Techzim

Zimbabwe and regional technology news and updates

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Everything Happening Now All Happened Before In 2008…

Though it’s almost 10 years ago the memories of 2008 are as clear as day to me. I was in a technical college at the time and needed to sit for my National Diploma that I assumed would be the key to opening many doors for me. Sadly, due to the ferocious economy at the time I […]


Breaking: Barclays restricts use of Visa cards with immediate effect

Barclays Bank, one of the only two banks we know about that still allowed spending on debit cards outside the country without USD cash pre-funding, has just announced some changes. It won’t anymore. Or, to put it more accurately, customers will need to have such spending approved by the bank beforehand. Here’s the announcement the […]


Standard Chartered to carry out a systems upgrade over the weekend

Just in case you missed this; Standard Chartered is carrying out a systems upgrade from Saturday the 4th of November 2017 to Sunday the 5th of November 2017. All Standard Chartered branches will be closed during this period.  However of the two days, ATMS will only be unavailable on Saturday from 0400 hrs to 1800 […]


Zimbabwean Bitcoin Exchange Golix Processes $1m Monthly. Now Profitable

Over the last few months as the cash crisis in Zimbabwe continues to persist the appetite for cryptocurrencies, Bitcoin included, has increased 4-fold. Zimbabwean cryptocurrency exchange Golix.io has announced that from its seemingly ambitious targets of wanting to process $1m worth of transactions in total historic value, that in the month of October 2017, the exchanged handled […]


About the delayed completion of CABS system upgrade; and a note to all e-money platforms

Now that the government has become clear about not giving ‘non-exporters’ cash, the need for reliable electronic banking systems skyrockets – after all, the bulk of us are ‘non-exporters’. A cashless society can be achieved, only if trust comes into play. Unfortunately, trust is not something we have in Zimbabwe, we have become a broken […]


BREAKING NEWS: Stanbic Bank Reduces Visa Limits Again In Less Than 2 Weeks

In less than 2 weeks Stanbic Bank has announced that they will be further reducing their Visa card payments to $100 until the end of the month. This is effective immediately and the bank also announces that come 1 November one will have to make prior arrangements with the bank. Just 13 days ago, the […]


Which Bank Cards Are Working To Make Online Payments In Zimbabwe?

This post has been coming for the past year, as the goal posts have been continually changing. One minute your card can make online payments for $5,500, the next it’s reduced to $1,100 and before you can say “bond notes” it’s reduced further to $500. While it will go on to change a bit eventually being […]


Banks To Stop Cash Withdrawals? Why This Is A Race To The Bottom…

Just picked myself up from the floor when I read this article on a Zimbabwean daily print newspaper that states that Zimbabwean banks have resolved not to issue cash to non-exporting customers. So the Head of the Bankers Association of Zimbabwe came out and said this at a recent event (emphasis mine): For people who […]


How To Get A 41% Discount On Airline Tickets In Zimbabwe…

The price of bitcoin in Zimbabwe is significantly higher than it is in other places around the world, so if you want to buy something outside Zimbabwe that has a similar price in Zimbabwe, then you can take advantage of the difference in the price of bitcoin between the two countries, to get a discount that is proportional […]


Stanbic Revises Foreign Card Payment Limits

Just hours after Steward Bank announced that their MasterCard Debit Cards can only be funded by USDs yet some other bad news comes. Stanbic Bank has announced that their foreign card payment limits have been revised down. Tweeted Stanbic Bank Zimbabwe, Our foreign card payment limits have been revised to $500, $1000 & $1500 per […]


BREAKING: Steward Bank Now Only Takes USD to fund MasterCard

In what is becoming a barrage of bad news Steward Bank has the latest blow. The Bank announced back in August that they were implementing international limit restrictions on Steward Bank MasterCard Debit cards.  Back then the bank announced that customers will only be able to access value on the debit card against pre-funding in foreign currency […]


EcoCash guarantees USD plus an extra 7% incentive for receiving money from the diaspora

Like I said, I’m on a roll to help you save money. Actually, maybe we should call it the #cheapskate series, what do you think? 😉 Anyway, so EcoCash enables you to receive money from the diaspora in USD through the EcoCash Diaspora service. The sender however has to send the money any one of […]


Yet another cash vendor arrested, Operation Dzosai Mari firing on all cylinders

Late last month the government made cash vending without a proper licence illegal. The Exchange Control Act was amended to empower the police to arrest illegal forex traders and seize whatever currency in their possession. If you still want to be a money-changer you have to obtain a licence. The RBZ shared what you have to do […]


ZB bank and CABS customers, here’s what you need to know before end of day (13/10/17)

There has been two announcements from CABS and ZB bank. Both are warning their customers (or whoever might need to use these banks) that their systems will be under upgrade, hence service disruption. Here’s more detail for each. CABS From 2000hrs today i.e. Friday the 13th (you know what they say about this day) to […]


Video: No more international payments via EcoCash… unless you have USD

  As Zimbabwe’s cash crisis worsens, the country’s top mobile money service, EcoCash, has announced that EcoCash that it will no longer be processing international payments unless subscribers pre-fund their wallets with physical United States Dollars: Read more here. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney […]


