Techzim

Zimbabwe and regional technology news and updates

advertisement
Nyaradzo logo


Giving Zim’s prepaid USD cards the Tinder treatment

Prepaid USD cards are one of the easiest ways to start buying goods and services online, especially now that the United States Dollar is legal tender. There are a lot of cards available these days with almost every bank having one either handled by Mastercard or VISA. We have been inundated with questions about which […]


Diasporans, you can open a bank account at the airport/border, no branch needed

I might be preaching to the choir here but it has to be said for those who aren’t familiar with the financial gymnastics that are happening between the Zambezi and Limpopo. Zimbabweans living abroad come home periodically, this might be graduates who have finished their studies, those on the end of academic year break or […]


The alleged culprit of BancABC’s crazy prepaid Visa outage is now in court

Remember back in late October when BancABC’s Prepaid Visa was down for everyone and for days on end? The outage that stranded everyone who used the card domestically and abroad? Well, it looks like the authorities have found the person who was behind it. According to a report by ZimLive, Malvin Kudakwashe Serima appeared in […]


Pick n Pay’s 50% discount for USD: killing the black market without an SI

TM Pick n Pay is giving a 50% discount for goods bought in its store in USD. I first noticed this when I was at Pick n Pay Westgate and saw the 50% discount sign on the exchange rate noticeboard. I asked the till operator and was told that I would get half off if […]


Why does CBZ have a monopoly on e-passport application fees?

Zimbabwe’s is finally making the switch to e-passports after more than 20 years when the technology was first deployed in Malaysia in 1998. I and many others don’t have too much of an issue with the change from a security standpoint. Zimbabweans will be able to access Automated Border Control terminals and home and abroad. […]


Zim banks villains again, too eager with bank charges on civil servants’ bonuses. Fair?

Banking in Zimbabwe is upside down. This is something we have talked about multiple times. Zimbabwean banks are so risk averse they will do absolutely anything before they try core banking activities. Now, we reach a point where the Ministry of Finance has to demand that they ease up on the charges. What have they […]


CBZ Touch and Smartcash are currently unstable

If you’ve been trying to use CBZ Touch or a Smartcash card to transact and facing challenges, it’s not you. CBZ has sent out messages informing their customers that they are aware of the problem and are working to restore normal service. The message reads: Dear Partner, CBZ Touch & Smartcash card transactions are currently […]


Stanbic Bank says it has launched one of the biggest loyalty programmes in Zim

Stanbic Bank has announced the launch of one of what it says is the largest banking loyalty programmes in Zimbabwe. The PlusRewards programme, which will be launched today (1 December 2021) is aimed at supporting and enabling economic growth by providing Stanbic Bank merchants with a loyalty mechanism to drive customer engagement and ultimately additional […]


CBZ Bank launches “50% of your salary” Black Friday loans

The Commercial Bank of Zimbabwe (CBZ) announced that it would be introducing Black Friday loans to its customers. There is no denying that Black Friday is one of the most anticipated time for customers as it gives them an opportunity to fulfil their shopping desires that range from home furniture to the smallest apparel that […]


NMB is phasing out its old Access Debit Card at the end of the year

NMB Bank has announced that it will be phasing out its old NMB Access Debit cards at the end of the year. The switch is meant to usher in the use of Chip and Pin Cards only from 2022 onwards. Important Customer Notice: Introduction of Chip and Pin Debit Cards pic.twitter.com/Q0hkFrof7q — NMB Bank Zim […]


Here are the winners of MyCash’s Swipe and Win promotion

MyCash Financial Services held a Swipe and Win Promotion and on Friday 12 November 2021, the winners of the transaction based promo were announced. THE WAIT IS OVER 🚩 Today is the day for the MyCash Swipe & Win Promotion Grand Draw & we will be announcing our final 3 winners. Stay tuned for more […]


Stanbic partners with 2 Chinese firms to boost access for its import clients

Stanbic Bank Zimbabwe has announced a partnership with Industrial Commerce Bank of China (ICBC) and Chinese trade agent Zhejiang International Trading Supply Chain Co. Ltd which the bank says will open doors for Zimbabwean businesses to import quality goods from China. The Partnership which is called “Africa China Import Solution” will see Stanbic Bank provide […]


As ZB Financial Holdings celebrates 70th anniversary, learn about their history

ZB Financial Holdings is celebrating 70 years in business. That is quite the milestone, especially in Zimbabwe where we have seen a significant number of banks rise and fall. ZB has weathered hyperinflation and the other unique challenges the Zimbabwean economy has presented and stands today to tell the story. In his speech celebrating the […]


BancABC VISA card services “partially” back online after a days-long outage

BancABC has had some serious issues with its Visa services. On the 25th of October, BancABC said on Twitter that its Visa card services were down and the outage continued until Friday according to a statement put out by BancABC CEO Dr Lance Mambondiani this afternoon. In the last few days we suffered a serious […]


Nedbank Zim sponsors first Uncommon.org innovation hub to happen outside Harare

Nedbank Zimbabwe has partnered with Uncommon.org to support the organisation’s first innovation hub to take place outside Harare. “We are absolutely delighted to partner with Nedbank Zimbabwe to launch our first Innovation Hub outside of Zimbabwe’s capital city, Harare. The Nedbank Innovation Hub is located in the Emganwini township, not far from Bulawayo’s city centre […]


