Techzim

Zimbabwe and regional technology news and updates

advertisement
advertisement

RECHARGE

Nyaradzo logo


Bureau De Change Conti-Cash now allowing people to pay DStv at “bank rate”

Zimbabweans love their DStv and are often willing to go to the black market to get the foreign currency needed to pay the subscription. At one point the RBZ revealed that on average Zimbabweans spend about US$45 million every six months on DStv subscriptions alone. Now there is a bit of good news for those […]


Deposit incentives but no protection for USD, the mess that is Zim’s monetary policy

Yesterday we reported on the lack of coverage for USD deposits by the Deposit Protection Corporation (DPC). And a lot of people weren’t too surprised that this provision was not set by the Reserve Bank of Zimbabwe (RBZ) and Ministry of Finance. While that gap exists in the banking sector, the Reserve Bank announced interest […]


Your USD deposits at the bank are not protected

Members of the National Mattress Bankers Union of Zimbabwe won’t be too surprised by this… It appears that if you make a USD or Forex deposit into your NOSTRO account there is nothing to protect you as a depositor if the bank goes belly up. Now the organisation that deals with this primarily is the […]


The RBZ announces interest rates for deposits, it’s too little too late

It’s a well-known fact, the only bank Zimbabweans will trust with their hard-earned money is the National Mattress Bank-NMB. The fact that there is actually a bank called NMB is of course coincidental but still part of the joke. What is not a joke is the suffering we have endured at the hands of Zimbabwe’s […]


The Zim dollar can be converted worldwide according to Ministry of Finance

Deputy Minister for Finance, Clemence Chiduwa said in Parliament that the Zim dollar (ZWL$) is accepted regionally and internationally according to a report by OpenParly. The issue of the convertibility and regional or international acceptance of our currency as we speak now, the Zimbabwean Dollar is accepted regionally and internationally through the exchange rate. Not […]


NBS launches “Instant Cash” domestic remittance service

National Building Society (NBS) has joined in on the remittance game by launching a competitor to BancABC’s City Hopper called Instant Cash. The remittance space has been something of a cash cow of late. Last year the total money received in Zimbabwe recorded just over US$1 billion. This was after there were projections that it […]


Screenshots: Don’t fall for this Ecocash scam

One side effect of Statutory Instrument 127 of 2021 is that I have observed an uptick in the use of the RTGS dollar. This is driven in part by increased usage of mobile money, swipe and ZIPIT. Thanks to the new law people would rather buy using RTGS as most popular shops no longer offer […]


RBZ’s Financial Intelligence Unit names & shames auction abusers

It has been a couple of weeks since the government/RBZ introduced its latest shock grenade in the form of Statutory Instrument 127 of 2021. They riled the entire economy by trying to dictate what exchange rate businesses use when conducting operations. They also banned USD cash discounts and any incentives to induce USD payments. This […]


World Bank gives Africa over US$3 billion for COVID-19 vaccines

World Bank President David Malpass this week met with a delegation of the Africa Vaccine Acquisition Task Team (AVATT), led by African Union (AU) Special Envoy Strive Masiyiwa, to discuss the multibillion-dollar financing of vaccines for African countries. David Malpass later tweeted a screenshot of the meeting showing him and the bank’s top leadership, discussing […]


Zim has ZWL$9.8 billion budget surplus? In this COVID hit economy?!

Earlier this week, Minister for Finance Mthuli Ncube said that Zimbabwe had a budget surplus of ZWL$9.8 billion in Q1 of 2021. A budget surplus is essentially the government making more money from income like taxes and the likes than it is spending. Now there are many ways to interpret this especially with COVID-19 being […]


ZIMRA: PAYE, 2% Tax & Withholding Taxes due 10 June 2021

The Zimbabwe Revenue Authority (ZIMRA) has in a statement notified all that PAYE (Pay As You Earn), IMTT (2% Tax) and Withholding Taxes for May 2021 are due on the 10th of June 2021. ZIMRA’s Statement reads as follows: The Zimbabwe Revenue Authority (ZIMRA) hereby reminds all its valued clients that the following returns and […]


RBZ “SI 127 is not designed to harm business”

In some near midnight tweeting, the Reserve Bank of Zimbabwe (RBZ) posted a thread clarifying Statutory Instrument 127 of 2021 (SI 127 of 2021). Here’s what the central bank had to say: SI 127 more about the Forex Auction participants according to the RBZ Some points to note on S.I 127 of 2021: The purpose […]


OK Zimbabwe has stopped accepting USD payments because of SI 127

The long arm of Statutory Instrument 127 of 2021 (SI 127 of 2021) has reached one of Zimbabwe’s biggest retailers. In a memo to all branches, OK Zimbabwe will not be accepting USD payments because of the separation of receipts provision under SI 127 of 2021. Memoranda To: All Branches Att: All Branches, Financial Services, […]


RBZ’s planned deposit incentives won’t stop mattress banking

The Reserve Bank of Zimbabwe (RBZ) has, according to a report by the Herald, said that it is working with the banking sector to create incentives that will entice people to deposit money in to their accounts. “We are working on incentives together with the Bankers Association of Zimbabwe to encourage people to make deposits. […]


If you are interested in stocks & trading check out Deriv

If you have been around the stocks and trading scene for some time then the name Deriv isn’t anything new. The company, which was initially called Regent Markets in 1999 was established as an online trading platform with the goal of universal access. What is Deriv offering? Deriv, true to its mission, offers a range […]


Why are you still using EcoCash?

OneMoney and Telecash are cheaper when it comes to charges.


Senditoo partners with Star FM to takeover Tilder Live & more

Senditoo is giving yet another lesson on brand awareness…


Zimswitch needs to strike a balance between ZWL & USD e-commerce

The local merchant should not be left behind in the e-commerce boom.


Four ZIMRA workers siphoned $50 million ZWL in a VAT scam

They almost got away with it.


FNB has a simple solution to SMS One-Time Password (OTP) hacks

There is another way. Zim banks please take notes.


Zimswitch partners with VISA to accelerate digital payments in Zimbabwe

There is just one niggle though…


BancABC raises City Hopper fee to 3%, but still cheaper than the alternatives

Marginal increase but still cheaper or safer than than the alternatives


Wait… PayPal’s remittance service Xoom is working in Zim?

Xoom is available at ZB Bank it might allow you to get cash out of your PayPal wallet.


First Capital introduces Alisa, their own support bot

Say hi to another chatbot