From Business Day Live

Revenue in Zimbabwe’s telecommunications industry fell by 15 percent, while the country’s largest mobile operator, Econet Wireless Zimbabwe, registered a 4.1 percent growth in subscribers in the first quarter pushing its total subscribers to nine million, a report by a regulatory body said.

The Posts and Telecommunications Authority of Zimbabwe (Potraz) said revenue in the first quarter had fallen to $213m from $249 million.

“The total revenue from telecommunications activities generated by the mobile operators in the first quarter of 2014 was $213m. This represents a 15% decline in revenues from $249m recorded in the previous quarter,” the telecoms authority said.

“Total investment was $27,908,609. This represents a 53 percentdecline in investment from $59,097,088 recorded in the previous quarter.”

Economic observers said the decline in revenue and investments was reflective of the general liquidity crunch that had gripped the country since last year.

At more than nine million registered subscribers Econet Wireless now holds a market share of 65.3 percent, well ahead of its next largest rival, Telecel Zimbabwe, which has a 17.7 percent share and state-owned Net One at 17 percent.

 

Read more at Business Day Live