Zimbabwe and regional technology news and updates

EcoCash partners US company to offer another avenue to send funds to Zimbabwe through

It’s been in the news but it’s not really new. However, if we all missed it when it happened then we might as well talk about it today. EcoCash partnered with Remitly, a US financial services provider. Remitly is all about remittances as their name suggests. So, when EcoCash partnered with them it was to […]

Ecocash is the latest to drop USD transaction charges from 7% to 5% after tax

Last year the Zimbabwe government got a little greedy and decided to increase tax on domestic USD transfers from 2% to 4%. It was a bad idea and it took only about 6 months for them to revert back to 2%. When they announced this tax cut we all worried it was too little too […]

EcoCash service is down

In Zimbabwe, it’s tough to tell whether or not a service is facing an outage or it’s just another day at the office with Network challenges. However, the EcoCash service is currently facing some challenges and is giving out an error “External Application down” even when dialing *151#. EcoCash Holdings issued out a statement saying: […]

Above 18% of “early adopters” using EcoCash USD wallet, much higher than we expected

Last month Techzim conducted a survey to determine the level and form of usage of the EcoCash USD wallet. The survey was shared mostly with the Techzim community on WhatsApp and social media as well as communities around Techzim related platforms: Pindula and Soccer 24. The response to the survey was quite high at 441 […]

EcoCash Holdings results: mobile money business struggled but Steward Bank picked up the slack

There are bands that have names like Afrika Revenge, U2 etc. Then there are bands that go with the lead singer’s name e.g. Thomas Mapfumo and the Blacks Unlimited. This second type of band name looks to capitalise on the fame of the frontman who made a name before assembling the band. Then there are […]

EcoCash has lost 3.1 million customers since 2020, what or who is to blame?

In Zimbabwe Coke refers either to all fizzy drinks or just to a particular soft drink. The same goes for EcoCash and mobile money. There is competition in the mobile money sector but for most, EcoCash is synonymous with mobile money. We are all aware that that dominance ended up being a curse for EcoCash. […]

EcoCash Junior wallet for 9-18 year olds is excellent, it was long overdue

If you are a parent or a guardian you are going to love EcoCash’s new product. EcoCash launched the EcoCash Junior wallet today. This new product is aimed towards children aged 9-18. But worry not, as a guardian you will have control over the wallet. The thinking behind the Junior wallet is that parents give […]

You can pay using OneMoney from any POS now, is this a game changer?

You have heard the news, you can now pay straight from your OneMoney mobile money wallet via Point of Sale. This means wherever you find a POS machine you don’t have to ask if they accept OneMoney, they do now. Zimswitch allows for this. The market leader, EcoCash, does not have this kind of integration. […]

EcoCash FCA now cheaper to use, no more cash in/cash out taxes

The domestic remittance playing field has been leveled. The regulations that only applied to EcoCash have been repealed. Earlier this week we talked about how crazy it was that only EcoCash had to collect 4% tax on cash-ins and cash-outs. The bizarre scenario meant we were paying close to 12% of the transaction amount to […]

If you’re sending USD don’t cash into EcoCash, use the vouchers instead

EcoCash has been in the domestic remittance game for a while now. In the service’s over a decade life, competition has never been stiffer. What was once the no-brainer choice is now just one of many options. The regulators saw to that. As we speak, using EcoCash in the way we used to is not […]

InnBucks set to make a comeback to a changed domestic remittance landscape

InnBucks rocked the nation when it launched late last year. Marketed as a loyalty and rewards programme, the service was hijacked by the public and made a domestic remittance platform. With only a 2% charge, which was the IMT Tax, the service was free and we warmed to it pretty quickly. The extensive branch network […]

EcoCash transaction limits revised upwards, still low

You know the drill. Inflation is roaring and prices appear to be changing every day. Couple that with transaction limits on our preferred payment platforms and you can find yourself unable to pay for stuff, even when you have the money. Yesterday, it was Zipit raising its limits, today it is EcoCash’s turn. EcoCash has […]

New EcoCash Assistant on WhatsApp allows you to transact and resolve common issues, simple but could be great

We have had EcoCash for what seems like an eternity now. As it has matured we have come to expect less and less in the way of innovations. That’s exactly what we expect to see when it comes to services and products we have been using for over a decade. We are so used to […]

EcoCash automatic bill payments, they have finally done something really cool

Zimbabwe’s biggest mobile money service EcoCash has introduced a Bill Manager, a new service that it says will bring more convenience for its users and simplifies how EcoCash customers manage their bill payments to different service providers, directly from their phones.  EcoCash has brought about a number of things over the years that have been […]

You can now receive PayPal transfers directly into an EcoCash USD wallet

EcoCash has announced that it has partnered with PayPal for users in Zimbabwe to receive international remittances through its existing partnership with global cross-border remittance giant Thunes. “Leveraging our Hub partnership with Thunes, we are excited to add Xoom, a PayPal money transfer service, to our growing number of remittance partners to Zimbabwe,” . EcoCash […]

EcoCash makes it easier to ask for money from friends and family, markets it terribly

