IGF News

Potraz surpasses revenue targets

ZIMBABWE’S telecoms regulator Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has surpassed its revenue targets for the first nine months of 2017 by 9,1 percent to $22,7 million against a target of $20,8 million, the company’s first ever annual general meeting heard last week.

The growth in revenue was a result of a 6 percent increase in mobile income that was not expected while additional spectrum fees also came from operators. Actual operating expenditure for the period stood at $12,8 million against budgeted expenditure of $19,8 million Potraz director general Gift Machengete said in a presentation. This left the group with actual closing retained income of $83 762 760 against a target of $101 802 664.

 He said the Universal Service Fund (USF), established with main intention of providing funding for extending communication networks beyond the borders of economic viability to reach marginalised communities in rural areas throughout Zimbabwe, brought in $11,5 million in revenues in the nine months under review against a target of $10,8 million.

In 2016, Government raised contributions for telecoms firms to the USF to 1,5 percent of gross revenues in 2016, up from 5 percent. The actual operating expenditure under the USF was only $459 282 compared to a target of $2,2 million while actual retained income was $26,1 million, double the budgeted $13,6 million.

Going forward Mr Machengete said Potraz’s strategic focus in 2018 is on the National Broadband Plan, an aggressive consumer awareness and education campaign, building more towers, promoting ICT innovation, ICT for the disabled, schools computerisation and tele-medicine. As commitment to consumer affairs, Potraz recently hired former NetOne public relations and special projects executive George Manyaya as its head of consumer affairs and publicity. Potraz board chair Ozias Bvute promised a satisfactory performance in 2018.

“ I would like to thank the whole Potraz family for this achievement indeed I’m really proud of the team . It has indeed been a challenging year but delivering a clean set of results is what our shareholder wants and we should strive to maintain this year in year out,” Mr Bvute told the AGM.

Source: The Herald