News / National
Telcos revenue rises 98% first quarter
22 Jun 2024 at 06:18hrs | Views
In its 2024 abridged postal and telecommunications sector performance report, POTRAZ said in the period under review, MNOs earned Z$2,27 trillion (approximately ZiG$910,46 million) from Z$1,15 trillion recorded in the previous quarter.
The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has said nominal revenue earned by Mobile Network Operators (MNOs) in the first quarter of the year grew by over 98 percent compared to the last quarter of 2023.
In its 2024 abridged postal and telecommunications sector performance report, POTRAZ said in the period under review, MNOs earned Z$2,27 trillion (approximately ZiG$910,46 million) from Z$1,15 trillion recorded in the previous quarter.
However, given the fact that the local currency depreciated by 72,32 percent in the quarter under review from the previous quarter, coupled with rising inflation in the first quarter of 2024 of around 45,90 percent, real growth in revenue was 65,60 percent.
"During the period under review, aggregate operating costs for Mobile Network Operators grew by 188,28 percent from Z$699,8 billion which was recorded in the fourth quarter of 2023, to Z$2,02 trillion (approximately ZiG$807,37 million) which was recorded in the first quarter of 2024."
The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has said nominal revenue earned by Mobile Network Operators (MNOs) in the first quarter of the year grew by over 98 percent compared to the last quarter of 2023.
In its 2024 abridged postal and telecommunications sector performance report, POTRAZ said in the period under review, MNOs earned Z$2,27 trillion (approximately ZiG$910,46 million) from Z$1,15 trillion recorded in the previous quarter.
However, given the fact that the local currency depreciated by 72,32 percent in the quarter under review from the previous quarter, coupled with rising inflation in the first quarter of 2024 of around 45,90 percent, real growth in revenue was 65,60 percent.
"During the period under review, aggregate operating costs for Mobile Network Operators grew by 188,28 percent from Z$699,8 billion which was recorded in the fourth quarter of 2023, to Z$2,02 trillion (approximately ZiG$807,37 million) which was recorded in the first quarter of 2024."
Source - New Ziana
