Techzim

Zimbabwe and regional technology news and updates


CBZ system upgrades causing service disruption

CBZ Holding has released a statement addressing challenges their customers have been facing. The statement is as follows: CUSTOMER NOTICE To our Valued Customers,We would like to thank you for your continued support and advise that we are in the process of refining the system as we finalize the upgrade. As a result, please bear […]


FBC was listening, as Civil Servants can now convert USD allowance via USSD

The ladies and gentlemen over at FBC must either have an ear to the ground or they had this one in the pipeline. A couple of days ago we reported that FBC was making facilities available for Civil Servants to liquidate their US$75 allowance over WhatsApp and email. As progressive as those moves are they […]


FBC allowing Civil Servants to convert US$75 allowance via WhatsApp and email

The government some time ago announced that it was going to be giving it’s employees an allowance of US$75 a month. The allowance besides being insufficient was made worse by the news that this money was not going to come to civil servants in hard currency but will be converted to local currency at the […]


CABS launches a service to send money to any number, here’s why it won’t work

At first glance this looked rather interesting. A service that allowed CABS account holders to send money to any mobile money number. That initial excitement faded though as I went deeper into CABS’ new service Send-to-Cell. How does it work? As mentioned before CABS customer can send money to any mobile money number regardless of […]


State of mobile money in Southern Africa

Being a young Zimbabwean who holds no faith in our banking system – mobile money has been a big part of my life. Around 49% of Zimbabweans are registered with a mobile money service. 1 in 2 Zimbos is a significant number and this got me wondering – Is the story the same in other […]


Bankers Association of Zimbabwe has released a statement in support of the Forex Auction

The Bankers Association of Zimbabwe (BAZ), whose main mandate is to support the banking business of member banks, supports the Foreign Exchange Auction Trading System introduced by the Reserve Bank of Zimbabwe (RBZ) on 17 June 2020 and became operational with effect from 23 June 2020. The introduction of a Foreign Exchange Auction Trading System […]


Stanbic introduces QR Code payment solution, here’s why it won’t work

Stanbic has partnered with Slydepay to offer QR code payment to Stanbic Zimbabwe customers. Stanbic Bank say that their customers can download Slydepay app to access QR Code payments. What is Slydepay? Slydepay is a mobile money platform that was developed by a Ghanaian company called DreamOval Limited. Slydepay allows businesses and individuals to create […]


Zimswitch: a quick refresher on what it is and what it does

The Reserve Bank this afternoon issued a statement that made Zimswitch the national payment switch. This means that EcoCash will be relegated to just being wallet and will have to use Zimswitch as the universal transaction hub. Now, as more information about this comes out, and we see how EcoCash responds to this. Let’s have […]


EcoCash to become just a wallet, RBZ says everyone must connect to ZIMSWITCH

So this happened: DESIGNATION OF ZIMSWITCH TECHNOLOGIES (PRIVATE) LIMITED (ZIMSWITCH) AS A NATIONAL PAYMENT SWITCHIn accordance with the provisions of the National Payment Systems Act [Chapter 24:23] and the Banking (Money Transmission, Mobile Banking and Mobile Money Interoperability) Regulations, Statutory Instrument 80 of 2020 (the Regulations), the Reserve Bank of Zimbabwe (the Bank) wishes to […]


EcoCash & banks can’t magically create balances

A friend brought up a question recently, can’t a software developer at EcoCash just create a balance in their account. Then, said developer can go buy a shiny new Lamborghini Gallardo LP460? (I may be adding a bit of sweetening but you get the point). A soccer analogy Let us talk about soccer for a […]


Nedbank South Africa launches “tap on phone” contactless payment

Nedbank has launched “tap on phone” contactless payment. This feature was made to help small and medium businesses to convert compatible smartphones into “payment accepting devices”. Nedbank says that this feature was also motivated by the COVID-19 pandemic and the measures that individuals have to take while interacting in public. “The challenges presented by COVID-19 […]


RBZ to issue US dollar linked IOUs (bonds), don’t confuse them with bond notes

The Reserve Bank of Zimbabwe is, according to the Financial Gazette, to introduce United States Dollar linked Bonds. Now these aren’t to be confused with actual currency like that failed attempt to have a US$ placeholder they tried a few years back. These are bank bonds: “A bond is a fixed income instrument that represents a loan […]


CBZ capitalises on money transfer agent partnerships to open money transfer centre

CBZ over the last couple of years have been partnering up with money transfer agents. Western Union, World Remit, Money Gram, Mukuru, Express Links, and Hello Paisa money transfers can be collected from a CBZ branch. In light of this CBZ announced that their Robert Mugabe Street branch will now be a dedicated money transfer […]


ZB Bank Launches WhatsApp Banking Platform. Here’s How To Get Started

Barely 3 weeks ago we wrote about ZB Bank promising to launch a WhatsApp banking platform. Well, now it has finally launched it. https://twitter.com/ZB_Bank/status/1169522728954736645?s=09 Send “Hi” to ZB Bank’s WhatsApp number: 0731440440; to start accessing banking services. It’s that simple. Who can use it? Unlike Steward bank’s WhatsApp banking platform (Sosholoza) that can be use […]