Source: The Herald – Breaking news.
Zimstats’ 2022 census revealed that Zimbabwe has a rural population of 9,3 million, which provides a significant potential market for OneMoney services. 
Business Reporter
STATE-owned mobile phone operator NetOne says it is in the process of enhancing its financial inclusion strategy by expanding OneMoney agent networks and growing remittance partners in rural Zimbabwe.
The MNO is directing more resources towards the revitalisation and visibility of its mobile money platform.
Zimstats’ 2022 census revealed that Zimbabwe has a rural population of 9,3 million, which provides a significant potential market for OneMoney services.
As such, NetOne is expanding its agent network, establishing thousands of new agents in rural Zimbabwe, aimed at providing essential financial services to underserved communities.
According to NetOne, it is also working on growing the base of its OneMoney remittance partners in rural Zimbabwe, ensuring that rural communities receive money conveniently and efficiently.
The MNO’s intention to drive merchant partner growth stems from its recognition of the significant benefits that digital payments offer to businesses.
According to NetOne, through OneMoney businesses can improve their record-keeping and financial security, streamlining their operations and reducing the risks associated with cash transactions.
Small businesses, farmers, and shop owners are increasingly embracing OneMoney as a payment method, reducing their reliance on cash and increasing financial inclusion.
This not only supports local businesses, but also helps to stimulate economic growth by boosting economic activity by keeping cash circulation within rural economies.
These services will be offered through access points that include Zimpost, TelOne, Petrotrade, OneMoney and retail leader outlets.
Some of the areas targeted by NetOne’s financial inclusion drive include digital disbursements to pensioners and traditional leaders, distribution of government social grants to beneficiaries and smallholder farmers’ sales funds disbursements.
“Financial inclusion is a key driver for economic growth. As such, NetOne is ensuring the growth of remittance partners in rural areas, ensuring rural communities can receive money conveniently, and this has boosted local economic activity by keeping cash circulation within rural economies.
“NetOne has also embarked on merchant partner growth with small businesses, farmers, and shop owners now accepting OneMoney as a payment method, reducing reliance on cash,” said NetOne in a presentation at the Global Money Week commemorations.
Mobile money platforms have been instrumental in the country’s financial inclusion drive, as they enhance financial access to underserved populations in the country, which has allowed more people to participate in the formal financial system and access basic financial services.
The platforms have also been integrated with numerous platforms, including utility bill payments, airtime purchases, and online shopping, providing added convenience for users.
OneMoney is the second largest mobile money platform in Zimbabwe after EcoCash, and has been working hard to consolidate and grow its market share lately, leveraging the fact that its network availability covers 98,4 percent of the country. Telecash follows in third place.
However, NetOne has upgraded its mobile money platform through the installation of a new system.
Previously, NetOne Chief Executive Officer, Mr Raphael Mushanawani, indicated that initiatives were in the pipeline to upgrade the OneMoney system and core network.
“We are addressing the limitations that we have on One Money to make sure that One Money takes its rightful position in the market,” said Mr Mushanawani.
COMMENTS