Techzim

Zimbabwe and regional technology news and updates


[Updated]: New Scams Involving Ecocash: Beware

Mobile money transfer is now the preferred medium to conduct transactions amid cash shortages. The benefits that are afforded by using mobile money transfers platforms are now being weighed against frauds and scams arising as a result of using these platforms. But the increase of fraud and scams in fintech is not limited to mobile […]


‘Swipe’ Users Lose $200 000 This Year Already Due To Debit Card Cloning

A report published last week by the Zimbabwe Republic Police of the rising cases of debit card cloning symbolizes one of the major risks of using the “plastic money”. Chief Superintended Paul Nyathi stated that from the beginning of the year to 15 March 2018, debit card holders had already lost $200 000 to the […]


Steward Bank Introduces New Products In A Drive To Improve Internet Banking

One of Zimbabwe’s youngest banks, Steward Bank has just introduced new products in a bid to become an innovative and leading player in the digital space. The bank is advancing its innovation momentum that is partly defined by the recent introduction of Kwenga. They had an exhibition today where they were showcasing their new products. […]


ZINARA Introduces Pre-paid Card For Use At Tollgates

The Zimbabwe National Road Administration(ZINARA) is introducing a new Pre-paid card that will enable users to transact at toll gates in a quicker and more efficient manner. How do you get to pay? Every time a new service is introduced users are always crossing their fingers hoping that their preferred payment platforms are supported. The […]


CBZ And CABS Avail Loans Targeted At SMEs

CBZ Holdings has announced that it is arranging to increase loans to Small to Medium Enterprises(SMEs) to the tune of $10million so that it can propel the growth of this sector. CBZ is reported to have increased their SME business by 28%. CBZ is showing its commitment to SME’s by hosting this year’s SMEs Indaba […]


Apparently Steward Bank Is Not The First To Introduce A Kwenga-like Device

With all Steward Bank’s innovation drive, it may come as a surprise to know that Kwenga is not the first portable POS machine to grace Zimbabwe’s financial sector. Who then? CABS. CABS was the first to roll out portable POS machines. One of our readers on Techzim informed us that she saw a CABS portable […]


Golix User Accounts Compromised

Please note that we have changed the title of this article from the previous one which said Golix had been hacked because Golix reached out and said the platform itself had not been hacked but some of their users had their email accounts compromised which is technically different. Zimbabwe’s most visible cryptocurrencies exchange, Golix, has […]


Thanks to Technology Small Businesses Could Get Loans In 30 Minutes

Have you ever waited for 2 weeks to hear a response of whether your loan application has been approved or declined? Only for the application to be declined. That sucks, right? Welcome to the Age of Credit Decline. Now that banks have reduced consumer lending to productive sectors of the economy, who will lend to […]


SA Company To Partner With ZSE In Bid To Revolutionize Banking System Via Global Digital Exchange

A South African tech company, FORUS, is partnering with Zimbabwe Stock Exchange (ZSE) to implement a blockchain-based solution which is aimed at providing a platform to handle transactions both on mobile and web. The solution, Global Digital Exchange (GDE) is being launched sometime this month in South Africa, Caribbean, Canada, and Zimbabwe. Who are FORUS […]


Bill Gates Kind Of Changes His Mind On ‘Bitcoin.’ Of Course He’s Right And Wrong At The Same Time

A lot of people who have been pushing for the adoption of cryptocurrencies including sheer scammers who want to convince unsuspecting people to join their ponzi schemes have often quoted Bill Gates as having expressed belief in cryptocurrencies Of course when the second richest man in the world (yes, he was recently surpassed by Amazon’s […]


Every Zimbabwean Bank Should Be Very Afraid Of Steward Bank’s Kwenga Or At Least Copy It Faster Faster

What business are we into? This is an important question every business should keep asking themselves and in answering it they should not assume the easy, lazy and obvious. That doesn’t mean the answer has to be complex though. If you speak to my colleagues they will tell you my preferred solution is the simplest […]


Announcing mCoin: The First Inclusive Cryptocurrency Accessible Outside The Domain Of The Internet

mCoin is powered by ONEm’s Global and scalable Platform, which has the ability to reach billions of people around the world even through traditional mobile without the Internet LONDON, United Kingdom, February 20, 2018/ — Introducing mCoin (www.ONEm.com/mcoin), the first cryptocurrency accessible on any mobile. mCoin is a unique first of a kind inclusive cryptocurrency, […]


Zim Bitcoin exchange, Golix, goes down for hours

Golix, Zimbabwe’s only cryptocurrencies exchange went down for several hours today. It was down since early hours today (we found out at 5AM) and has just been restored. We’ve reached out to Golix CEO, Tawanda Kembo and he’s told us they were having an issue with their hosting provider. “We were offline  because we had […]


Social Networks Like Facebook May Lend Legitimacy To Cryptocurrency Market, Says GlobalData

Despite hogging headlines everyday the cryptocurrency market is yet to make much progress towards becoming a mainstream currency. However, the foray of social networks/messaging providers may give some legitimacy to this market, says leading data and analytics company GlobalData. With subscriber growth and active users continuing to be a cornerstone of monetization, social networks/messaging providers […]


Bitcoin Drops To Less Than $6,000 After Highs Of $20,000. Why?

