Netone’s One Money up for the Money
The current cash shortages crisis in Zimbabwe has made Netone’s mobile money service and a Zimswitch-enabled debit card to perform well in the Mobile Money Market after its launch early October this year in Murehwa. According to the report from Potraz’s 3rd Quarter_2017 OneWallet grew by 291.6% from 30.1% with now 51,440 from13,137 Active mobile money subscriptions ( An active mobile money subscriber is defined as customer account that has used the mobile money service to make transactions that involve the movement of value (such as cash-in, cash-out, bill payments, airtime top-ups, etc at least once in the last 90 days).
Netone also gained a market share of 0.9% from 0.4% this shows that the Debit card introduced by Netone is really making it easy for subscribers to transact due to low charges associated with the service, a minimum is 6 cents for any Point of Sale (POS) and minimum being 45 cents whereas Telecash and Ecocash are charging 11 cents and 12 cents in that respective order.
Although Netone recorded the biggest growth in the 3rd Quarter according to the regulator, it is still way behind Econet’s ecocash, Ecocash recorded a growth of 13.5% from 3.3% and also have 3,738,056 Active mobile money subscribers. Telecel came second with a growth of 43.0% and 78,180 Active mobile money subscriptions with a 2% Market Share of Mobile Money Subscriptions.
Overall Active Mobile Money Subscribers as recorded by Telecoms Regulators Q3-2017 was at 3,867,676 with a growth of 15.0%.