According to the company, US$1,7 million was invested in generators and the introduction of smart batteries to power off-grid base stations, addressing power outages and minimising downtime to ensure uninterrupted service delivery.
In addition to tackling power challenges, NetOne allocated significant capital expenditure to upgrade its network infrastructure.
This included US$4,8 million directed towards core network upgrades and US$600 000 invested in Home Location Register (HLR) equipment.
Other notable investments comprised US$510 000 for firewall services, US$423 000 for server upgrades, and US$230 000 for USSD disaster recovery, while US$17 000 was spent on acquiring network routers.
A further US$2,2 million was channelled into upgrading the billing system, aimed at enhancing the efficiency and reliability of the company’s financial operations.
These investments underscore NetOne’s commitment to strengthening its infrastructure and meeting the growing demand for data services.
As subscribers increasingly adopt cloud-based communication tools and video conferencing, the company is positioning itself to meet evolving customer needs and remain competitive in a rapidly changing digital landscape.
Speaking at the 2024 annual general meeting, NetOne chief executive officer Raphael Mushanawani said the company continued to modernise its network systems to ensure seamless data provisioning. “NetOne continued modernisation of the whole network systems to make sure that provisioning data is smooth.
We managed to build 259 new LTE sites and upgraded 500 to the latest technology, and also continued the modernisation of core network systems.
In terms of operational efficiencies, we saw the digitalisation and automation of internal processes,” said Mr Mushanawani.
The growing adaptation of technological advancements and digital transformation by organisations is expected to sustain demand for ICT solutions throughout the year.
This shift is projected to create a positive growth environment for the local telecommunications sector, driving demand for innovative services critical to new-age business opportunities.
The anticipated growth is likely to open up opportunities for indigenous telecoms companies in the short to medium-term, particularly in areas such as cloud computing, artificial intelligence, big data analytics, and Internet of Things (IoT) solutions.
NetOne recorded significant growth in both voice and data traffic, with voice reaching 1,5 billion minutes and data traffic ending the year at 71 terabytes — a substantial increase from the budgeted 11,3 terabytes.
This performance highlights the company’s success in driving usage and adoption of its services, especially in the data segment. “Subscribers are increasingly using cloud-based communication tools and video conferencing, reducing reliance on traditional mobile voice calls, hence the growth in data revenue.
This is in line with global trends,” said Mrs NyashaNyambuya, NetOne’s chief finance officer.
As a result, the company’s revenue saw a notable 62 percent year-on-year increase to ZWG$3,7 billion in 2024, up from ZWG$2,3 billion in 2023.
This growth was driven by a 110 percent surge in data revenue and a 30 percent rise in voice revenue.
However, operating costs rose by 73 percent, outpacing revenue growth.
Additionally, the company incurred total foreign exchange losses of ZiG$11,4 billion due to exchange rate fluctuations during the year.
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