“We’ve Never Accepted Payments” Says Multichoice Zimbabwe…

Over the last couple of weeks, Techzim has commented a bit on the cash crisis and how it affects various players in the economy, though of great interest to us has been DStv. It’s entertainment ka! Anyhow, we’ve commented from an angle as if the satellite media provider once used to offer a means for […]


BREAKING NEWS: Ecocash Suspends International MasterCard. To Reintroduce It Funded By USD’s Only

Mobile money payment solution Ecocash has sent out an announcement that they have suspended international transactions on their MasterCard debit card with immediate effect. It is not all doom and gloom though as they reassure people that come November 1, 2017, they’ll be back up and running, though you’ll need to pre-fund that card with […]


CBZ Touch Pulls The Plug On DStv Payments…

There are a limited number of options of how one can use money in their bank accounts to pay for their DStv subscriptions. Among that list, you won’t be seeing CBZ’s Touch as an option any longer. Effective immediately CBZ have stopped the processing of DStv payments using their mobile money solution most likely to […]


iPhone X Coming To Zimbabwe. Get Your Kidneys Ready…

Apple iPhones have been known to cost an arm and a leg in Zimbabwe. When the price of the iPhone X was gained by Techzim recently, after picking ourselves up from the floor, we realised that maybe, just maybe, this was a phone not for us. Scheduled to launch on 3 November, 2017 around the […]


Sick of retailers refusing modes of payment other than cash? RBZ shares what we can do about it

The RBZ says it has come to their attention that certain retailers and traders of goods and services are refusing to accept modes of payment other than cash. I do not know exactly when it is that it came to their attention but kudos to them for this world class detective work. I mean it’s […]


So you want USD at 1:1 to the bond note, RBZ says go to these places

If you remember, last week the government made it illegal to trade in foreign currency without a licence. Statutory Instrument 112A of 2017, Exchange Control (Amendment) Regulations 2017 (No 5) has led to many people being arrested for dealing in foreign currency without a licence or dealing through unauthorised persons. The RBZ maintains that this is to […]


“We notified people” says Steward Bank CEO

The day before yesterday, Techzim wrote about how Steward Bank had gone exclusive with mobile and online banking and was no longer processing manual RTGS or Internal transfers. When that article was written, we were using the information that we had obtained ourselves. One of the Techzim members had gone to the Avondale branch of Steward […]


$1.5m loan facility availed to SMEs by Homelink

Homelink, the Reserve Bank of Zimbabwe (RBZ) subsidiary has availed a $1.5m loan facility to small to medium enterprises (SMEs). The loan was availed to the Small to Medium Enterprises Development Corporation (SMEDCO) to forward on to SMEs. SMEDCO was established to champion economic growth by promoting and developing Micro, Small and Medium Enterprises through […]


Let’s take a look at types of investors

In this segment we look at the types of investors. Are you an analytic or a fundamental investor? What IS a fundamental or an analytic investor? Let’s find out! Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney number: Buy Please dial our USSD code *405# on your […]


CABS Responds To Local Currency Questions, Sheds Light On What Is Meant By Local Currency

Earlier this week Techzim published an article directed at CABS, seeking clarification on some new headings on their online portal. This was after some CABS customers reached out to us worried after they noticed a new subheading titled ‘Local Currency Account’ on their online portals. Naturally people were worried about that ‘Local Currency’ subheading and […]


Hey CABS, do we have a local currency? We were under the impression we did not

A certain CABS customer logged into their account today like they always do, to check on them incomings and whatnot. There was the familiar ‘Good afternoon’ and ‘Welcome back.’ All was well. However, upon closer inspection they realised something strange, something that was not there before. Instead of going straight into the balances on the […]


Mangudya lied, he’s the one to blame for cooking oil shortage says the manufacturers

This past weekend was an action packed one and it all started on WhatsApp, no wonder the Chinese government is restricting the app. So some guy or girl drafts up a message of doom on WhatsApp telling Zimbabweans that there are about to be serious shortages of basic commodities because of the excessive ‘printing’ of […]


Thank You For The Reduction DStv. Now Please Accept Bond Notes…

Dear DStv, It was with a gleeful heart that I learnt yesterday that you’d heard the cries of the people of our land and because of your generosity, decided to oblige and offer a price reduction for your packages. We’re also happy to note that unlike previously where Zimbabweans would pay a substantial amount more […]


Bitcoin Fetches 85% Premium In Zimbabwe

Bitcoin (BTC), the leading cryptocurrency, reached a high in Zimbabwe today as more people look to convert their bank balances to “real money” as well as getting their money out the country. Today, Monday 25 September 2017, on BitcoinFundi, the local Zimbabwean cryptocurrency exchange BTC traded for as much as $7,200/BTC translating to an 85% […]


‘I’m not aware of ghost workers,’ says Finance minister Chinamasa

In an interview on Capitalk FM, in which the Finance and Economic Development minister, Patrick Chinamasa was grilled by Ruvheneko Parirenyatwa and several tidbits came out. We have covered some of what was said here on Techzim, where the minister called for trust and confidence for the economy to work. After discussing some carefully prepared […]