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Brighton Gumbo, Business Reporter
ZIMBABWE mobile money deposits declined by an average of 11 percent in the third quarter of last year recording $458 million compared to $512 million recorded in the previous quarter.
According to the Postal and Telecommunications Regulatory Authority of Zimbabwe’s (Potraz) latest quarterly report, the authority said the number of mobile money subscribers increased by 7,1 percent to reach 6,7 million from 6,2 million subscribers recorded in the second quarter last year.
It said although mobile money subscribers have been increasing, mobile money deposits have been experiencing periodic fluctuations.
“Total deposits on mobile money platforms declined by 10,5 percent to record $458 million from $512 million recorded in the previous quarter,” said Potraz.
“The number of agents also increased 6,9 percent to reach 29,775 from 27,862 recorded in the previous quarter.”
The report shows that the highest deposits were recorded in the second quarter last year at $512 million with the lowest deposits being recorded during the first quarter which posted $406 million.
In respect of the market share for mobile money subscribers, Econet was the highest, accounting for about 74,8 percent despite a downward trend from 75,2 percent.
Telecel’s market share was the second, maintaining a flat 14,2 percent mobile while NetOne’s mobile money subscribers rose to 11 percent from 10,6 percent recorded in the previous quarter.
In the period under review, mobile network operators revenue operators dropped by 2,9 percent recording $183 million compared to $188 million recorded in the second quarter.
“The increase in national voice traffic did not translate to an increase in revenues. This is because the traffic increase was driven by net-on-net calls which were being offered at discounted promotional rates,” said Potraz.
“Mobile operators are still heavily dependent on voice services for their revenue. Voice service made up 60,1 percent of total mobile operator revenues in the quarter under review.”
Licensed postal and courier operators revenues declined by six percent recording $6 million from $6,4 million recorded in the previous quarter.
“The decline in the revenues of postal and courier operators is attributed to the decline in postal and courier volumes,” said Potraz.
The report further revealed that the mobile penetration rate increased by 1,3 percent to reach 92.8 percent from 91.5 percent recorded in the previous quarter.
It attributed the growth in mobile penetration rate to the increased number of active mobile subscriptions during the period under review.
Online Reporter
derick.khumalo