Econet Asks Its Suppliers To Reduce Prices By 20%
Zimbabwe’s largest Mobile Network Operator (MNO), Econet Wireless has asked its suppliers to cut prices by 20 per cent with effect from May 1.
In a letter addressed to the company’s suppliers and dated 20 April 2020, Econet Wireless Chief Supply Chain Officer Sharon Marufu said that a reduction of prices is necessary to protect the company’s business.
We present the full text of the letter below:
We write to update you on the difficult trading conditions affecting our business and to seek your commitment and co-operation in ensuring that we navigate through the tough times together.
The harsh economic environment and the compounded effects of the COVID-19 pandemic have necessitated an urgent review of our business operations.
As Econet we operate in a regulated industry where our tariffs are significantly trailing the upward movement in our operational costs, threatening the viability of our business.
We, therefore, need to take drastic measures now to safeguard the business and ensure we remain viable so that we are able to continue offering our services to our customers and to retain our suppliers.
It is in this context that we request that all our suppliers of goods and services to Econet Wireless Zimbabwe bear with us by reducing their prices to Econet by at least 20% with effect from May 1, 2020.
We greatly value our partnership with all our suppliers, who are a key stakeholder in our business. As we take this necessary pain to protect our business, we sincerely hope that we will share in the benefits when the economy turns around.
