The minister of ICT Postal and Courier Services, Hon Supa Mandiwanzira has challenged NetOne and the new product One Money to start making profits and at least declare dividends so that the mobile network claims its true market share position.
Speaking during the official launch of One Money, the minister said the President Of Zimbabwe met the business leadership and was concerned over under performing state owned enterprises as he hinted a death nail sounds over non performers.
“The president had questions around NetOne, We have not received a dividend from NetOne, neither have we seen any profits from it, however tonight they have earned their colors for delivering a service that the people have been waiting for.”
The minister also added that the new One Wallet which has moved from the Gamalto system will now be running under the M-pesa, replica system which has registered major success in the east African country as pioneers of mobile money.
“More importantly we are excited to have the launch of the new One Money running under the Mpesa mobile system which is a world wide known and renowned system, thanks to Huawei team for the engineering”
The NetOne Acting Chief Executive Officer, Mr Brian Mutandiro also said that they had been shamed by NetOne history of not making profits as they failed to return on major investment
We endured a lot of pain from One wallet, so much money to the tune of $6 million was invested to us only to make revenue of $51 00, this was pain and shame that we have endured, but we are excited about the new baby that has come.
We are overhauling many old systems at NetOne and One Wallet is one of them, but it has not been easy for us, and today i stand and say this is it, Thank you God!
Mutandiro also mentioned that there were efforts to sabotage the launch of One Money, without mentioning the saboteurs.
We hoped we would have launched the service by June but there were some serious delays , which forced us not to launch.
One Money becomes the third attempt by NetOne after they initially launched the first ever mobile money service in Zimbabwe, through One Wallet. it remains to be seen how their new platform will impact the market.