Techzim

Zimbabwe and regional technology news and updates

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The Importance Of Interoperability In The Payments Ecosystem: The Evolution of Payments

This is the first of a three-part series on the importance of interoperability in the payments space. In this article, we look at the early history of electronic payments and how interoperability played a key role in the success of credit cards and ATMs. In the next article, we will take a closer look at […]


{Press Release} FBC’s Mobile Moola Instant Card:Secure and Affordable

Following an article in which I outlined a problem that I had with my FBC Mobile Moola Card, FBC have since send me their official response with regards to this issue. In addition they clearly stated that the Mobile Moola account does and ought to send SMS alerts whenever a swipe related transaction is performed. It […]


FBC’s Mobile Moola Has A Serious Security Flaw: Account Holders Don’t Receive SMS Alerts When A Purchase Is Made

[Updated] FBC have since issued their own response here. After going through the impressive five minutes it takes to open a FBC Mobile Moola account and linking the account with Ecocash, I decided to take it for a spin. After making a routine purchase I instinctively checked my phone to see how much had been […]


The 2% Transaction Tax Could Be Effective If Implemented Less As A Punishment And More As An Encouragement

The recently introduced tax on electronic transactions has seen some revisions since it was announced on the 1st of October this year. These revisions have all been welcome because they make the tax a little more bearable. The first revision was that $10 and lower values would not be taxed. The last one could be […]


President Mnangagwa As You Review The 2% Tax, Consider This: We Are Taxed For Moving Money From The Left Pocket To The Right Pocket

Dear President Mnangagwa I was quite pleased to hear you announce that the 2% tax on all electronic transactions will be reviewed. This is good news and this letter serves to point out some of the issues you may want to consider as you review this tax. Individuals are as important as companies, only poorer […]


{Press Release}: Digital Payments Firm, Cellulant Listed On The Prestigious KPMG’s 2018 FINTECH100

Cellulant, a leading digital payments provider that reaches 40 million people across 11 African countries has been named among the Top 50 emerging Fintech companies in the world in this year’s KPMG FinTech100 report. Cellulant is among the only three African companies representing Africa from Kenya, Nigeria, and South Africa to be included in the […]


Can You Receive Money Into A Zimbabwean PayPal Account?

Every now and again, we receive a question from readers asking us if they can receive money in the Zimbabwean PayPal accounts. The answer right now (October 2018) is that you cannot. PayPal hasn’t yet opened this functionality for their Zimbabwean subscribers. How to Check? In case you’re reading this article sometime well after October […]


Full Text: Veritas Says Mthuli Ncube’s 2% Transaction Tax Is Still Illegal

So the saga continues. Yesterday the High Court declared that the challenge to the new transaction tax that had been brought before it was not urgent and hence it would be dealt with in due course. The rational was that if it had been urgent then it would not have been filed two weeks after […]


Check Out CBZ’s List Of All Transactions Which Are Charged And Exempted The ‘2% Tax’

CBZ just like many banks has published an informative guideline concerning the recently introduced 2% tax. In its guideline, CBZ lists all the transactions that are both charged and exempted from the 2% tax. Here is the list of transactions where the 2% IMT Tax applies or does not apply. N.B: The list above also […]


Econet To Unbundle And List Cassava Separately On The ZSE

Econet will be unbundling Cassava which was essentially the companies Fintech (financial technology) wing. This move will essentially make Cassava one of the biggest companies in Zimbabwe overnight as the company is responsible for products and services such as EcoCash, EcoSure, EcoFarmer, Ruzivo, Steward Bank and Muzinda hub among other companies. The Chief Executive of […]


Mthuli Ncube Went Through With It: It’s Now Law To Pay 2% Tax Per Transaction

11 days after the Minister of Finance announced that there will be a revised tax on all electronic financial transactions in Zimbabwe, the new regulation is now enforceable. We are all going to be 2% poorer. When Mthuli Ncube first announced the introduction of this tax, he said that it was going to be with […]


Here Are The 8 Transactions That Wont Pay The Controversial “2% Per Dollar Tax”

Finance Minister, Mthuli Ncube came up with 8 exemptions to lighten the burden of the controversial 2% tax that was introduced during the monetary policy statement presentation. The following exemptions are on top of a provision that says, transactions below $10 are not charged the 2% tax. And a cap of $10 000 on the […]


Mthuli Ncube Clarifies On Tax, Says Transactions Above $500k Will Pay A Max Of $10 000

The issue of the high tax on electronic transactions just won’t die. Here is a statement from Mthuli Ncube, the Minister of Finance and Economic Development: PRESS STATEMENT BY THE MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT, HON. PROF. MTHULI NCUBE ON THE INTERMEDIATED MONEY TRANSFER TAX At the occasion of the presentation of the 2018 […]


Quick Math: Transacting In Zimbabwe Is Now Above 3 000% More Expensive On Average

Generally there is outrage against the newly announced transaction tax on every electronic funds transfer transaction. The Minister of Finance, Mthuli Ncube adjusted the cut that government gets whenever we move funds around from a flat 5c per transaction to 2% of the amount being moved. Of course it’s clear that this is going to […]


The Great Contradiction: Mthuli Ncube’s New Transaction Tax Is Accelerating Us Back To The Past

