Telecoms firms comply with RBZ directive
LIVINGSTONE MARUFU
Zimbabwe’s mobile telecommunications companies have complied with the Reserve Bank of Zimbabwe (RBZ)’s directive to reduce physical airtime sales to 20% by the end of January, Business Times can report.
The central bank also directed the country’s mobile telecommunication service providers — Econet Wireless Zimbabwe, NetOne and Telecel — to further reduce recharge card sales to 10% by the end of April this year.
The move means that airtime dealers and individuals are now compelled to use electronic recharge as opposed to physical airtime.
On the one hand, the phasing out of the scratch cards system for airtime recharge to electronic top up will help telecommunications companies to cut on production costs as well as responding to environmental concerns.
“We are already at 95% as far as the electronic airtime services platform is concerned, with only 5% of the physical airtime.
“NetOne has already surpassed the April 2022 target of only 10% of the physical airtime,” NetOne’s head marketing and public relations, Roselyn Chisveto told Business Times.
She added: “The promotion of social distancing in an effort to reduce the spread of the coronavirus, reduced the consumers’ desire for physical airtime top up, in favour of safer contact-less options. Electronic airtime platforms have thus become more and more valuable in today’s life.
“NetOne has been pro-active on this front by providing innovative mobile-oriented solutions that create great experiences for customers.
“The organisation is currently on a drive to promote the use of electronic airtime across the market, in an effort to promote a more efficient and convenient way of accessing airtime without limitations,” she said.
“NetOne has employed various digitised airtime processes that allow for real-time distribution through multiple channels including web, SMS, USSD and application interface.”
Econet Wireless said it has already met the Reserve Bank of Zimbabwe deadline as it is already above 80% of the electronic airtime service platform.
“All mobile network operators were directed to reduce physical airtime sales to 20% of total airtime distribution by the end of January 2022 and to only 10% by the end of April 2022.
“The business is taking measures to address the limitations for customers that are not able to easily access virtual channels,” Econet said.
Telecel Zimbabwe said it already has technologies that support electronic airtime sales and a significant chunk of our airtime was being sold electronically before the directive.
“However, the directive requires huge capital injection in the form of foreign currency which is required to fund the system upgrades necessary for the system to be able to cope with the projected volumes of electronic airtime,” Telecel said.
The electronic airtime is convenient to the customers as they can buy airtime in the comfort of their homes at any time of the day.
