Zimbabwe: Mobile money transfers up 80 per cent
The number of mobile phone owners also increased by 3.5 per cent.The volume of money transfers through mobile phones in Zimbabwe increased by 80 per cent last year.
It now adds up to $1.4 billion (€1.3 billion), an amount likely to keep rising.
Over the last quarter in 2014, the number of people using this service reached 5.3 million, a 7.3 per cent increase compared with the previous quarter.
This growth is even more impressive when considered over a 12-month period as it reached 71.9 per cent.
The number of mobile phone owners also increased by 3.5 per cent over the last quarter. Mobile phone penetration is at the new record level of 90.3 per cent.
However, mobile network operators' revenues are down 18 per cent, as revealed by Potraz, the Postal and Telecommunications Regulatory Authority of Zimbabwe.
Econet Wireless and the state-owner NetOne are the main operators in the market. The third operator, Telecel Zimbabwe, has had its license cancelled.