Zimbabwe mobile network operators recorded a 121% increase in revenue to $828.8 million from $385 million, the third quarter Abridged Sector Report for 2019 has revealed.
The growth of revenues has been attributed to the inflationary pressures in the economy.
“Total mobile network revenue grew by 121% to record $828,834,601 from $375,028,782 recorded in the previous quarter. However, a more than proportionate growth in operating costs was recorded,”
“Operating costs grew by 202.7% to record $707,385,963 from $233,660,532;
the bulk of which being internet bandwidth costs and depreciation,” the report said.
The sector report further revealed the quarterly comparison of the Average Revenue Per User increased by 96.5% to record $15.35 from $7.81 recorded in the previous quarter.
Total investment by the mobile operators increased by 1,865.3% to record $31,085,465 from $1,085,465 recorded in the second quarter of 2019 and capital expenditure was mainly by Econet who invested in national switching, mainly the upgrading of the core network and radio
Telecel made no investment during the period under review.