Telecoms sector posts 9,2pc profit

ZIMBABWE’S postal and telecommunications sector registered a 9,2 percent revenue growth in the third quarter to September, 2018 on the back on increased usage of data and internet. In its Postal Telecommunication Sector Performance report for the third quarter, the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) said turnover grew to $435 million from $398 million in the previous quarter. Active internet subscription rose by 7 percent to 7 690 134 from 7 197 279 recorded in second quarter. Mobile internet and data usage increased by 21 percent to 7,395 terabytes (TB) from 6 104TB, driven by social media. “Social media continued to drive mobile data usage with WhatsApp bundles constituting 32 percent of total mobile data usage.

“At 18 719TB, mobile internet and data consumption from January to September 2018 has already exceeded 15 361 TB consumed in 2017,” said Potraz.” Mobile telephone revenue rose by 13,1 percent to $331,2 million from $292,9 million in quarter 2 while the penetration rate reached 91,9 percent from 87,7 percent, said Potraz. Revenue from postal and courier services declined by 8,5 percent to $8,3 million from $9 million recorded in the second quarter of 2018. While the sector registered growth in revenue, operating costs rose to $250 million from $217 million.

ALL SHARE

The All Share index came off a further 2.37 points (1,61percent) to close the week at 144.89 points. Delta shed $0,1630 to close at 2.6460, Old Mutual Limited eased $0,0502 to end at $8,1497 and Dairibord was $0,0355 lower at $0,1645. Cassava Smartech Zimbabwe Limited dropped $0,0347 to $1,4470 while Ariston decreased by $0,0049 to settle at $0,0201.

Gains were seen in four counters; SeedCo moved up by $0,00261 to close at $2,0261, Axia shifted up $0,0100 to $0,4200 while Bindura improved by $0,0090 to trade at $0,0700. Econet was $0,0082 higher at $1,4496.