NetOne sees sales grow 13.8% in first half

12 Oct 2015

Zimbabwe’s second largest cellular operator by subscribers, NetOne, has reported revenues of USD57.8 million for the half year ended 30 June 2015, up 13.8% on the same period of 2014. The growth was driven by improved subscriber uptake and increased usage of mobile data services, the firm said. EBITDA rose from USD9.6 million in 1H 2014 to USD10.4 million this year, though net loss stood at USD5.8 million due in part to the cost of acquiring spectrum in the 700MHz band which will help the state-owned cellco expand its 4G LTE networks. NetOne reported 3.56 million subscribers at the end of June 2015, up from 2.7 million a year earlier, although industry regulator POTRAZ puts the company’s user base at closer to 3.2 million due to differences in accounting for active customers.

Zimbabwe, NetOne