Zimbabwe: Q3 Telco Revenue Growth Belies Soaring Costs, Legacy Debt Woes
21 December 2020
ZIMBABWE S telecommunications industry reported a surge in revenues in the third quarter of 2020, but experts warn the sector is by no means out of the wood, amid rising costs and a huge legacy debt burden.
Statistics from the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), show mobile network operators revenues increased by 194 percent to $8,9 billion in the third quarter to September 2020, compared to $3 billion recorded in the previous quarter.
However, operating costs also rose significantly to $16.2 billion in the period under review, due to inflation and foreign currency exchange losses.
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