The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), in a 2015 fourth quarter report, said the previous quarter recorded transactions were valued at $458 412 196. This comes as the number of agents also increased by 11,7% to 33 259 from 29 775 recorded in the previous quarter.
Potraz said the number of mobile money subscribers also increased by 9,9% to reach 7,3 million. “The total value of transactions on mobile money platforms increased by 16,3% to record $533 067 245 from $458 412 196 recorded in the previous quarter,” the regulatory body said. “Cross-network transfers were implemented in the fourth quarter of 2015. Mobile money subscribers are now able to send money across all the three networks. A total of $2 256 390 was transferred across the three mobile networks, representing 0,4% of total transactions.”
In terms of market share, Econet remained dominant, having 96,9% of the value of tractions made, 72,2% of the number agents, and 74,3% in terms of subscribers using mobile money platform. Telecel was a distant second, accounting for 3,1% of the value of transactions made, 21% of agents and 14,3% subscribers. NetOne accounted for 0,01% of the mobile money transactions, 6,8% of the agents and 11,4% of the mobile money subscribers. Analysts say the average amount of mobile-based money transacted was $20, which was used to pay bills, buy goods and send money to family or friends. Financial securities expert, Persistence Gwanyanya said the world was moving towards a cashless society and Zimbabwe is also moving in that direction.
NewsDay