Zim's mobile money subs reach 5.3mn

There are now 5.3 million mobile money subscribers in Zimbabwe, with the total number of transaction values rising by 80% to $1.4 billion in 2014 compared to the previous year, latest data shows.

All of Zimbabwe's three mobile operators namely Econet, NetOne and Telecel Zimbabwe - run mobile money services.

An industry report by the Posts and Telecommunications Regulatory Authority of Zimbabwe (Potraz) showed on Wednesday that the total number of mobile money transfer subscriptions grew by 7.3% to reach 5.3 million during the third quarter period to the end of December compared to the previous quarter's 4.9 million subscribers.

"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 by 13.7% to reach 23,379 from 20,569 agents recorded in the previous quarter," reads the Potraz report.

It also said the yearly total transaction value for 2014 increased by 81% to $1.4 billion compared to the previous contrasting period.

Mobile money agents for 2014 increased by 14,210 new agents to reach 23,379 by the end of December.

SOURCE:ITWEBAFRICA