OneMoney continues to be on an exciting growth trajectory with the mobile money platform witnessing a 32% surge in subscribers in the last quarter of 2018. This 32% increase means that the Netone-owned mobile wallet added as much as 59 000 (181,990 to 241,566) from September to December 2018. The mobile money platform upward trajectory has been revitalized since its CEO Lazarus Muchenje took up the reins.
Furthermore, agents who deal with OneMoney sharply increased by 18 %. Whilst I’d want to dare to say that the increase in mobile money subscriptions is wholly owed to the increase in OneMoney agents, the 160 000 (5.2%) growth of Netone’s subscribers was also a key driver. Furthermore, the aggressive market campaigns channeled through OneMoney Debit card and its school fees promotions are no less influential to the surge of OneMoney subscribers.
What of EcoCash and Telecash?
Where OneMoney gained, Telecash lost significantly and EcoCash experienced a meager growth. In the final quarter of 2018, Telecash lost 1% of its subscribers and EcoCash increased users by just 0.7%. Although there is a no direct relationship between the number of agents and mobile money subscribers, all mobile money platforms witnessed corresponding trends in the number of agents- OneMoney agents increased by 18%, Telecash agents decreased by 11% and Ecocash agents increased by 5%. But in summation, EcoCash is still the king of mobile money, with 95%, followed by OneMoney 4% and Telecash with %1.
Keeping the momentum
OneMoney’s marketing strategies seem to be working to steal Telecash’s (and Telecel’s) subscribers, attract new subscribers and onboard Netone’s existing subscribers. Suffice to say that as long as Netone keeps sucking in new subscribers, more people will be enticed to the OneMoney platform.