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Author: Tinashe Nyahasha


Victoria Falls Stock Exchange launching on Friday, Old Mutual will list there

So the Victoria Falls Stock Exchange, the one the government said was for companies to raise foreign currency capital is being officially launched this coming Friday. Its doors will open next week Monday. What we found to be interesting is that dual listed counters (you know those companies that are listed on the Zimbabwe Stocks […]


Both USD and ZWL at some Standard Chartered ATMs

OK, the Ministry of Finance and the Reserve Bank of Zimbabwe somehow still insist that Zimbabwe ‘has de-dollarised.’ They say the fact that you can pay for stuff in USD and that shops are required to list prices in USD alongside local currency is actually part of de-dollarisation. We don’t know what that’s about especially […]


The internet in Zimbabwe can still be shut down (probably will), the court ruling that outlawed it last time wasn’t enough

Zimbabwe is or maybe not at the brink of yet another massive demonstration by the citizens against the government. When this demonstration planned for tomorrow the 31st of July was being discussed on Twitter, I dismissed it as something that wasn’t going to happen. Well the government seems to believe the demos are going to […]


Econet and Cassava offices searched by police to ‘retrieve evidence of money laundering’

Former Higher Education (before that Information Minister), Jonathan Moyo has just posted a copy of a search and seizure warrant purportedly issued by a Magistrate’s Court to the Zimbabwe Republic Police (ZRP) against Econet Wireless. The former minster said the police are the Econet and Cassava offices right now (around 9PM on Friday 17 July […]


Businesses could get away with not paying VAT for USD transactions – Mthuli Ncube on it

As far as Mthuli Ncube is concerned it’s still not dollarisation even when civil servants will be paid in pseudo USD, even when businesses are now required to display prices in USD, even when government charges for services in USD and even when today he proposes that all VAT registered business configure fiscal devices to […]


2% transaction tax is coming to USD transactions

It was a matter of time wasn’t it? The 2% tax levied on all electronic transactions by the government is such a cash cow, it is not going anywhere. The only direction we should expect it to go is upwards or sideways. Today, in his mid term budget review the minister of finance has extended […]


Killing monopoly by creating a bigger monopoly, Zimswitch as national switch

Yes EcoCash is too dominant. It had above 98% share of all mobile money transactions in the first quarter of 2020 which translates to above 80% of all transactions in Zimbabwe period. The word monopoly is a fair one. The RBZ wants to do something about that Yesterday, Zimbabwe’s central bank issued a communique which […]


EcoCash is under threat – gvt to blame BUT underlying problem is EcoCash/Cassava/Econet

Yesterday a colleague mentioned that they were denied using EcoCash at a service station. All other forms of payment were acceptable except EcoCash. This didn’t surprise me. First let’s make sure those who have been living under a rock are caught up: On Friday the 26th of June 2020, the Government of Zimbabwe declared that […]


Pictures: Blood, Techzim, COVID 19, you

So, heads up! This is not a tech or business article. This is Techzim sharing its experiences with this valuable community. We hope you all can contribute in some way to meeting the need for blood if not by donating, then perhaps by making this a conversation in all places you have conversation. Alex, a […]


Confusion, contradiction, lies – Breaking down the ban on EcoCash and others

Of course we will keep going to town about the most stupid decision announced by the Zimbabwean government ever. Scrutinising the statement that announced the suspension of all mobile money and the Zimbabwe Stock Exchange word for word will give us volumes upon volumes to criticise. I’ll try to pick a few words to illustrate: […]


Kuhumana: Video of gvt official struggling to explain why they suspended EcoCash

Nick Mangwana, the Permanent Secretary in the Mimnistry of Information is the one whose signature was on the ridiculous statement that announced the ban on mobile money. Here is him tripping over his words to justify the move: The usual line about EcoCash regulation Mangwana is not the first government official to bring up some […]


Remain calm and keep transacting, EcoCash tells its customers

In a sudden and a hugely ill advised move, the government yesterday announced that they were suspending all mobile money transactions with immediate effect. As expected, EcoCash has responded. Here is their statement to their subscribers: Dear Valued Customers, We are aware of a statement purporting to have been issued by the Secretary for Information, […]


Civil Servants USD allowances, banks have a way out whether it’s fake money or not

So yes the Zimbabwean government promised that it will be paying its workforce a USD75.00 stipend across the board. And yes, no one believes the government will finance the accounts of these civil servants with real money. They printed US dollars (fake ones of course) before and they did it through the interbank settlement system. […]


Stop amending Zimbabwe’s Constitution – online petition gathers steam

A concerned Zimbabwean citizen has launched an online petition asking or demanding that the country’s parliament stops amending the constitution as they seem bent on doing. The goal for the petition which is on change.org is 2,500 signatures. At the time of writing it is already at almost 2,000 signatures. Why not just get it […]


The interbank forex rate will shoot through the roof, can the gvt/RBZ stomach it?

