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Econet tariffs shoot up

Business
Econet Wireless

DIVERSIFIED telecommunications company Econet Wireless has increased its tariffs effective from tomorrow.

In a statement, the telecommunications company said it had raised its tariffs by 61% in line with the regulatory approvals by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz).

The new tariffs for voice calls will be $0,4325 per second. For data, Econet will charge $4,1036 per megabyte and $5,3309 for every SMS.

This comes as State-owned fixed telecommunications company TelOne also recently increased its rates by the same percentage.

The development will put further strain on customers who rely heavily on data services to conduct business  and whose incomes have been severely eroded by galloping inflation which stood at 285,02% for the month of August.

In a recent update, Econet company secretary Charles Banda said the total increase will be staggered over three equal monthly instalments.

”The telecommunications sector was granted a staggered tariff adjustment by the regulator of 61% in July 2022, and a further 61% with effect from September 1, 2022, and a further 61% with effect from November 1, 2022,” he said in  the company’s  financial update for the  first quarter ended May 31 2022.

“The tariff adjustments will cover voice, SMS, data and internet services and are determined in the local currency.”

Telecommunication companies have bemoaned that the tariffs are inadequate and a threat to their viability.

Econet said recently that a “scientific and fact-based approach” to setting tariffs that take into account the movements in the Telecommunications Price Index, will allow the group to remain focused on delivering high quality digital services across the country.

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