NetOne, Zimbabwe’s second-largest mobile network operator, has reaffirmed its position as a major player in the country’s digital transformation efforts following the release of its 2024 performance report at the company’s 9th Annual General Meeting (AGM).
The AGM, held this week, highlighted notable progress in network expansion, revenue growth, and alignment with national development priorities. The company reported a 110% increase in data revenue, attributed to ongoing efforts to improve broadband access across the country.
NetOne expanded its infrastructure significantly in 2024, adding 86 new base station sites. Of these, 264 are LTE-enabled and 16 are 5G-ready. Every new site deployed now supports at least 4G, a move aimed at improving network speed and reliability in both urban and remote areas.
In his address, NetOne Group Chief Executive Officer, Engineer Raphael Mushanawani, said the company’s investments were aimed at “ensuring that no one is left behind in the digital economy.”
In addition to its commercial performance, NetOne reported several corporate social responsibility initiatives aligned with the United Nations Sustainable Development Goals (SDGs) and the country’s Vision 2030 and National Development Strategy 1 (NDS1).
Under SDG 4 (Quality Education), the company renovated five rural schools, including Nyamuroro Primary, and established computer laboratories aimed at enhancing digital literacy among learners.
In the health sector (SDG 3), NetOne upgraded clinics in Kwekwe and Chiweshe and established five telemedicine hospitals across five provinces to improve access to healthcare services.
Other initiatives included the distribution of sunscreen and lip balm to people with albinism, provision of sanitary products to adolescent girls (aligned with SDGs 5 and 10), installation of 16 solar-powered nutrition gardens, and the drilling of 20 boreholes nationwide, including in Gokwe Kana. The company also conducted 30 clean-up campaigns across the country.
Strong Financial Performance
The AGM also revealed a 62% year-on-year increase in revenue, largely driven by the growth in data and voice services. NetOne reported a 68% increase in earnings before interest, taxes, depreciation, and amortisation (EBITDA), signalling improved operational efficiency despite prevailing economic pressures.
The company attributed its strong performance to support from the Mutapa Investment Fund, an active board of directors, and strategic direction provided by its executive team.
Future Plans
Looking ahead, NetOne announced plans to roll out cloud-based enterprise solutions and expand into the Internet of Things (IoT) space. The company also intends to continue network deployments in underserved areas as part of its commitment to achieving universal access to communication services.
The AGM underscored NetOne’s evolving role from telecommunications provider to key enabler of national development. With a focus on digital inclusion, innovation, and community impact, the company is positioning itself as a leading force in Zimbabwe’s journey towards a connected and inclusive digital economy.
