HARARE – Shares in Delta Corporation attracted heightened investor interest on the Zimbabwe Stock Exchange (ZSE) ahead of Econet Wireless Zimbabwe’s extraordinary general meeting (EGM), with analysts pointing to portfolio rebalancing linked to the telecoms group’s proposed delisting.
Market participants reported increased activity in Delta counters as uncertainty surrounding Econet’s shareholder vote drove investors toward defensive positions. Securities firm Morgan & Co said it expected a surge in Delta trading volumes as attention shifts away from Econet following the record date for the EGM.
“We expect elevated Delta volumes amid uncertainties surrounding Econet Wireless Zimbabwe’s pivotal EGM,” Morgan & Co said in a market note.
Econet’s market capitalisation has climbed sharply since the company announced its intention to delist in December 2025, reaching approximately US$1.05 billion last week. The proposed delisting forms part of a broader restructuring plan designed to consolidate real estate, tower and power assets under Econet Infrastructure Company Limited (InfraCo), which is expected to list on the Victoria Falls Stock Exchange.
To facilitate the exit, Econet offered shareholders a US$0.50 per share package comprising cash and InfraCo shares, a move analysts broadly described as value-accretive.
The corporate action has had visible spillover effects across Zimbabwe’s equity market. Delta’s market capitalisation rose significantly in recent sessions, with traders citing migration of funds from Econet into consumer and defensive stocks.
FBC Securities said trading on the ZSE had been largely concentrated in Econet and Delta counters, with turnover volumes reflecting strong repositioning activity.
“A sizeable portion of Econet’s market capitalisation could rotate into Delta as investors seek stability,” FBC Securities said in its weekly market commentary.
Delta is increasingly viewed as a defensive play, supported by revenue projections approaching US$1 billion for the financial year ending March 31, 2026. Analysts pointed to the company’s strong earnings visibility and dominant market position within Zimbabwe’s beverages sector.
While analysts endorsed Econet’s restructuring strategy, some cautioned that investors should remain mindful of valuation uncertainties and governance concentration considerations associated with large corporate reorganisations.
Meanwhile, Econet Infrastructure Company Limited announced the appointment of Fayaz King, a former senior executive within the Econet group, as chief executive officer, reinforcing management depth ahead of the planned listing.
The developments underscore the growing influence of major corporate actions on Zimbabwe’s capital markets, where liquidity flows remain heavily driven by movements in blue-chip stocks.
