Econet Wireless has confirmed cost cutting measures, which include salary reductions for its workers and has also asked suppliers to reduce their prices by 15%.

The Zimbabwean telco has been feeling the heat in an economy that has continued to struggle.

Other experts say its rival telecom operators, Telecel Zimbabwe and NetOne have also raised competition in the industry, contributing to a massive decline in profits for Econet.

"Any supplier who sells goods or services to Econet Wireless Zimbabwe, must cut prices by at least 15% or will be blacklisted as a supplier with effect from the end of July," Econet said in an emailed statement on Tuesday.

Chief executive officer, Douglas Mboweni said Econet had been "forced to lower our prices" after the government instituted a tariff cut and implemented new taxes on airtime top-ups for data and voice.

"If our suppliers don't cut their own prices, we will go out of business. We do not think 15% is too much to ask others for," Mboweni said.