Econet Wireless Zimbabwe and EcoCash Holdings Zimbabwe Limited have become the first companies in the country to obtain independent assurance on their environmental, social, and governance (ESG) information.
This is a significant milestone demonstrating the commitment of the two companies to transparency and accountability relating to ESG reporting.
ESG reporting is the process of disclosing information about an organisation's environmental, social, and governance performance. This information can include data on greenhouse gas emissions, water usage, employee wages, and board diversity. ESG reporting is becoming increasingly important as investors, customers, and other stakeholders demand more information about how companies are managing their environmental and social impacts.
The independent assurance process on Econet and EcoCash Holdings was conducted by Toxiconsol Consultancy t/a African Sustainability Consultants, a leading consulting firm which specializes in environmental sustainability. Toxiconsol reviewed the leading technology giants’ ESG reporting process and their findings concluded that the information is fair, accurate and complete.
“We are proud to have obtained independent assurance on our ESG information,” Econet and EcoCash Holdings said in a joint statement. “This is a testament to our commitment to transparency and accountability. We believe that ESG reporting is essential for building trust with our stakeholders and contributing to a more sustainable future.”
The Zimbabwe Stock Exchange-listed technology companies support their customers by realising the benefits of a modern connected life through their sustainability framework. Econet and EcoCash Holdings deem ESG management and performance as an opportunity to implement their vision of creating a connected future that leaves no one behind through responsible economic, environmental, and social practices.
Market analysts said that by obtaining independent assurance, Econet and EcoCash Holdings are demonstrating their commitment to meeting the demands of investors, customers, and other stakeholders and providing them with the information they need to make informed decisions.
They added that it will help improve the investment climate in Zimbabwe and attract more investment into the country.
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"By adhering to internationally recognised reporting standards, Econet and EcoCash Holdings have set an exemplary precedent for businesses in Zimbabwe and beyond,” said Jane Kariuki, an African corporate governance expert.
“This milestone not only benefits their stakeholders' trust, but it also encourages the wider business community to prioritise sustainability, contribute to societal development, and strive for a more sustainable future.”
The independent assurance of ESG information is becoming increasingly important as investors, customers, and other stakeholders demand more information about how companies are managing their environmental and social impacts.
Over the past few years, Econet and EcoCash Holdings have led the charge towards holistic sustainability reporting, proving that economic success and ethical practices can go hand in hand.
