NetOne’s Mobile Financial Services- OneMoney rebranding and aggressive marketing saw the business reaping rewards as it has increased its active subscribers by more than 49 percent as well as gaining market share this year.
This was revealed by the Postal and Telecommunications Regulatory Authority of Zimbabwe’s (Potraz) Telecommunications Sector Performance Report for 2018 first quarter, which was released yesterday.
By Kudakwashe Pembere
According to Potraz, NetOne experienced the biggest leap in mobile money active subscribers when compared to the last quarter of 2017.
Econet gained 5,96% with Telecel growing by 0,27%
In 2017 last quarter, NetOne had 52 940 active subscribers and in 2018 first quarter it has 79 968 subscribers resulting in 49,17% increase.
Econet had 4 574 409 subscribers in 2017 4th quarter and 4 847 014 in 2018 first quarter gaining 5,96%.
Telecel had 79 429 in 2017 4th quarter and 79 643 in 2018 first quarter gaining 0,27%.
“NetOne experienced the biggest leap in active mobile money subscriptions of 49% when compared to the last quarter 2017 figures.
“In absolute terms however Econet increased its subscribers by 272,605, while NetOne and Telecel increased by 26,028 and 214 respectively,” Potraz said.
Potraz said the number of active mobile money subscriptions increased by 6.35% and all the operators experienced growth.
“The total number of active mobile money subscriptions as at 31 March 2018 was 5,500,625 up from 4,706,778 recorded in the last quarter of 2017. This represents a 6.35% increase in active mobile money subscribers in the first quarter of 2018 when compared to the last quarter 2017 figures.
All the mobile operators experienced growth in the number of mobile money subscriptions,” Potraz said.
In terms of the market share, NetOne was the only operator which gained mobile money share.
“Econet lost 0.4% market share, Telecel lost 0.1% whereas NetOne gained 0.5% market share of active mobile money subscriptions in the first quarter of 2018 ”.
NetOne successfully rebranded its mobile money platform to see it a force to reckon with in the industry.
This is being highlighted by it shaking up the MFS figures in the sector as the latest regulator report highlights.