An Evaluation of Budget Practices at Econet Wireless, Zimbabwe

Abstract

This study examines Econet Wireless Zimbabwe's budgeting implementation, effect, and performance in a tumultuous economy. Budgeting helps firms in high-inflation, unstable economies manage budgets and develop strategy, according to this study. The mixed-method study collected qualitative data from 12 case studies of key management figures and quantitative data from 50 structured questionnaires completed by 90% of employees. Theme analysis and means and standard deviations were utilised to assess qualitative and quantitative data. Top-down and bottom-up budgeting enhance accountability and inclusivity in financial decision-making for Econet Wireless Zimbabwe, according to the research. Performance monitoring, resource allocation, and strategy alignment ratings were over 4.0 on a 5-point scale, proving the budgeting process worked. Forecasting mistakes, inflation, and technology caused budget rigidity. Human skill, tech, and managerial commitment determined budgeting success. Participants noted needing profound investment into human capital, financial tech, and geared investment into financial leadership for continued budgetary efficiency. The case was resolved similarly to Econet Wireless Zimbabwe, where participatory, tech, and high-technology management systems accompanied budgeting to solve problems. However, key external constraints on precision and flexibility remain tied to the balance of payments. The research advocates for increased in-house training, real-time analytics, distributed accountability, rolling predictions and model maneuver, and flexible budgeting. These aims are expected to improve the flexibility and robustness of the budget to macroeconomic shocks. The research served dual purpose: empirically estimating the budgetary systems of organizations residing in developing economies and contributing to the literature on achieving financial and strategic agility.