Chronicle Editor
Kiyapili Sibanda, Business Reporter
MOBILE money subscriptions increased by 3.4 percent to reach 3 352 476 in the first half of 2017 from 3 251 784 active subscriptions recorded in the previous quarter, a Postal and Telecommunication Authority of Zimbabwe (Potraz) second quarter sector performance report has revealed.
The report indicates that all the mobile operators recorded an increase in active mobile money subscriptions with the highest increase registered on OneMoney.
“The number of active mobile money subscriptions increased by 3.4 percent to reach 3 352 476 from 3 251 784 active subscriptions recorded in the previous quarter,” said Potraz.
An active mobile money subscriber is a subscriber that has used the mobile money service to make transactions that involve the movement of value (such as cash in, cash out, bill payments, airtime top ups, at least once in the last 90 days.
“All the mobile operators experienced an increase in active mobile money subscriptions with the highest increase registered on One Money (30.1 percent),” it said.
The second quarter report by Potraz revealed that Econet increased by 3.3 percent to 3.3 million, Telecel increased by 5 percent to 55 000 and NetOne increased by 30.1 percent to 13 000 subscribers.
According to the sector report, a total number of active mobile money agents increased by 2.8 percent to reach 24 575 from 23 898 active agents in the first quarter of 2017.
“Econet was the only operator to register an increase in active mobile money agents. The decline in active agents by Telecel and NetOne is generally attributed to liquidity constraints, as cash is required to facilitate cash in and cash out transactions.
“Mobile money agents are more concentrated in the urban areas,” it said.
Meanwhile, mobile money has become a popular and convenient method of paying for goods and services amidst cash shortages.
The introduction of bank to mobile wallet transfers has also contributed to the growth in mobile money transactions.
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