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Econet loses 20,000 subscribers, says Potraz
15/04/2015 00:00:00
by Business Reporter I The Source
 
 
RELATED STORIES

THE country’s largest mobile phone network, Econet Wireless, lost 20,500 subscribers over the quarter to December last year, the Post and Regulatory Authority of Zimbabwe (Potraz) has revealed.

According to a report by Potraz, state-owned NetOne - the smallest of the country’s three mobile networks - gained close to 500,000 subscribers as its two bigger rivals recorded declining numbers.

NetOne was also the only firm which grew its revenues on the back of increased investment into the business.

“Econet lost 20,519 subscribers in the quarter under review; Telecel lost 71,576 subscribers whereas NetOne gained 486,959 subscribers in the quarter under review.

“Whilst this is the only quarter in 2014 in which Econet experienced a decline in active subscribers, Telecel`s subscriber base has been declining consecutively,” reads the Potraz report.

Revenues for all networks combined over the same period dipped 11,3 percent from $247,8 million generated in the preceding quarter.

The country`s active mobile subscriber base over the quarter to December grew by 3.5 percent to reach 11.8 million from 11.4 million subscribers recorded in the previous quarter.

As a result the mobile penetration rate (active) increased from 87.3 percent recorded in the previous quarter to 90.3 percent, Potraz said.

Mobile money transfer subscriptions grew by 7.3 percent to reach 5.3 million from 4.9 million subscribers recorded in the previous quarter.

“The total value of transfers and transaction on mobile money services increased by 10.6% to record $445.7 million from $403.1 million recorded in the previous quarter.

“The number of agents also increased 13.7% to reach 23,379 from 20,569 agents recorded in the previous quarter,” said Potraz in the report.



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