Economy

First Capital Bank has announced the opening of a money transfer service. The bank partnered with Money Transfer agents RIA Financial Services, the 3rd largest remittance company in the world. Under what they are describing as an “exciting partnership” First Capital Bank will take advantage of RIAs 160 country & 385 000 location network. People […]

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 […]

POTRAZ Q2 2020 report is out and whilst the mobile money industry generally took a big hit, NetOne seemed to do exceedingly well in the same period. EcoCash (the industry leader) and Telecash lost 7.6% and 34% of their subscribers respectively. In the same climate, one would assume that OneMoney would also be struggling but […]

Forex auction results for 22 of September 2020 are in and the Zim dollar has continued it’s “upward” trend. The weighted average this week has made a small improvement from ZWL$81.7076 last week to ZWL$81.4965 this week. Full Forex Auction Results 22 September 2020 are as follows: SME Auction #8 Main Auction #14 Amount Allotted […]

The Forex Auction results for 15/09/20 are in and the Zimbabwe dollar has yet again seen an upturn. This week the weighted median average is ZWL$81.7076 which is a ZWL$0.9917 gain from last week’s rate of ZWL$82.6993. The climb is much more substantial than last week’s ZWL$0.6216 from the rate the week before which sat […]

President Mnangagwa recently addressed a ZANU-PF Committee in Gweru and in that address he spoke on the long-running feud between EcoCash and the state. The President had some interesting things to say about the mobile money operator which has been accused by the financial regulator and state officials of being behind runaway inflation. We realised […]

Zimswitch today announced a partnership with Mastercard that they say will “enable the modernization of Zimbabwe’s payment infrastructure”. Whilst Zimswitch and Mastercard are yet to announce any joint products/services, there are hints as to what they will be working on. Zimswitch issued a press statement on the partnership and some of the things they highlighted […]

The Zim dollar has for the second week in a row appreciated slightly. This week’s Forex Auction results show that the median average is ZWL$82.6993 against last week’s rate of ZWL$83.3209. Last week’s climb was by ZWL$0.0785, and this week there is a slightly more substantial climb of ZWL$0.6216 when compared to last week. The […]

We’ve been following the story of the Victoria Falls Stock Exchange (VFEX) with a keen eye, and the most recent update is that VFEX is now licenced by the Securities and Exchange Commission of Zimbabwe (SECZ). The Victoria Falls Stock Exchange Limited (“VFEX”) is pleased to advise stakeholders that it has been granted a license […]