NetOne Signs A $71 Million Deal With Huawei in Zimbabwe

Tuesday, January 9, 2018

NetOne has signed a deal with one of the leading tech companies in the world, Huawei Technologies International. The deal (a funding agreement to be precise) of $71 million was signed on the last day of 2017 i.e. on the 31st December.

So far, NetOne has a number of times been called out for underperforming, along with Telecel, the second parastatal telecommunications company in Zimbabwe.

Comparing with the private owned company Econet Wireless Zimbabwe, both parastatal telecommunications companies have been an epic fail especially in terms of revenue generation. Not only have they not performed as per expectation in mobile telephony, but they also seem to be struggling on their mobile money platforms. We will not even talk about how EcoCash has more that 90% of the market share as far as mobile money transactions are concerned.

Photo courtesy of Simon Berry.

Source: Techzim (link opens in a new window)

digital payments, fintech, telecommunications