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NetOne is making significant strides to enhance its financial inclusion efforts across Zimbabwe, particularly in underserved rural areas. The company is focusing its resources on revitalizing and expanding its OneMoney mobile money platform, aiming to bring essential financial services to millions of Zimbabweans who have traditionally been excluded from the formal financial system.
According to Zimstats’ 2022 census, Zimbabwe’s rural population stands at 9.3 million, which presents a substantial untapped market for mobile financial services. To address this, NetOne is aggressively growing its agent network in rural communities, establishing thousands of new agents to ensure that people in these areas have access to crucial financial services. The company is also increasing the number of remittance partners available to rural areas, ensuring that Zimbabweans can send and receive money conveniently and securely.
The expansion of OneMoney’s presence is not only about improving financial accessibility for rural communities but also driving digital payment adoption among local businesses. Small businesses, farmers, and shop owners are increasingly using OneMoney, reducing their reliance on cash and improving their financial security and record-keeping. This shift towards mobile payments is streamlining operations, minimizing the risks associated with cash transactions, and ultimately contributing to the growth of local economies.
NetOne’s financial inclusion strategy is not limited to the individual level. The company is focusing on sectors such as pension disbursements, government social grants, and smallholder farmers’ sales fund distributions. By improving access to digital payments, NetOne is boosting local economic activity and helping to stimulate growth in rural Zimbabwe. The integration of OneMoney with essential services like utility bill payments, airtime purchases, and online shopping further increases its appeal and convenience.
With its mobile money platform now covering 98.4% of the country, OneMoney has solidified its position as Zimbabwe’s second-largest mobile money service, trailing EcoCash. However, NetOne is not resting on its laurels. The company has recently upgraded its OneMoney system to address previous limitations, with the goal of further improving the user experience and consolidating its market share.
Mr. Raphael Mushanawani, NetOne’s CEO, emphasized the importance of these upgrades in strengthening OneMoney’s position in the competitive market. “We are addressing the limitations that we have on OneMoney to make sure that OneMoney takes its rightful position in the market,” he said.
By expanding its network and improving the system, NetOne is helping to foster greater financial inclusion in Zimbabwe, enhancing access to essential services, and empowering businesses and communities to thrive in an increasingly digital economy.
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