Zimbabwe and regional technology news and updates



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ZIMRA’s portal is “undergoing maintenance”, the yearly tradition continues

No prizes for predicting this one because much like every year in recent memory the Zimbabwe Revenue Authority (ZIMRA) has announced that its online portal will be undergoing maintenance. This comes as the usual rush to acquire Tax Clearance certificates (ITF263) peaks as businesses seek to get it out of the way and stay on […]

RBZ is coming after businesses involved in currency manipulation

The Reserve Bank of Zimbabwe (RBZ) has in a tweet announced that it would start taking action against entities that are breaching the Bank Use Promotion Act and those that are involved in currency manipulation. This follows the Financial Intelligence Unit’s (FIU) investigations of entities that are allegedly committing these offences. The statement by the […]

Dr Mangudya graded by the Central Banker Report Cards

Update: The previous title of this article was “Dr Mangudya ranked worst Reserve Bank Governor” this was incorrect. The Reserve Bank Governor got a C-“ Global Finance has been publishing the Central Banker Report Cards since 1994. As you many have already guessed this is a school style mark for the world’s central bank governors […]

Zim would benefit from this Nigerian ethical debt-collection platform

In my travels on the internet, I came across a Nigerian startup called BFree that recently closed a US$1.7 million Series A round. It’s a credit management fintech that deals in ethical debt collection and it kind of took me aback because of my Zimbabwean sensibilities when it comes to borrowing. Debt, or chikwereti in […]

OK Zimbabwe & NSSA are offering Pensioners a 10% discount

Discounts have been a little obsession of mine over the last few weeks, mostly for USD purchases. Shops like TM Pick N Pay and TV Sales are trying to entice their customers to make purchases in hard currency in order to recoup the elusive USD. However this time there is a discount of a completely […]

Discounts for USD: a game of haves vs have nots

Discounts for USD purchases is a “hidden” business practice in Zimbabwe. Late last year we reported on TM Pick n Pay’s 50% discount for groceries bought with US$ and it looks like they aren’t the only ones doing this. We were out on the town this week and popped into TV Sales and we noticed […]

Zimbabwe’s Pay As You Earn (PAYE) Tax Tables explained

Pay As You Earn (PAYE) is a system that is used to calculate how much from your gross earnings your employer is going to deduct to pay the Zimbabwe Revenue Authority (ZIMRA) Income Tax on your behalf. The Income Tax Act [Chapter 23:06] specifies which parts of your salary as an employee are subject to […]

2022 ZIMRA PAYE USD and ZWL$ Tax Tables

The Zimbabwe Revenue Authority (ZIMRA) has released the 2022 Pay as You Earn (PAYE) tax tables for those who are earning in USD and in local currency. Zimbabwe Revenue Authority (ZIMRA) PAYE 2022 RTGS (ZWL$) PAYE 2022 Zimbabwe’s Pay As You Earn (PAYE) Tax Tables explained DAILY TABLE Rates from – to 821.92 multiply by […]

RBZ blocked funds as of 31st December 2020

Act No.7 of 2021 Finance Act revealed the Reserve Bank of Zimbabwe’s (RBZ) blocked funds balance sheet as of 31 December 2020 and private sector as of 25 September 2021. “Blocked funds” refers to money generated in a country by a foreign entity or project but can’t be paid pack immediately because of capital flow […]

2022 income tax brackets, presumptive tax and other adjustments

Act No.7 of 2021, Finance Act has revealed what the income tax structure in Zimbabwe will look like in 2022 “The Schedule (“Credits and Rates of Income Tax”) to Chapter I of the Finance Act [Chapter 23:04] is amended— (a) with effect from the year of assessment beginning on the 1st January, 2022, in Part […]

5 New Year’s resolutions for the Zim govt

It’s the first Monday of 2022 and we saw quite a bit from the government and its agencies in 2021. I am sure we can all recall SI 127 of 2021 that was the latest attempt at price control even though most Zimbabwean businesses don’t have access to the Forex Auction. SI 89 banned the […]

