NetOne’s OneWallet in 2,000% increase in transactions since relaunch

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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.

Econet’s EcoCash now has over 3 million mobile money subscribers, while Telecel’s newly launched Telecash targets to hit 1.6 million subscribers in the first 6 months.


One response

  1. Tawanda Chinobva

    It would be nice to know where the 2000% increase comesfrom, if you had 100 uses a 2000% increase is possible, we need more detail as opposed to percentages. By the Way how muchis Reward Kangai Earning, with the shenanigans at ZBC and Psmas are we wrong to wonder whats happening at Net one and POTRAZ?????