This coming Tuesday the 23rd of June 2020, the new formal trading of foreign currency via an inter-bank auction will kick off. This is the third time Zimbabwe is introducing such a market. In fact it’s just been 3 months since the Reserve Bank of Zimbabwe suspended the interbank forex market it had introduced a […]


The 7 maybe 8 forms of money in Zimbabwe as at June 2020

Zimbabwe is a curious country and sadly mostly for wrong reasons especially on the economic front. Things are so complex that there is almost a need for a manual to understand how money operates in Zimbabwe. There are two general classes of money currently: A. Funny money; B. Real Money. Funny money Zimbabwe has already […]


Businesses Now Required To List Prices In Both USD And Local Currency, A Practice Declared Illegal A Few Months Ago

Zimbabwean authorities should just make up their minds especially the central bank. This institution flip flops more than a pair of slippers that go by that name. Dual pricing Today the RBZ Governor issued a statement on the re-introduction of the interbank foreign currency auction. His statement concluded by saying: Dual Pricing SystemIn order to […]


The Interbank Foreign Currency Market Is Back

Well the government re-introduced the interbank foreign currency market early last year. The biggest problem with the market was that it was not a free market but it was influenced by the RBZ. However, it was the proverbial half a loaf that was better than nothing. In a sudden turn, the government then suspended the […]


Gvt Employees To Be Paid In USD, Just Call It Dollarisation Please

Minister of Finance, Mthuli Ncube and Reserve Bank of Zimbabwe Governor, John Mangudya keep insisting that Zimbabwe has de-dollarised and they get emotional (almost) when anyone suggests that we have dollarised again. I actually argue that we never de-dollarised at all since we went down that path in 2009. We were just robbed by the […]


RBZ Making Transactions Harder – They Will Achieve The Opposite Of What They Want

Zimbabwe’s central bank has made it hard for me to write of them in any positive light in a very long time. In recent weeks they have issued unilateral decisions that limit how we can use our own money. RBZ forbids you from buying a TV The central bank is so fixated on imposing limits […]


No Company Or Individual Should Do More Than 2 Internal Bank Transfers Per Day – RBZ

It keeps getting stranger by the day. Here is a circula sent to banks by the Financial Intelligence Unit of the Reserve Bank of Zimbabwe: 4 June 2020 Measures to prevent abuse of internal bank transfers for illegal foreign currency transactions Further to our circular to banks dated 26th of May 2020, titled “Enhanced Scrutiny […]


How Do You Feel About Techzim? Please Help Us

Hey, we are doing a product development exercise and we need your help. We need you to go through the following list of contrasting attributes selecting where you feel Techzim lies between the two extremes. The best way to fill this in is to quickly record the first thing that comes to mind. Don’t spend […]


EcoCash Customers Wake Up To Money Deducted Into A Strange Account

You remember when a good number of EcoCash customers woke up to messages that said they had successfully registered for EcoSure and so a dollar had been deducted from their wallets. That was strange because most of these folks had not tried to register for EcoSure! A repeat? Here is an example of what a […]


Hash Tag Charity: Companies Abusing Mbambaira/Bread Kid

All my colleagues disagree with me. You my reader will probably disagree with me. That’s OK, my hope is that we can debate this. I saw the excitement on Twitter several days after the kid had trended. If you’re like me and had not seen this before, let me take you through what happened: Enter […]


EcoCash Has No Right To Represent It’s Agents Before The Courts – High Court

So yea the urgent High Court application made by EcoCash to reverse a directive given them by the Financial Intelligence Unit of The Reserve Bank of Zimbabwe has been thrown out. The first stumbling block EcoCash fell on is that according to the court they had no skin in the game. The issue One of […]


Mangudya On EcoCash, Guerrilla Warfare, Demons, Prayer, Sodom And Gomorrah

The Governor of the Reserve Bank of Zimbabwe recently appeared before the Parliamentary Portfolio Committee on Budget and Finance. He used very interesting colourful words in his submissions. Guerrilla War Mangudya said: Whenever we put measures in place to make our economy grow, it seems there is asymmetric economic warfare, it is more like guerrilla […]


Breakdown Of 4 Charges Leveled Against EcoCash, Its CEO And The CEO Of Its Parent

The Financial Intelligence Unit has its daggers drawn against EcoCash. The unit’s Acting Director General wants his pound of flesh and he’s not taking any prisoners. Background Zimbabwe’s currency is tanking on the only market that matters in this country: the parallel market. This is not coming as a surprise to anyone except maybe the […]


EcoCash CEO & Cassava CEO Charged Under Anti Money Laundering Law

Here is a long letter charging EcoCash, its CEO- Natalie Jabangwe and Director (CEO of its holding company, Cassava Smartech) of crimes under Zimbabwe’s anti money laundering laws: OVERVIEW We write to advise you of the Financial Intelligence Unit (HU)’s intention to penalize: (a) Ecocash (Private) Limited (Ecocash); (b)Natalie Jahangwe, Ecocash Chief Executive Officer; and […]


Zimbabwe Printing And Pumping Money Into A Fragile Economy

The Zimbabwe ministry of finance and central bank have been promising more bank notes for some time now. Currently the only notes in circulation (besides the sometimes legal, sometimes illegal USD notes) are $2 and $5 notes which are worth about 4 and 10 American cents currently or 8 and 20 American cents respectively if […]


Both EcoCash And RBZ Are NOT Being 100% Sincere And Truthful

The fight between EcoCash and their regulator, the Reserve Bank of Zimbabwe is revealing if nothing more. Of course the current episode started with a directive from RBZ instructing EcoCash to freeze agent accounts that transact above ZW$100,000. EcoCash went to court seeking an urgent reversal, the RBZ responded and now we are here. Reading […]