We have all been there, you are a little short on money and need someone to bail you out. It’s a little awkward when you have to ask someone for a handout but what can you do when the need arises? So, you shoot your benefactor a text message or a quick call. Or if […]

EcoCash physical Mastercard is back (again) & it still can’t do online payments

A couple of months ago EcoCash announced that it was entering the domestic remittance game as well as pushing the company’s FCA wallet. This was quite a surprise because the prevailing assumption was that EcoCash was in some sort of conflict with the regulators. However, as it turned out, this was not the case as […]

EcoCash upgrades security, enhancing customer data protection & privacy

EcoCash, Zimbabwe’s leading mobile money platform, has introduced additional security enhancements to its platform to beef up customer data privacy and strengthen the system’s security. The measures announced by the company’s Chief Operating Officer, Munyaradzi Nhamo today, include protecting the customer’s identity by ensuring that when making merchant payments in shops or paying bills at […]

Govt’s 4% forex tax spoils OneMoney Remit’s 0% fee promotion

OneMoney’s domestic remittance service (OneMoney Remit) has announced that it is no longer charging its 3% fee for the first transaction you make and if you are sending anything US$10 or more. Introducing the OneMoney Remit Zero Charges promotion!! Send at least USD 10 locally using OneMoney Remit and enjoy: · Zero charges for your […]

EcoCash says service is back up after hours-long outage.

Mobile Money Operator, EcoCash Zimbabwe which went down this morning has announced on its Twitter page that the service is back up and running. EcoCash post on social media reads as follows. Dear Valued Customer We are happy to advise that all EcoCash services are fully restored and are working normally. You can now Do […]

EcoCash is down

Zimbabwe’s biggest mobile money operator, EcoCash is experiencing some technical challenges this morning as Twitter is awash with customers saying they can’t perform transactions, all the way to being unable to access EcoCash via its *151# USSD. “Our sincere apologies for the unfortunate experience. Kindly note that the EcoCash platform is currently down, our technical […]

NetOne at ZITF2022: “driving the metaverse”, agritech, e-tolls, smart services & more

NetOne had one of the more fascinating stands at the Zimbabwe International Trade Fair (ZITF2022). The state-owned mobile network operator (MNO) is really pushing the metaverse angle as it is their chief motto at its stall in the main hall. NetOne’s mobile money division was not left out of things because it was paying for […]

Innbucks’ growth shows OneMoney could miss yet another opportunity

Why not write yet another article about Innbucks? The Simbisa Brands owned ‘wallet’ service which has been suspended by the central bank had achieved an incredible run. They came out of nowhere and their run in such a short time is way more inspiring than Zimbabwe’s second most popular mobile money service by number of […]

No, InnBucks is NOT phasing out USSD but service disruption came at worst time

Earlier this week through yesterday, the 13th of April, InnBucks’ USSD platform faced challenges. Users would get a message that the USSD service was not available. As a result users had to use the app instead to conduct their business.  InnBucks communicated that they were working with Econet engineers to resolve the problem in a […]

EcoCash FCA wallet cash-in RETURNS. Is the informal market going to jump on?

Last night EcoCash Zimbabwe launched its domestic remittance service and at the same event, the country’s largest mobile money operator also announced that Cash in services are back through its FCA Wallet that will operate from the brand new *153# USSD (and mobile app). This development looks to be in line with the near as […]

EcoCash enters USD money transfers with a domestic remittance service

It was just a matter of time, wasn’t it? With domestic remittance services launching left right and centre, EcoCash was the last marquee name that wasn’t in the mix. Which was, until last night, a little surprising… The remittance game in Zimbabwe is one of the most sought after because the figures for incoming funds […]

EcoCash Foreign Currency Account wallet cash-in service still suspended. Customer service staff confused

EcoCash allows users to have both a Zimdollar and a foreign currency wallet using the same phone number. So, if you have an EcoCash account, you already have the foreign currency account (FCA).  For now only two foreign currency accounts are available, the Rand account and the USD account. They work just like the Zimdollar […]

Zimbabwe trending in opposite direction to the rest of the world in fintech

Zimbabwe has a fascinating financial history. As a nation we have always been interested in the world of finance. In the early nineties, the Zimbabwean government liberalised the banking sector and in just over a decade, 14 new indegenous banks had been licenced. Yes, fourteen banking licences were issued, from CBZ in 1991 to Time […]

POSB launches loans available only to OneMoney customers

POSB Zimbabwe has announced a new micro-loan facility for OneMoney account holders called Mobiloans. The loans are akin to what Steward Bank and EcoCash have been doing with their Kashagi loans which were reintroduced last year. Dial *226# on your @NetOneCellular line now to apply for the instant POSB Mobiloan to buy stationery and smaller […]

2022 MPS wrap: Mobile money limits, crypto, remittances & more

The Reserve Bank of Zimbabwe yesterday released the 2022 Monetary Policy Statement (MPS). The central bank laid out a number of new measures and here are the highlights from the document. New Mobile Money limits The Reserve Bank of Zimbabwe has revised the mobile money limits for person-to-business from ZWL$20,000 to ZWL$25,000 with an overall […]