According to Potraz’ 1st quarter 2020 telecoms performance analysis reports an inclusive decline in the value of cash in cash-out transactions compared to the 4th quarter 2019 report.
Inclusive Zimbabwe’s three mobile money networks (Netone, Telecel and Econet) cash in mobile money transactions 4th quarter 2019 and 1st Quarter 2020 had a variance of a negative -5.9 per cent.
The Cash In figures stood at $6,191,834,427 4th quarter 2019 and went down to $5,825,242,456 in 1st quarter 2020. In the performance report, Potraz this is attributable to the cash shortages in the economy.
There was also a considerable decline in the Cash Out transactions from 4th quarter 2019 reporting $1,605,591,004 to 1st quarter 2020 recording $1,380,072,196, thus a variance decrease of a minus 14 per cent.
There was considerable development in the value of cross-network as well as airtime, bill and merchant payments. Cross Networks increased by 135.9 per cent with airtime and bill payments increasing by 129.8 per cent from $5,305,306,680 to $12,193,008,455.
The growth in the value of the bill and merchant payments is attributable to the increase in the scope of services that can be paid through mobile money as well as the general increase in the prices of goods and services.
In the market share of mobile money transactions, Ecocash continues to dominate the market in terms of the number and value of transactions with 98.32 per cent and 95.92 per cent.
OneMoney`s market share of the value of processed transactions improved from 1.1% to record 4% in the 1st quarter of 2020. This may be attributable to the increase in subscriptions following the zero-rating of all mobile money transactions in December 2019.