ZIMBABWE: EcoCash tightens grip on mobile transaction volumes

The latest Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) report shows that Ecocash processed 99.7% of the total value of mobile money transactions in the third quarter of 2019, up from 99.6% recorded in the previous quarter.

In the same period, OneMoney's share of transactions remained flat at 0,3%, while Telecash's share of transactions slid from 0,1 to 0,03.

From the report, it means that EcoCash accounted for nearly all of the 106,1% growth in cash ins of about Z$5billion (up from Z$2,4billion in the 2nd quarter), and the 99.2% growth in airtime, bill and merchant payments from Z$2,5 billion in Q2, to Z$4,9 billion in the third quarter.

It would probably come as no surprise that EcoCash's transaction volumes and values have continued to rise, given its numerous use cases (of what customers can do using EcoCash) and its extensive agent and merchant network.

From the Potraz report, OneMoney, only gained customers but that did not translate into transaction activity reflected through a static 0.3% share of transaction volumes.

The Potraz report said OneMoney - whose customer base of 428 529 is 6,3% that of EcoCash's base - grow by 93 397 more customers (27.8%), while EcoCash, which posted 6 707 225 customers, grew its base 64 217 more customers (a percentage point).

Telecash lagged behind, reporting total subscriptions of 54 399 customers, an addition of 209 more customers (or 0.4%) growth from the 2nd quarter.

SOURCE: BULAWAYO24