BroadbandCompaniesMobile & TelecomsMovers & Shakersnews

Zimbabwe mobile money transactions blossom


HARARE – ZIMBABWE’S mobile money transfers have more than doubled to over R15 billion ($1,4 billion) in the previous year.

This is a significant increase from over R7 billion, national regulator announced.

The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) said $1,442 billion (about R15,862 billion) was transacted last year alone against $797,9 (about R8,7769 billion) in 2013.

This increase represents a significant leap of mobile money increase from the country’s three mobile network operators.

The country has three mobile network operators comprising Econet Wireless, Telecel Zimbabwe and the state owned TelOne.

Telecel’s licence has nonetheless been cancelled.

“Annual comparison of total value of transactions shows that deposits increased by 80,8 per cent to $1,442 billion in 2014 from $797.9 million recorded in 2013,” the POTRAZ statement read.

The mobile money transactions barely comes a year Zimbabwe recorded a 106 per cent mobile penetration with effective 60 per cent of people in the Southern African country now have access to mobile services.

The mobile penetration now offer people safe and convenient ways to transfer money, pay for electricity, basic services and other services could be enjoyed by those that own mobile phones.

The three mobile networks assisted the country’s more than 11 million subscribers to communicate, transact and receive money from abroad, a move which has seen the country’s financial sector receive a boost since the period of hyper inflation of 2008, which led to the country’s loss of their own currency.

New mobile subscribers for Zimbabwe rose to 11.8 million from 11.4 with Econet leading with 6.4 million, TelOne 3.1 million while Telecel Zimbabwe has 2.1 million subscrobers

– CAJ News


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button