So the big news yesterday was something we have always known but that Mangudya finally admitted: the USD is not equal to bond notes which are not equal to money that is in electronic circulation in Zimbabwe. The second biggest news was that the government is now dipping it’s fingers and getting 2% of the […]


MyCash Now Offers Payroll Services

The payroll processing arena has got a new entrant now, that is, MyCash. Processing payrolls will see MyCash process salaries of other companies employees and also administer the associated taxes of the processed salaries. MyCash’s payroll service is its one way of broadening its appeal to its customers, more so, its enterprise customers. I think […]


ZESA Reverses Decision To Raise Minimum Amount One Can Buy Via EcoCash, Still Disfavouring EcoCash Though

ZESA had a very bad couple of weeks a few weeks back and of course it made the rest of us have an equally bad couple of weeks and left us in a dark place literally. Star Wars kinda dark side…. The Powertel platform that permits the vending of prepaid electricity tokens was constantly down. […]


EcoCash Sends A Warning To Its Agents Charging Extra Fees For ‘Cash Outs’

EcoCash has sent a stern warning to its agents who are charging extra fees (selling cash) to customers to ‘Cash out’. Any agent caught doing this, will be penalized- not sure what the penalty will be.   With at least 8 million, more than 50 000 agents and merchants, EcoCash has is many people’s preferred […]


C Trade What You Do Is Very Important Please Think Through Your Process

The problem that I see almost 100% of the times when businesses adopt technology for example move online etc is that they do so while maintaining the same paradigms they held. This is usually because tech is introduced as a ‘good idea’ or a ‘keeping up with the trends.’ That perception is not sufficient if […]


Government Instructs Schools To Open EcoCash Accounts

We all know that mobile money platforms (particularly EcoCash) are now the de facto way of making payments by average Zimbabweans. If an organization doesn’t accept payment through mobile money these days then they stand to lose much revenue. That’s why the government is now urging (and instructing) schools to accept mobile money payments. Such […]


Buy The Payments Systems Environment in Zimbabwe Report For Only $9.99

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 phone to buy airtime because this page will not work. {{error_message}} {{error_message}}


EcoCash Nominated For A London Business School Award, Techzim Report Played A Small Role There

EcoCash has been nominated for the London Business School Real Innovation Awards 2018. They have been nominated for the ‘Best Beats First Award.’ The award is described as such: First movers don’t always have the advantage. Sometimes the smart thing is to wait for the pioneers to take the initial risks, and to do the […]


Some Banks Have Blocked The ‘Swipe Into EcoCash’ Service: But Here Is A List Of Banks That Still Do It

There seems to be a secret war that’s going on between EcoCash and some few banks. Some banks including Stanbic and ZB Bank have blocked their customers to use the ‘Swipe into EcoCash service’. So now EcoCash has given out a list of banks that you can still do ‘Swipe into EcoCash’. Here are the […]


EcoCash Collaborates With Mastercard To Introduce The ‘Scan+Pay’ Service That Makes It Way Faster To Make Payments

Today EcoCash has collaborated with Mastercard to introduce a new payment service that enables EcoCash customers to make QR payments to merchants and billers through the EcoCash app. The payment service called Scan+Pay will allow EcoCash customers to scan a barcode image (QR code)  through the Ecocash app (in their phone) so that they can […]


Square World, The One Stop Shop For Diasporians

A few years back, I witnessed my uncle taking medication for his Tuberculosis, The pills were so many, I was disturbed. Long after my uncle was gone, as I was conversing with my doctor friend, I discovered the pills had been consolidated, one had to take just one pill a day and they will be […]


ZB Bank to Commit $40 Million For Digital Banking

The banking landscape as we know it is changing in Zimbabwe and the world over. Digitisation is revolutionizing the way customers engage with their finances. As a result, banks are having to rethink the way they do business to deliver a better customer experience and remain competitive. That is why ZB Bank is committing $40 […]


Shumba Money, A Local Fintech Company Is Looking For A Web Designer And Developers

Web Designer, Developer and Android Developer its time to get your curriculum vitaes in order to apply for jobs at Shumba Money. Shumba Money is a local fintech company that is promoting financial inclusion through technology solutions particularly Small-to-Medium Enterprises sector. Web Designer and Developer jobs Shumba Money says its is “looking for an innovative […]


National Building Society Finally Linked With EcoCash

National Building Society (NBS) account holders are now able to link their bank accounts with the EcoCash mobile money platform. By doing so the bank has joins others like Standard Chartered, ZB Bank. CBZ, Stanbic, NMB, Agribank and Banc ABC etc. which are already integrated with EcoCash. Obviously, NBS was prompted to link its bank […]


Nedbank Customers Will Not Be Able To ‘Swipe’ And Do Mobile Banking This Sunday Due To Planned System Maintenance

Nedbank customers will not be able to do many banking services on (this) Sunday morning due to a planned system maintenance by the bank. The maintenance will be carried out from 2 am to 5 am. During that time customers will fail to use services like Nedbank Point of Sale devices (Swiping), Mobile Banking, ZIPIT and […]


EcoCash Says Its Service Is Currently Facing Challenges

EcoCash has confirmed that its service is currently not running at full throttle. This the second time EcoCash has been down in less than two months. The last time EcoCash experienced this, commerce virtually came to a standstill countrywide. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney […]