NetOne Focuses On Mobile Money And Data Services To Avoid Liquidation -Reports

29 November 2019

Mergers, Acquisitions and Financial Results

Zimbabwe’s state-owned mobile operator NetOne has revealed that it plans direct its focus towards data, financial services and entertainment media in order to avoid liquidation.

The company’s Public Relations, Marketing and Customer Experience executive Eldrette Shereni said that NetOne decided to revert back to the basics in order to possibly achieve organic growth.

The company has also waived transaction fees (except for the compulsory 2% tax) on its mobile platform until the 31st of December 2019.

NetOne’s’ CEO Lazarus Muchenje said that the telco had introduced zero-rated transactions on all its OneMoney transactions except the 2% tax and card swiping fees.

He added that the move is more about NetOne supporting Zimbabweans at this critical time than it is about beating the competition. However, Muchenje also said that OneMoney aims to overtake EcoCash in two years’ time.

According to a report released by Zimbabwe’s telecoms industry regulator Potraz, NetOne’s active subscribers have increased by 6,1%, while its market share has also grown from 21,4% to 22,3%, with internet and data usage going up by 0,8%.

OneMoney’s market share increased to 7,3% in the second quarter of 2019.

Source: ITWeb Africa