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Mobile Network Operators have recorded an increase of 103.9% to record ZWL$61.4 billion in revenue against ZWL$48.6 billion in operational costs.
According to Telecoms Regulator Potraz,the total mobile operator revenues grew by 1O3.9% to record ZWL61.39 billion, from ZWL3O.1 billion; whilst operating costs grew by 97.1% to record ZWL48.6 billion from ZWL24.7 billion.
The rise in expenditure has been a result of the inflationary operating environment, power availability and shortage of foreign currency.
“One main hurdle to overcome in the remainder of the year is the pressure on the profitability and overall financial sustainability of the sector. As this report has shown, although operating revenue increased in the third quarter of 2022, expenditure also rose across all subsectors,’
“Prioritisation of the sector in terms of government expenditure, power availability, protection against vandalism, resource mobilisation, and foreign currency availability amongst other issues, is pertinent,” said Potraz.
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