OneMoney Increases its Active Subscribers
State-owned mobile network operator, Netone, is gaining significant turf in the Telecoms Sector. According to the telco industry’s second-quarter report, trends are showing that NetOne is increasingly becoming competitive and posing competition to dominant rival, Econet.
In the 3 months period to June 2018, Potraz reports, NetOne managed to gain 10.1% Active Mobile Subscriptions which was the biggest growth in the sector while Econet and Telecel recorded 4.5% and 13.1% growth respectively.
NetOne’s active subscriptions increased from 2.64 million to 2.9 million which was a 10.1% upsurge. This growth was attributed to One Money which is fledging mobile money service run by NetOne.
Across the market, mobile money services have seen a surge in transactions volumes in line with the scarcity of cash and the proliferation of digital payment solutions.
The growth in NetOne’s One Money fortunes can be traced to the final quarter of 2017 where the company undertook to aggressively market its mobile product leveraging synergies with parastatals while endearing itself with the public through promotions and marketing.
in the 3 months, period to June 2018 OneMoney recorded the highest growth in the sub-sector at 93.0% to 152,415 Active mobile money subscribers.
Despite the boardroom squabbles at Netone, the company was the only one among the 3 competitors to add 4 LTE (a standard for high-speed wireless communication for mobile devices and data terminals, based on the GSM/EDGE and UMTS/HSPA technologies) base stations in the country which improved the quality and speed of the network. NetOne’s One Fusion promotion is the main driver of its revenue and market share growth.
Although earlier in the year One Fusion affected some few changes to its Facebook bundles such that downloads were restricted on Facebook, the company’s growth momentum remained undeterred. this is large to the relative cheapness of its general data offerings.