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OneMoney records 27.8% growth

NetOne’s mobile financial arm, One Money recorded a growth of 27.8%, from 335,132 active mobile money subscriptions to 428,529 the third abridged sector report by Potraz has revealed.

Ecocash recorded a 1% increase from 6 643 008 in the second quarter to 6 707 225 in the third quarter. Telecash had 54 190 subscriptions in the second quarter to 54 399 in the third quarter posting 0.4 percent growth.

OneMoney is likely to continue registering growth through its robust switch over to NetOne campaign, at the same time promotions such as the “zero tariff on all transactions” will attract subscribers to switch over to the network.

The mobile money market share reflected One Money gaining 6.0% from 4.8% recorded in the last quarter. Ecocash’s market share stood at 93.3% from 94.4%. Telecash’s market share remained unchanged at 0.8%.

NetOne recorded a 10.6 percent increase in active mobile subscriptions from 2 752 458 in the second quarter to 3 042 930 in the third quarter according to the report.

Econet recorded a marginal 2.2 percent in subscriptions from 8 574 412 in the second quarter to 8 759 360 in the third quarter.

And Telecel had a 2.3 percent increase from 1 027 445 in the second quarter to 1 051 325 in the third quarter.

NetOne Chief Executive Officer Lazarus Muchenje said the company is poised to become Zimbabwe’s Leading Mobile Telecommunications provider.

“The results documented through the Regulator, POTRAZ, are a testament that subscribers are beginning to enjoy the value of our products and services, and the fruition of the Back to Basics approach,”

“The year 2020 will be another great year for NetOne, as we showcase our mantra “Excellence is a Habit” through the continued provision of world-class service to Zimbabwean’s everywhere, regardless of the geographical divide,” he said.

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