Telecash & OneMoney are still issuing high-risk magstripe cards

As far as I know, I have never owned a Telecel line and seeing as y’all were upset that I was “bashing” the country’s smallest mobile network operator for its 15% Teleceash bundle discount, I’ve decided to become a Telecel subscriber. Getting the line was simple enough and it’s cheaper than getting an Econet line […]


BancABC’s VISA card services have been down for 48 hrs

BancABC’s has been struggling with its VISA platform over the last couple of days. On the 25th the Atlas Mara financial institution announced that it was facing some nondescript challenges with its VISA card platform. Please be advised that our Visa card services are currently not available 😔. We sincerely apologize for any inconvenience caused. […]


Stanbic is offering home loans for Zimbos in the diaspora

Stanbic Bank is committed to playing its part in assisting Zimbabweans in the diaspora to build and own houses back home through its mortgage finance facility tailor-made for people living abroad. The facility called “Diaspora Home Loans” is part of a wider mortgage finance plan by the financial services institution whose goal is to ensure […]


Steward Bank’s new local remittance service is charging 2%!

EcoCash Holdings Zimbabwe’s banking division, Steward Bank, has joined the local remittance or money transfer game. At this point, it’s hard not to assume that the folks over at Steward saw the success of City Hopper and decided to get in on the action. In their defence, the market is there and the pie is […]


BancABC first bank to benefit from Mastercard & ZimSwitch partnership

Late last year ZimSwitch announced that it had partnered with Mastercard to “enable the modernization of Zimbabwe’s payment infrastructure”. The collaboration between the two set out to offer embossed cards, digital payment solutions, a loyalty platform, fraud and risk management and much more. After more than a year of silence, we have finally seen what […]


Stanbic Bank avails US$21.6 mil loan for Beitbridge Border Post project

Stanbic Bank and its parent company, Standard Bank Group recently availed a USD21.6 million loan facility for the sprucing up of the Beitbridge Border Post and its environs. The loan facility was availed to a concession holding company Zimborders Mauritius (Zimborders) towards the rehabilitation and modernisation of Zimbabwe’s side of the Beitbridge Border Post as […]


RBZ to clamp down on ZW$ card swipe for USD money changers

The Reserve Bank of Zimbabwe’s (RBZ) Financial Intelligence Unit (FIU) has put out a directive for banks to report those who are using local currency card swipe transactions to facilitate illegal USD exchanges. The statement by the FIU on card swipe for USD forex deals is as follows: ABUSE OF DEBIT CARDS TO FACILITATE ILLEGAL […]


NBS Bank offering USD500 for school fees and professional exam fees at auction rate

National Building Society (NBS) Bank has a facility that is offering up to USD500 for school fees at the auction rate. This program is being done through the Bank’s Bureau de Change licence and here’s how you can get started. First, you’ll need to bring an invoice from your child’s school (or for your own […]


Steward Bank results: Auditor questions bank’s ability to continue in business

Steward Bank recently released its financial statements for the year ended 28 February 2021. Pouring through the abridged version of the audited accounts raised a few questions. At first glance it appears that Steward Bank might be in trouble. The first strike was that the audit opinion was qualified. Those that have a background in […]


Steward Bank adds Senditoo & Thunes as money transfer partners

EcoCash Holdings Zimbabwe’s banking division, Steward Bank, has announced that it has partnered with international money transfer or remittance services Senditoo and Thunes. The partnership is to further expand the bank’s footprint in the remittance space. As I am sure you are all aware, remittance figures have been at heights never before seen (US$1 billion […]


Standard Chartered Zimbabwe wins best digital bank for 2021

Global Finance Magazine named Standard Chartered Zimbabwe as the best digital bank in the first round of its annual Best Consumer Digital Bank Awards for 2021. Other categories in the first round included Best Corporate/ Institutional Digital Banks and the Best Islamic Digital Banks at the country level. Winners were selected in Africa, Asia-Pacific, Central […]


All remittance companies that operate in Zim service fees compared

Remittances continue to be on the rise even though there is a global pandemic. Last year money transferred to Zimbabwe through money transfer agents was just over US$1 billion. Now, there are a number of services both for Zimbabweans in the Diaspora to send money back home as well as for locals to send money […]


Dear government, threats make people mistrust the system more

Recently stakeholders in Zimbabwe’s health sector shared some concerning but not unexpected tidbits about Zimbabwe’s auction system. They said that it takes up to 10 weeks instead of the promised 24-48 hours for beneficiaries to receive their allocations. This naturally had negatively impacted their operations. Instead of listening to these and other concerns about the […]


FBC bank has increased Civil Servant loan limits

FBC Bank announced in a tweet that it has revised local currency loan limits and terms. Customer Notice: Increase in short term loan limits. pic.twitter.com/6sMlprSytj — FBC Holdings Limited (@FBCHoldings) September 16, 2021 “We are pleased to advise of an upward review of personal salary-based loans limits for civil servants and approved Deduct At Source […]


BancABC’s City Hopper has processed over US$10 mil in a year

BancABC today held a one-year anniversary celebration for its domestic remittance service City Hopper via Twitter Spaces. The talk was more of a victory lap and that isn’t to say it isn’t warranted. City Hopper has had an incredible year for a fledgling money transfer service. According to BancABC, they were able to move over […]