NetOne’s mobile money service OneWallet is said to have experienced a 2,000% increase in transaction volume since the re-launch in November 2013. These claims are contained in a FinX report which quotes the NetOne CEO, Reward Kangai.
In an interview with FinX, Reward Kangai is quoted as saying.
“ There has been a huge OneWallet surge from the time it was re-launched in November last year by the Minister of ICT and Postal Services, Webster Shamu. We saw a huge number of people registering for OneWallet. The volumes of transactions also increased exponentially with significant amounts. At the close of last year, the volume of transactions had gone up by 2,000%,”
The FinX report does not go into the absolute numbers of the subscribers and transaction volume, so there isn’t much to analyse in terms of the growth relative to actual figures.
NetOne is the country’s smallest mobile operator by subscribers. The company relaunched their mobile money product last year in an attempt to challenge Econet’s dominance in mobile money. This report from FinX is the first indication yet of OneWallet’s performance since relaunch. Unfortunately, it still leaves us with more questions than answers.