Techzim

Zimbabwe and regional technology news and updates

advertisement
advertisement

RECHARGE

Nyaradzo logo


Access Forex introduces Paytumi a remittance based investment service

Zimbabwe’s more understated remittance or money transfer service Access Forex, has announced the launch of a product that will allow those in the diaspora to invest back home. The service is called Paytumi and offers Zimbabweans living abroad direct access to products for building, farming, medical and other projects they may have in mind. At […]


Local software firm launches a core banking platform

Mugonat Systems Inc is a local software development and consultancy firm that provides enterprise software solutions, website services, mobile apps, e-commerce and chatbots. The company has announced that it has launched a core banking complement software called Cashlinq which it says was developed with the best technologies, security and international standards. The core banking complement […]


You can now collect Mukuru remittances at BancABC branches

BancABC has announced that you can now collect your Mukuru remittances at their branches nationwide. You can now collect your @mukurudotcom 💵 order at any @BancabcZW branch 🏦. Bring your National ID or Passport 🛂 and SMS received 📲 to collect you cash.💰 Collection is FREE! 😉 #Mukuru 💵#ATeam 😎 pic.twitter.com/sBWsjYobTw — BancABC Zimbabwe (@BancabcZW) […]


South African to launch a digital currency called the E-Rand, we have been having it

One of the most memorable ads from the last decade is, at least for me, the Vodacom “we have been having it” series of ads including this one. In them, an Id Amin inspired character expresses amazement that people are constantly praising (yep yep yeping) Vodacom’s features like custom ring tones and having up to […]


Zimnat partners with BancABC in their Gadziriro sign up drive

Recently I decided to have my own funeral policy cover for me and my family. For years, I am ashamed to say, I had been relying on my parents’ cover but the third wave of COVID-19 and my own personal health demons made me confront my own mortality and I decided to go on the […]


Socialite closes Gofundme campaign after it torched a storm on social media

Crowdsourcing is nothing new to Zimbabweans. Several famous fundraising pitches have been made over the years including one that raised close to $100 000 for Cyclone Idai victims. Medical appeals are also not uncommon with several cash-strapped Zimbabweans using the platform to try and raise medical fees for expensive medical procedures. The latest such medical […]


Want to know about Victoria Falls Exchange? Business Weekly is hosting a virtual panel discussion tomorrow

The Victoria Falls Exchange came about in the strangest possible way you can imagine. In case you have forgotten, it all started because the government, which keeps wanting to fix the exchange rate we use, did not like how people were relying on the so-called Old Mutual Implied Rate (OMIR). So they decided to remove […]


Monetary Policy Committee says Individuals can now transact up to US$50 per week via Bureau de Changes

These days the ZWL official rate is more or less stable and the government has also stopped rocking the boat with the rash policies like the infamous Statutory Instrument 127 of 2021. However, the Monetary Policy Committee which is responsible for crafting some of these policies is still very much in existence. Recently they met […]


The RBZ needs to scrap weekly and monthly limits for mobile money too

Yesterday there was a bit of a relief when Ecocash sent out an SMS announcing that transaction limits had been lifted from the paltry $5 000 ZWL per transaction up to a more acceptable $20 000. This was long overdue, the arbitrary limits were making life difficult for the bulk of transacting public out there […]


EcoCash transaction limits now ZWL20 000

The EcoCash transaction limits for all Payment services have been adjusted to ZW$20,000 per transaction up from the previous ZW$5,000 per transaction. This adjustment will be effective today, 25 August 2021 at 18:00hrs.


ZB Life is launching Enhanced Cash funeral plan

ZB Life today is launching Enhanced Cash funeral plan which supports both Zim Dollar and USD cash payouts. The additions to the Funeral Cash Plan includes: Memorial Cover offers a cash payout starting at ZWL50 000 to ZWL100 000 ZWL for beneficiaries and policy holder. Tomb stone & unveiling will offer a cash payout from […]


Full Text: Zimbabwe receives US$961 million from the IMF

The Zimbabwean government has officially announced that they have received almost a billion US dollars from the International Monetary Fund via the institution’s Special Drawing Rights (SDR). SDR refers to supplementary foreign exchange reserve assets that are maintained by the IMF and availed to member countries if they so choose. Zimbabwe will probably use the […]


InstaCash, a local app that allows you to lend & borrow through your contacts

The term “credit is king” is one that I have bandied about over the last year or so because as we wade through Zimbabwe’s never-ending economic struggles, lines of credit are valuable in order to make moves in this fast-moving digital age. Now, traditionally one would go to a bank or a microfinance institution to […]


Remittances up by 73% from the recorded figure this time last year!

