Business

Econet hike tariffs

Econet Wireless has increased its tariffs effective from tomorrow.

In a statement, the telecommunications company said it had raised its tariffs by 61% in line with the regulatory approvals by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz).

The new tariffs for voice calls will be $0,4325 per second. For data, Econet will charge $4,1036 per megabyte and $5,3309 for every SMS.

This comes as State-owned fixed telecommunications company TelOne also recently increased its rates by the same percentage.

The development will put further strain on customers who rely heavily on data services to conduct business and whose incomes have been severely eroded by galloping inflation which stood at 285,02% for the month of August.

In a recent update, Econet company secretary Charles Banda said the total increase will be staggered over three equal monthly instalments.

“The telecommunications sector was granted a staggered tariff adjustment by the regulator of 61% in July 2022, and a further 61% with effect from September 1, 2022, and a further 61% with effect from November 1, 2022,” he said in the company’s financial update for the first quarter ended May 31 2022.

“The tariff adjustments will cover voice, SMS, data and internet services and are determined in the local currency.”

Telecommunication companies have bemoaned that the tariffs are inadequate and a threat to their viability.

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