the largest telecommunications services provider under his leadership.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>The business was able to nurture and spin off EcoCash Holdings.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>More on this great man </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI Emoji",sans-serif'>👇</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img width=600 height=315 style='width:6.25in;height:3.2833in' id="Picture_x0020_3" src="cid:image030.png@01D92D35.090FFE60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><h1 style='margin:0cm;margin-bottom:.0001pt;line-height:120%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:10.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;font-weight:normal'>Amazon.com <span style='color:#0F1111'>A Dusty Road To Success: Principles of an extraordinary life<o:p></o:p></span></span></span></h1><h1 style='margin:0cm;margin-bottom:.0001pt;line-height:120%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:10.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#767171;mso-style-textfill-fill-color:#767171;mso-style-textfill-fill-alpha:100.0%;font-weight:normal'>A PERSPECTIVE FROM THE CEO OF AN AFRICAN LISTED COMPANY. The desire to succeed and live an impactful life is embedded in every human being.<o:p></o:p></span></span></h1><h1 style='margin:0cm;margin-bottom:.0001pt;line-height:120%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1111;font-weight:normal'><o:p> </o:p></span></span></h1><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#9. Pitch,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>According to Postal Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) report of Q3 2022 EWZL has market share of 67% of mobile subscribers. It had voice market share of 75% and 78% mobile data share. It also has 53% of the hard infrastructure in the sector.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>The same report also state a 75.9% market share of internet and data traffic. Interesting </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI Emoji",sans-serif'>🤑</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>EWZL is positioning itself as a digital services provider. It is already entrenching its dominance in the space by being the first to introduce 5G<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Ability to generate foreign currency through sale of USD denominated airtime bundles<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Competent management team.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse'><tr><td width=623 valign=top style='width:467.5pt;border:solid windowtext 1.0pt;background:#D9E2F3;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='text-align:justify;line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'>Each week will be on a DATE with a company listed on the ZSE with Martin Mataga an Investment Democrat. <b>Twitter @MartinMataga.</b> The purpose of this thread is to assist investors to have a minimum appreciation of listed firms. Bulls n Bears has made reasonable effort to validate and update the information before circulation but the onus is on the investor consult their financial advisor. <o:p></o:p></span></span></p><p class=MsoNormal style='text-align:justify;line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'>Disclaimer</span></b></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'>: Do not misconstrue this thread as investment advice. DATE companies before you buy their shares. <span style='color:#0F1419;background:white'>For comments and questions reply to </span></span></span><a href="mailto:bulls@bullszimbabwe.com"><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:aqua;mso-highlight:aqua'>bulls@bullszimbabwe.com</span></b></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p></td><span style='mso-bookmark:_Hlk95685055'></span></tr></table><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><i><span style='mso-fareast-language:EN-ZW'><o:p> </o:p></span></i></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><i><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Invest Wisely!</span></i></span><span style='mso-bookmark:_Hlk95685055'><i><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></i></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Bulls n Bears </span></b></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'> </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Telephone:     </span></span><span style='mso-bookmark:_Hlk95685055'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'></span><a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW;text-decoration:none'>+263 7</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'>1 9</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW;text-decoration:none'>44 167</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>5<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Alt. Email:      </span></span><a href="mailto:bulls@bullszimbabwe.com"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>bulls@bullszimbabwe.com</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>  </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Website:        </span></span><a href="http://www.bullszimbabwe.com/"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW;text-decoration:none'>www.bullszimbabwe.com</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'> </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Blog:             </span></span><a href="https://bullszimbabwe.com/category/blogs/"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>https://bullszimbabwe.com/category/blogs/</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>  <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Twitter:         @bullsbears2010</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>LinkedIn:       Bulls n Bears Zimbabwe</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Facebook:      </span></span><a href="http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA" target="_blank"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>www.facebook.com/BullsBearsZimbabwe</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:11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