Zimbabwe: Onemoney Gains Market Visibility

13 December 2019

NetOne's mobile money platform, OneMoney's mass registration program of agents and merchants is bearing fruit with the company asserting an increase in transaction volumes on the platform.

OneMoney, the second largest mobile money service provider embarked on a mass registration exercise over a fortnight ago in a bid to gain ground on the country's mobile money market.

Speaking to 263Chat Business, NetOne head of public relations, Eldrette Shereni said OneMoney is steadily improving its visibility on the markets thanks to over 10 000 agents and merchants registered in the last two weeks.

"Over the past two weeks we have registered about 10 200 agents. Yes in terms of usage you will find that over the past few weeks there has been increased usage of OneMoney. There has been more people coming to register and I think it's also because of the number of agents that have also started using OneMoney so there are more footprints in terms of where people can actually access services," Shereni said.

OneMoney has witnessed positive performance this year with the platform registering a 29 percent growth, the highest on the market in active subscriptions during first quarter.

Analysts expect OneMoney to record yet another commendable growth as the year closes leveraging on frequent technical glitches hampering its biggest competitor, Ecocash.

"We also have a lot of merchants who are not predominantly your main line merchants like Ok Zimbabwe etc, we have the smaller merchants like your corner shop, your franchise shops so those kind of people are also now our merchants and it gives people more accessibility that when your go and buy bread in your neighborhood your local tuck-shop can also be on OneMoney so it has also increased transacting footprint as well," added Shereni.

While OneMoney has managed to attract small merchants and retailers like FoodWorld, consumers are still struggling to use the mobile platform at giant retail shops like OK and TM, a challenge it still has to confront before it catches up with Ecocash which dominates the market.

See What Everyone is Watching

More From: 263Chat

Don't Miss

AllAfrica publishes around 600 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.