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MNO revenue shot up by 194.7% in Q3 2020

Telecel, Econet, NetOne POTRAZ Report subscribers

POTRAZ‘s sector performance statement for the third quarter of 2020 gave a peek into the financial results for Zimbabwe’s Mobile Network Operators (MNOs), Internet Access Providers (IAP) and Postal and Courier operators. The standout figures in the report were for MNO revenue. Zimbabwe’s mobile operators (Econet, NetOne and Telecel) revenue increased by 194.7% in the third quarter of 2020.

In the second quarter, MNOs registered ZWL$3billion but that figure was eclipsed by the ZWL$8 billion they raked in for Q3. The marked increase in revenue was coupled with an increase in operating costs. According to POTRAZ’s statement, MNO operating costs increased by 23.6% from the ZWL$2.1 billion that was recorded in Q2 to ZWL$2.5 billion. However, POTRAZ’s didn’t include exchange rate losses in the statement they published.

Other sector financials

Internet Access Providers (IAPs) saw a 148.6% increase in revenue recording ZWL$2.85 billion from the ZWL$1.15 billion recorded in Q2. IAPs suffered the most in operating costs recording ZWL$1.9 billion in Q3 from the ZWL$918 million in the second quarter.

The Postal and Courier operators bounces back from from the poor showing in Q2 recording ZWL$149 million in revenue from the ZWL$64 million the sector registered in Q2. Postal and Courier operators were unfortunately not immune from operating costs. They saw an 86.9% growth in operating costs from the ZWL$58.7 million recorded in Q2 to ZWL$109.7 million in Q3 2020.

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