Remittances look on course to breaking the US$1 billion and some change record that was set last year. According to the Reserve Bank of Zimbabwe’s (RBZ) Mid-Term Monetary Policy Statement, remittance figures are up by 73% at US$649 million from the US$374 million that was recorded over the same period last year. Inflows January to […]


RBZ to acquire a 15% stake in Zimswitch

The Reserve Bank of Zimbabwe (RBZ) today released the Mid Term Monetary Policy Statement which highlighted the events of the previous year and this one. In that statement, there was an interesting revelation. The RBZ has acquired or is set to acquire a 15% stake in the national payments switch, Zimswitch. “The Bank is proceeding […]


Flutterwave & PayPal waive international fees for African merchants

Flutterwave and PayPal are running a promotion aimed at encouraging African merchants to market their goods and services internationally. Under this promotion, Flutterwave merchants/users will be able to receive US$500 worth of receipts through PayPal for free. Normally, merchants are charged 4.4%+US$0.30 per transaction. Flutterwave has collaborated with PayPal to waive off charges on the […]


Zimswitch’s bulk payments solution ZEEPAY has resurfaced

In 2018, Zimswitch, at its Payments Conference announced that it would be bringing a bulk payment solution called ZEEPAY. The product builds off the immediate settlement services we all use by way of ZIPIT. So we can all get caught up here’s what Zimswitch’s ZEEPAY can do. ZEEPAY is a secure, cost effective and efficient […]


Netflix to pivot into games as it tries to beat saturation

I am sure you have had your fill of a priest and a rabbi walking into a bar jokes. Today I have something a little different. Have you heard the one where Netflix gets into mobile gaming, competes against Google’s Stadia and Nvidia’s GeForce? Well, it’s not a joke it’s real. Netflix has confirmed that […]


Eddie Cross: Zim should have a 5% transaction tax, halve PAYE & no company tax

I was joined yet again by Economist and former member of the Reserve Bank of Zimbabwe’s Monetary Policy Committee Eddie Cross to talk about financing a nation, tax collection and administration as well as electronic transactions You can play or download the podcast with the link below. Alternatively, you can download the podcast on WhatsApp […]


Econet Wireless Zimbabwe calls for early redemption of debentures

A few days ago Econet Wireless Zimbabwe (Econet) issued a notice to its debenture holders offering to redeem debentures it issued on 17 January 2017 early. This means instead of waiting for them to mature about three years from now, the holders of the debentures can have them redeemed now. The debentures have a market […]


How payment solutions are revolutionising WhatsApp and enhancing customer experience

The modern customer expects the process of engaging with a brand to be simple and easy. It is a long-accepted norm that the only way to achieve the level of service that delivers this convenience today is through digital channels. For this reason, organisations understand that they need to move with innovation in order to […]


You no longer need proof of residence to pay your DStv using Conticash

A few weeks ago we received some pleasant news, several Bureau de Changes were now allowing people to pay for their DStv using RTGS at the official rate. One of these exchanges was ContiCash who are part of the Conti family of fintech services that includes a money remittance service and a payment gateway that […]


Ecobank account-holders worry as the bank says it will be backdating collection of 2% tax

It has been almost three years since Finance Minister Mthuli Ncube introduced his much-hated 2% tax. It’s still not clear why the tax was introduced, so many reasons have been given, but it is now an accepted fact of our lives. Sometimes something outrageous concerning the tax happens however and people are forced to question […]


Thumeza, the local logistics startup that is a finalist in a US$750K accelerator

Thumeza, is a local startup that offers financing to small scale logistics operators. It was recently named as one of the 10 finalists for the Telecel Group under its Africa Startup Initiative Program (ASIP) and Startupbootcamp Afritech US$750K accelerator along with another Zimbabwean startup called Dawa Health. I got the opportunity to “virtually” sit down […]


Eddie Cross: I’m excited about the Zim economy

Today I was joined by the former member of the Reserve Bank of Zimbabwe’s Monetary Policy Committee, Eddie Cross. We explored the recently launched ZWL $50 note, the contrast in policy and environment from Rhodesia to present-day Zimbabwe. The forex auction system and if it has been a success, his current capacity in financial policymaking […]


Shumba Money removes fees & adds US$10 bonus for funds sent to Zimbabwe

Shumba Money has announced that it has cut all fees or transactions charges for anyone in the diaspora who wants to send money to Zimbabwe. Diaspora weeee this one is for you, send money for mahala to Zimbabwe!! Send at $0 transaction cost and on top of that your recipient receives $10 complimentary on your […]


New ZWL $50 note comes into the market almost valueless

Earlier this year, former member of the Reserve Bank of Zimbabwe’s (RBZ) Monetary Policy Committee Eddie Cross said that Zimbabwe will soon get a ZWL $50, $100 and $200 note. “The only new note which is due to come in shortly is the $50 note, and I’m not certain when that is going to be […]


RBZ introduces ZWL $50 note into circulation

The Reserve Bank of Zimbabwe (RBZ) has announced the introduction of the ZWL $50 (fifty dollar) note into circulation. “The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that the ZW $50 (fifty dollar) banknote issued on 6 July 2021 through Statutory Instrument 196 of 2021 will be introduced into circulation on […]


RTGS cutoff time revised because of new COVID-19 measures

On Tuesday President Emmerson Mnangagwa announced that the country would be moving to Level 4 lockdown measures because of the increasing numbers of COVID-19 cases. In line with the new restrictions, the cutoff time for RTGS transfers has been adjusted according to a tweet by NMB Bank. To our Valued Clients, kindly be advised of […]


ZSS outage affecting BancABC and others

Zimbabwe Shared Services (ZSS), is one of the country’s leading financial services provider. They offer services that range from e-banking solutions to cloud services. Basically, ZSS is a company that enables banks through providing technologies to meet customer needs and demands. ZSS, has in a statement, notified customers that a number of its services are […]