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 […]

FINSEC launches a private funding platform for businesses of any size

The Financial Securities Exchange Limited (FINSEC) has launched a private funding marketplace called FINSEC Private Markets. The platform comes in the wake of FINSEC’s other funding offering called the Growth Enterprise Market (GEM) Portal which was introduced back in 2020. The GEM portal was designed to help small to medium enterprises find financial backing as […]

InnBucks to become more compelling domestic remittance provider with 92 new outlets in 2022

I have been enjoying the domestic remittance battle taking place. It seems there is a new player joining the fight every week. Meaning we could already have too many eaters and not enough pie.  It is a weird battle though, because we seem to have come full circle. We had solved this local remittance puzzle, […]

Monetary Policy Committee: Last forex auction of the year on 14/12/2021

The Reserve Bank of Zimbabwe’s (RBZ) Monetary Policy Committee (MPC) convened last Friday to deliberate on the state of economic policy. Below is the statement on the findings of the RBZ’s Monetary Policy Committee. PRESS STATEMENT RESOLUTIONS OF THE MONETARY POLICY COMMITTEE MEETING HELD ON 3 DECEMBER 2021 The Monetary Policy Committee (MPC) of the […]

Access Forex launches remittance USSD for Zimbos in SA amid lockdown fears

Local remittance service, Access Forex has announced that it has launched a USSD for Zimbabweans living in South Africa to be able to send money over the Christmas period. The move was motivated by the Omicron variant of the Coronavirus Pandemic which many fear could see the return of harsher lockdown measures. “Using *134*3042#, it is […]

Zimbocash now has mobile app and they also rolled out 2FA

Zimbocash, the company that is pushing to be Zimbabwe’s “sound money solution”, has finally launched a mobile application on Android. The launch of the app has taken a bit of time and was something that I thought might be a bit far off after the crypto went down last year because the team at Zimbocash […]

OneMoney launches domestic remittance service: everyone wants a piece of this industry

The domestic remittance game in Zimbabwe has become a little crowded of late. Just a couple of weeks ago, Trolleycom launched a city to city money transfer service called MojoMula which followed BancABC’s City Hopper, NBS’ Instant Cash, Access Forex, Steward Remit and the most popular service on the market, Mukuru. Well, it looks like […]

[Download] The 2022 National Budget Speech

The Minister of Finance, Prof Mthuli Ncube, this afternoon delivered the National Budget Speech for 2022. You can download the full Budget Speech delivered by the Minister with the link below: Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney number: Buy Please dial our USSD code *405# […]

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 […]

Govt gives RBZ money to clear Forex Auction backlog

The Reserve Bank of Zimbabwe (RBZ) has, in a statement, said that the govt has provided them with funds to clear the Forex Auction backlog. CLEARANCE OF THE RING-FENCED BACKLOG OF FOREIGN EXCHANGE AUCTION ALLOTMENTS Further to previous communication that Government would be providing funds to clear the ring-fenced backlog of foreign exchange auction allotments, […]

Zim govt looking at central bank digital currency, what is that and why won’t it fix our problems

For a brief period of time, it appeared the Zimbabwean govt was going to adopt cryptocurrencies into the economy and that had us salivating a little. They then yanked that rug from beneath our feet. Turns out they are looking at Central Bank Digital Currencies (CBDCs) and those are infinitely less exciting for us. We […]

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 — NMB Bank Zim […]

MojoMula, the newest city to city money transfer service

Remittances or money transfer services are big businesses in this dollarisation 2.0 era. International incomings have been impressive with 2020 posting the best figures the country has ever seen and 2021 looking to surpass that record. On the domestic front, there have been players who have sprung up here and there with BancABC’s City Hopper […]

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 […]

Mama Money: the social impact money transfer service

Remittances or money transfers are big business these days, especially during the COVID-19 pandemic. There were projections in early 2020 that forecasted a dip in remittances but the opposite was the case as saw last year Zimbabweans in the diaspora sent back US$1 billion which was a record sum. 2021 looks to be picking up […]