The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) says telecommunication revenues increased by 2.8 percent to record US$269.5 million in the fourth quarter of last year from US$262 million in the 3rd quarter while mobile money transfers decreased by 35 percent.

This was revealed in the POTRAZ fourth quarter report which was released this Wednesday.

The report shows that mobile money transactions decreased by 35 percent with cross networking transactions going down by 44 percent with the mobile penetration rate increasing by 0.5 percent to reach 94.8 percent from 94.3 percent recorded in the previous quarter.

The total number of active mobile telephone subscriptions increased by 1.4 percent to reach 12.8 million from 12.6 recorded in the previous quarter with NetOne having registered a significant number of new subscribers.

According to the report, NetOne’s data usage grew by 167 percent with Telecel at 80 percent while Econet was at 50 percent.

The increase by NetOne has been attributed to various measures the company adopted, especially after the rolling out of the US$218 million facility from China Exim-Bank for network expansion.