NetOne sets sights on OneMoney system upgrade
STATE-owned mobile network operator NetOne says it is mulling upgrading its mobile money platform OneMoney by installing a new system, which the firm deems critical to consolidate the operator’s market share.
One Money is the second largest mobile money platform in Zimbabwe after Econet Wireless’s EcoCash and has struggled to wrestle away significant market share from the industry’s dominant leader owing to several operational challenges.
Another State-controlled and struggling operator, Telecel’s Telecash is the industry’s smallest operator in third place.
Mobile money platforms have been instrumental in the financial inclusion drive enhancing financial access to underserved populations in the country, which has allowed more people to participate in the formal financial system and access basic financial services.
The platforms have also been integrated with other numerous facility platforms including for utility bill payments, airtime purchases, and online shopping, providing added convenience for users.
NetOne upbeat its platform will be enhanced by the end of the second quarter of 2024 as the firm is investing significant resources towards its revitalisation and increased visibility.
In an interview, NetOne chief executive officer, Mr Raphael Mushanawani said plans were in the pipeline to upgrade the OneMoney system, the Bulawayo core network, deploy 5G network, and for an e-sim rollout.
“We are addressing the limitations that we have on One Money. I am sure by the end of the second quarter you should be seeing us coming back, rebranding with more energy to make sure that One Money takes its rightful position in the market.
“We successfully upgraded our network last year, December 2023, where we have seen a large improvement in the provision of our services. We will continue to do that in 2024 and ensure that the entire country is covered,” said Mushanawani.
Lately, the MNO has been channeling resources towards data and internet services provision as data traffic continues to dominate the firm’s revenue contribution compared to voice traffic.
The mobile network operator said data traffic now contributes 51 percent to the current revenue share while voice traffic earned about 49 percent.
In 2023, NetOne invested a total of US$17 million and $12 billion in capital expenditure as the firm seeks to optimise network coverage, particularly internet and data services going into 2024.
Some of the funding went towards the tower redeployment project, rollout of 3G sites capacity upgrades, installation of new radio network controller, radio access equipment, and core network equipment including routers and switching apparatus.
It has also embarked on a program to add mobile stations in the marginalised areas, making sure that mobile base stations are deployed ubiquitously.
herald.c.zw
