Telecoms revenue jumps 295%
BUSINESS REPORTER
Zimbabwe’s postal and telecommunications sector reported a 295.1% revenue increase in 2022 to ZWL$428.7bn from ZWL$108.5bn achieved in 2021 despite a rise in costs, a Postal and Telecommunication Regulatory Authority of Zimbabwe (POTRAZ) report shows.
Total costs rocketed 323.3% during the period under review to ZWL$278.1bn from ZWL$65.7bn reported in 2021.
Capital expenditure stood at ZWL$28.3bn in 2022 compared to ZWL$5.1bn, reflecting a 454.9% increase.
“The year 2022 was characterised by a trend of growing revenues, amidst rising operating costs across all subsectors, owing to the inflationary economic environment. Total postal and telecommunication sector revenue for 2022 was ZWL$428.7bn, up from ZWL$108.5bn recorded in 2021. This represents an annual variance of 295.1% and an inflation adjusted growth,” part of the report reads.
The total number of fixed telephone lines increased by 6.5% to reach 291,324 from 273,431 recorded in the previous year due to fixed VoIP active subscriptions, which increased by 36.3%.
“The total number of active fixed telephone lines increased by 6.5% to reach 291,324 as of 31 December 2021, from 273,431 recorded as of 31 December 2021. Growth was recorded in fixed VoIP as well as PSTN active subscriptions.”
The group also recorded an increase of 4.1% on the number of active internet and data subscriptions from 9,526,421 to 9,914,950.
POTRAZ said the number of people employed on a fulltime basis in the postal and telecommunications sector increased by 1.7%, to reach 5,883 from 5,786 people employed prior year.
The fixed network generated total revenue of ZWL$39.6bn in 2022.
Internet Access Providers generated a total of ZWL$111.3bn in 2022.The number of base stations increased to 9,985 from 9,312.