We will remember 2017 as the year of the cryptocurrencies. In that year, especially in the last quarter, Bitcoin and the other virtual currencies saw exponential growth unlike anything that had ever been seen before. In the fourth quarter of 2017 Bitcoin grew by almost 500% internationally, the price of one Bitcoin rising from $4000 […]


No EcoCash Transaction Can Complete Without A PIN

In times like these you wonder, ‘what’s the point of social media?’ It is the convenience and cost savings we seek out but the package seems to come tied in with those who delight in causing panic. Like the joker, some people just want to watch the world burn. For most who read the ‘news’ […]


Can Someone Reset Your EcoCash Pin Without Knowing Your Old One?

Issues that have to do with money have always been sensitive. People quickly panic whenever they figure out that their money is at risk, this is why institutions that deal with money (at whatever level) are ever under scrutiny. As such, EcoCash is one of those… This morning I got a call from a friend […]


StanChart Customers Might Need To Start Looking The OneMoney Direction Over EcoCash

Recently, I got a tip from a Standard Chartered Bank user who pointed out that Swipe Into EcoCash was not working for them and actually hadn’t been for a while. Interestingly, this comes at a time when Standard Chartered Bank now has a direct link to OneMoney. Let’s backtrack a bit… So there’s always been […]


Ripple Joins Forces with Major Banks to Provide Cross-Border Payments

Cryptocurrency powerhouse Ripple, is joining forces with major banks to provide cross-border payments. The tech company has had a pretty rocky start to the year after seeing its prices drop, similar to Bitcoin. However, its cross-border payments plans could be just what the company needs to turn things around. Current international payments system classed as […]


Steward Bank Launches Kwenga, A Portable POS Machine For The Masses

Steward Bank seems to be getting it. Banking is not banking if it excludes the majority. The battle cry in Zimbabwe has been ‘financial inclusion for everyone.’ If you are to include everyone you have to first understand what everyone is doing and develop products specifically for them. That’s what Kwenga does. Zimbabwe is going […]


Stripe, One Of The Biggest Payment Platforms To No Longer Accept Bitcoin. What Does That Mean For Us?

No doubt that over the last few months, Bitcoin (or cryptos really) has become very controversial. Just like on any normal distribution curve there’s always those that lie on the extremes, be it to the right or the left. However in this case both the extremists do agree on one thing, they both agree that […]


Is The Advertising Model On Websites About To Be Replaced By In-Browser Mining?

You might have heard that some hackers are hijacking computers (smartphones included) and using them to mine cryptocurrencies like Bitcoin secretly. This has been termed cryptojacking and Opera has added ‘cryptocurrency mining protection’ to both its mobile browsers, Opera for Android and Opera Mini. This protection is active by default when a user has the […]


Why Did Bitcoin Fall By 50% And Is It Proof The Bubble Has Burst?

Since its introduction in 2009 bitcoin has rallied on to defy analysts’ expectations who have been preaching of its demise right from the beginning. Bitcoin actually inspired other cryptocurrencies which also went on to thrive, much to the confusion of financial experts. Bitcoin growth The naysayers were present from the beginning but not many of […]


Govt Says There Are No Plans To Phase Out Bond Notes Or To Scrap Multi-Currency System

You might have heard the reports (Sunday Mail) that the government was mulling phasing out our beloved bond notes. It was also reported that the multi-currency system will be scrapped soon. The Minister of Finance and Economic Planning, Patrick Chinamasa has released a statement addressing those matters. PRESS STATEMENT ON DE – DOLLARISATION We refer to […]


Golix To Be First Zim Company To Raise Money Through An ICO

If you have been following bitcoin news then you have no doubt heard about Golix. When news spread that bitcoin was trading at a premium in Zimbabwe reference was made to Golix, the platform where the bitcoin trade was and is happening. Golix however is more than just a bitcoin exchange, it is a cryptocurrency exchange […]


You Want To Freelance For Steward Bank But Need To Know More? Here’s More…

So the first time we wrote about collaborating with Steward Bank we described a bit about the bank. Needed to just give you a better feel of what they are about so you can better decide if that’s what you’re interested in. Last time we discussed who exactly they are looking for. Today, I will try […]


Bitcoin Bubble Burst, a way to keep yourself up to speed with Bitcoin performance…

Bitcoin (or its technology) is the new sensation on the block. Well, not so new since it’s been around since 2009 but until 2015/16 it didn’t have as much traction or attention as it has now. In Zimbabwe, 2017’s cash crisis, bond notes et al., are what made most people look its way. Now, Bitcoin (BTC) […]


Bitcoin has been trading at a 100% premium in Zimbabwe, will it continue to do so if things change after the military takeover?

Recently, the number one issue which made journalists from outside Zimbabwe call Techzim for a comment has been Bitcoin. Why? Bitcoin was (and still is) trading at a premium in Zimbabwe. On Tuesday the 14th of November 2017 the rate of Bitcoin against the USD in Zimbabwe was almost twice that of the international rate. […]


$11 Billion Processed On Mobile Platforms In Nine Months

Okay, we knew Zimbabwe went mobile when it comes to processing payments but $11 billion? In the time it takes for a child to be born? That is impressive. The figures come from the Reserve Bank of Zimbabwe (RBZ) and relate to the nine months from January to September 2017. In that time 485 million […]


How effective an innovation is Swipe into EcoCash???

Innovation is always a good thing, even better when it addresses the real problems on the ground (not sure though if something is still worth being called an innovation if it doesn’t). Anyway, EcoCash recently launched its latest innovation, Swipe into EcoCash. The innovation has so far been met with different responses though most seem to […]