Mobile money boosts Econet revenues in Zimbabwe

Tuesday, May 6, 2014

Econet Wireless, the biggest telecoms firm in Zimbabwe, has 780,000 additional subscribers for the year-end to February, it said on Monday, while revenues have risen 8% to $752.7 million.

The company notes it has around 9 million network users. Its other competitors, state run NetOne and privately owned Telecel Zimbabwe have just below 5 million subscribers shared between them.

Econet chief executive officer, Douglas Mboweni, said revenue from mobile voice telephony services have remained flat despite the surge in network user numbers.

“Although we added over 780 000 new subscribers over the last 12 months, they did not help to increase revenue,” said Mboweni.

Source: ITWeb Africa (link opens in a new window)

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mobile banking, mobile finance, mobile money