- The telecoms giant is currently implementing virtualised core network
- This will increase flexibility, scalability and cost-effectiveness
- Econet has also already begun deploying a new digital KYC platform designed to streamline the customer onboarding process
Harare- Econet Wireless Zimbabwe Limited, the largest telecommunications company in Zimbabwe by market capitalisation and customer count, is currently implementing a virtualized core network as part of its digital transformation strategy. This new network architecture will replace the current core network system, offering greater flexibility, scalability, and cost-effectiveness through the use of network function virtualization (NFV).
Since its inception, Econet Zimbabwe has been at the forefront of introducing new technologies and services in Zimbabwe, and has played a significant role in transforming the country's telecommunications industry. The company has been on a journey of technological and digital revolution, characterized by innovation, investment, and a commitment to transforming Zimbabwe's telecommunications industry. This is despite operating in a complex operating environment coupled by a regressive tax regime, voodoo economic policies, below inflation tariffs adjustments, forex headwinds and inflationary pressures which are detrimental to its growth efficacy.
By deploying virtualized software on general-purpose servers and computing resources instead of dedicated hardware, Econet can easily introduce new services and features such as virtual private networks (VPNs), cloud services, and software-defined networking (SDN) to improve the customer experience and attract new customers.
A virtualized core network system is a telecommunications network architecture where core network functions are implemented using virtualized software on general-purpose servers and computing resources, instead of dedicated hardware. This approach offers greater flexibility, scalability, and cost-effectiveness. By using virtualized software, the Company can more easily introduce new services and features to its customers, such as virtual private networks (VPNs), cloud services, and software-defined networking (SDN), which can improve the customer experience and attract new customers.
The system offers a plethora of benefits as it can be easily scaled up or down to meet changing demand, allowing for efficiency in allocating network resources and providing better service to its customers as demand fluctuates. By using virtualized software running on general-purpose servers and computing resources, this reduces its reliance on expensive hardware equipment, which can lead to significant cost savings in the long term. The Company can easily integrate new network.
Additionally, Econet has already begun deploying a new digital Know Your Customer (KYC) platform, starting with a new digital KYC solution designed to streamline the customer onboarding process. This platform will allow customers to complete KYC online, resulting in a more convenient, secure, and user-friendly experience. The platform uses advanced data analytics and identity verification technologies to ensure that customer information is accurate and up-to-date, and that customers are who they claim to be.
Econet's services have been poor as of lately in urban areas, let alone rural areas, where the company has few base stations. These digital solutions will boost the company’s customer service rate as its family continues to add more numbers.
To extend revenue streams, Econet needs to increase network penetration in rural areas where a large population is. The company can even partner with big names like Starlink to enhance data penetration in rural areas. Currently, Econet boasts the expensive data bundle but while services continue to frail.
However, Econet should also continue investing in fibre optics, fifth generation technology, cloud computing, internet of things and artificial intelligence. Fibre-optic cables are used to transmit large amounts of data over long distances at high speeds. These cables use light waves to carry information, which allows for faster and more reliable communication.
They allow companies to transmit large amounts of data quickly and reliably, which can improve the user experience and enable new services, such as high-quality video streaming and cloud-based applications. Fiber-optic networks are also more scalable than traditional copper networks and require less maintenance, which can help reduce costs over the long term.
On the other hand, 5G network which Econet only has the technology in Zimbabwe will accelerate in providing faster speeds and lower latency than previous generations, which can improve the user experience and enable new services, such as virtual and augmented reality applications. 5G networks can support a larger number of connected devices, which is important for the growth of the Internet of Things (IoT). By providing faster and more reliable connectivity, 5G networks can also help improve productivity and efficiency in industries such as healthcare, transportation, and manufacturing.
To enhance customer satisfaction and customer relationship management, the company should continue enhancing the internet of Things (IoT). By collecting and analysing data from connected devices, the company gets insights into customer behaviour, product performance, and operational efficiency. This can help it to improve its products and services, reduce costs, and increase revenue. The IoT further enable new business models and revenue streams, such as subscription-based services and predictive maintenance.
Further investments in AI can help the company to improve network performance, identify and mitigate security threats, and provide better customer service. By analysing network traffic and performance data, AI will help to optimize network and improve the user experience, help the company to detect and respond to security threats more quickly and accurately, reducing the risk of data breaches or other security incidents.
A feasibility study carried shows that people are tapping into Net0ne network due to poor services by Econet in many areas, especially in rural areas.
In the long term, the company should consider other modern technology if not already vested interest into them like Massive MIMO, network slicing, quantum key distribution, terrestrial trunked radio and hyperscale data centres. These services have been implemented by gig telecoms like Verizon, AT&T, and T-Mobile in the US, Vodafone, China Mobile and China Telecom in China.
Massive MIMO helps the company to increase network capacity and data rates in high-traffic areas, which can help reduce the need for additional infrastructure and spectrum. Though the biggest network in Zimbabwe, Econet is lagging in terms of infrastructure development hence, struggling to accommodate high network and data traffic. his can help companies save on capital and operational costs. The same goes with Network slicing which will help with the use of network resources and reduce the need for dedicated infrastructure for specific customers or applications. This is key in reducing capital and operational costs, while also generating new revenue streams.
Quantum Key Distribution is still in the experimental stage, but has the potential to reduce the costs associated with traditional encryption methods, such as public key cryptography. QKD can provide highly secure communication channels that are virtually impossible to intercept, which can help companies reduce the costs associated with data breaches and other security incidents.
Thus, by adopting and leveraging the latest technologies, Econet can overcome its infrastructure challenges, meet the growing demand for network services, and stay ahead of competitors. Whether through fibre optics, 5G networks, cloud computing, the IoT, or AI, Econet has a range of tools at its disposal to improve the user experience, reduce costs, and generate new revenue streams.
By embracing these technologies, Econet will further buttress its position to compete more effectively and meet the evolving needs of its customers in a rapidly changing digital landscape.
Equity Axis News
