Zimbabwe: NetOne Introduces Zero Rate Transaction Charges
Telecommunications giant NetOne has announced that its mobile financial arm, OneMoney will from now until 31 December 2019 have zero rate transaction charges outside of the 2 percent government tax.
Given that society has become reliant on mobile financial services for ease of transactions and payment solutions, the announcement has brought joy and relief to Zimbabweans who have been finding it difficult to access hard cash.
“This past month after being advised by a friend, I was able to pay my company taxes and returns using my BP number as a reference to ZIMRA through OneMoney. The process is simple and convenient as I did it from the comfort of my office and received confirmation. This is a welcome development for me, as a business person as it leaves me with more time to concentrate on my operations.” said small to medium enterprise businessman Smart Bwerinofa.
OneMoney is now supported by the robust distribution channel in place, which includes 36 NetOne shops, 1000 franchise shops and over 5 000 Agents who are equipped to register and activate all NetOne lines and OneMoney accounts.
In addition, OneMoney has partnered with microfinance institutions, Zimbabwe Women’s Microfinance Bank and FMC Finance to avail short term loans.
The facility rewards customers who have been on the OneMoney platform for more than three months with a usage-based short-term loan of 30 days, ranging from between 150 to 500 RTGS. The usage pattern also increases the short-term loan by 10 percent for each application after successful repayment.
Contacted for comment, NetOne chief executive officer Lazarus Muchenje had this to say; “As NetOne, our mission is to transform and develop communities through communication solutions and OneMoney is a key enabler towards the achievement of that facet. Our products and services under OneMoney offer simplicity and convenience for individuals, SMEs and large corporates throughout Zimbabwe.”
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