NetOne looks to narrow liquidity gap

BY MTHANDAZO NYONI

Mobile network operator NetOne has directed its focus on narrowing the liquidity gap and restoring value through maintaining a quality balance sheet as a way of sustaining performance and flexibility in its operations.

The company’s marketing, public relations and customer experience executive Eldrette Shereni told NewsDay Business that as a company, they made the conscious decision to revert back to the basics of telecommunications for sustainable growth.

“These have been complemented by focusing on our key battlegrounds, namely mobile financial services, data services, media and entertainment. The result is that customers have begun realising the value in the products and services on offer,” she said.

“This is to say our network availability is operating optimally at 99%, supported through a base station redeployment exercise and refarming of 2G sites throughout the country.
With enhanced network provision, there is increased demand for products, which will be serviced by 638 channels in the form of franchises, supported by 34 NetOne shops.

“For sustained performance and flexibility in our operations, NetOne’s primary focus is to narrow the liquidity gap and restore value through maintaining a quality balance sheet.”

Shereni said mobile data was a significant contributor to their revenue generation and was a key driver in their service provision as they offer the best value service in the
market.

“Consolidation of data services provides a stage for the provision of ethical content to entertain our customers,” she said.

He said OneMoney has been performing well, evidenced by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) second quarter abridged report for 2019, as Zimbabweans seek alternative payment solutions.

OneMoney’s market share grew to 7,3% in the second quarter of 2019.

The company is currently expanding into alternative payment solutions such as bulk payments “OnePay”, short-term loans (Tsaona), agent lines, merchant codes, cardless merchant purchases, biller codes that enable ease of payments for subscribers.

“This continues to be supported and enhanced through our stable delivery platform, offering the best value per transaction, cemented by availability on Zimbabwe Shared Services Platform ZIPIT,” Shereni said.

“In addition, OneMoney is an official Zimbabwe Revenue Authority payment channel through which individuals and companies can remit taxes. OneMoney also has the agent facility promoting employment creation by offering commissions to registered agents for mobile line registration, cash-in, cash-out and sale of airtime.”

According to the Potraz report, NetOne’s active subscribers increased by 6,1%, while its market share also grew from 21,4% to 22,3%, with internet and data usage increasing by 0,8%.

Shereni said their end of year outlook was to cement on growth and deliver value to their customer base.

“We have also embarked on a nationwide tour to not only appreciate our customers, but the staff who serve them as well,” she said.

Shereni said they were sharing the same challenges as all other companies, that are facing rising fuel costs which affect continuous network availability as they have to power the base stations using generators; theft and vandalism at sites; and a shrinking consumer purse.

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