EcoCash Loses Ground To NetOne’s OneMoney

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Ecocash’s market share fell slightly in the third quarter to 30 September 2019 while NetOne’s OneMoney grew marginally over the same period compared to the previous quarter of the same year.

In its third-quarter report, the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) revealed that Ecocash’s market share dropped to 93.3% from 94.4% in the second quarter of 2019 while OneMoney’s share improved from 4.8% to 6%.

The POTRAZ report also showed that there was notable growth in the volume of mobile money transactions.

The growth in the value of transactions is attributable to the general increase in the prices of goods and services coupled with cash challenges as well as the growth in the number of users.

The number of transactions increased from 477.4 million to 575.4 million, 20.5%.

OneMoney has scaled up its drive to have more subscriptions, while EcoCash has been having bad publicity over the past several weeks after a planned system upgrade resulted in disruption of service for a considerable period of time.

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