Techzim

Zimbabwe and regional technology news and updates


You can now buy ZESA tokens on credit using EcoCash

EcoCash recently made it possible to buy ZESA tokens on credit. By simpling dialling *179# you can access the new service. You can get ZESA tokens on credit valued at ZW$50 using the service and you’ll back at 26% interest. This means you’ll pay back ZW$63 bucks for your ZW$50 token. The interest seems a […]


Beware! Scammers promising to upgrade daily EcoCash account limits

The RBZ recently placed stricter regulations on mobile money service providers. You may have heard that you can no longer transact over ZW$5000 daily. Interestingly, we came across a WhatsApp message that we believe is a scam. It claims that you can actually upgrade your EcoCash account and once you have done so you’ll be […]


OneMoney follows EcoCash and effects ZW$5000 daily transaction limit

Many people were wondering if OneMoney and Telecash would all be subjected to the same regulations that were recently put into effect by EcoCash. Well, OneMoney is the second mobile money operator to effect the ZW$5000/daily transaction limit. NetOne subscribers received the message below this morning; Dear Customer. Following a RBZ directive, OneMoney transactions are […]


Video: EcoCash sets daily limit at Z$5000. Who is hit hardest?

RBZ issued a monetary statement directing mobile money wallets to suspend agent accounts and set a daily limit of Z$5000. In this video we look at what this means for the average Zimbabwean as well as who is most affected. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or […]


EcoCash Payroll and OnePay under threat as RBZ directive suggests banning of salary processing

EcoCash Payroll and NetOne’s OnePay solution pretty much solve the same problem – allowing businesses to pay their employees salaries. The RBZs recent pronouncements in the Monetary Policy statement indicate that payroll services face existential threat. In the Monetary Policy Statement, RBZ says the following; Mobile payment operators have been turning a blind eye and […]


What can you buy with the ZWL$5000 EcoCash limit?

In abiding by the Reserve Bank of Zimbabwe’s directives, EcoCash has instituted a ZWL$5000.00 a day limit on transactions. The outline of how this will affect daily transactions is as follows: “Transactions by all individuals shall be pegged at a maximum of ZWS5,000 (five thousand Zimbabwe dollars) per day with immediate effect. This threshold relates […]


2 Ecocash accounts? The less active one will be closed

Last week, we reported that the RBZ had announced with immediate effect that each individual would be allowed to only have one mobile money account. This means individuals with multiple EcoCash accounts will be affected. The question that immediately came up was simple. “If I have two accounts which one will be closed?” Well, the […]


EcoCash limits transactions to $5000 per day

In accordance with the Reserve Bank of Zimbabwe’s Monetary Policy Statement on Friday EcoCash put out the following press release: EcoCashNotice to All EcoCash CustomersDear Valued CustomersPlease be advised that we have received a directive from the Reserve Bank of Zimbabwe to the following effect; 1. Transactions by all individuals shall be pegged at a […]


EcoCash & others given until 30 September to connect to ZimSwitch

The assumed deadline for the ZimSwitch’s role as the national switch was the 15th of August 2020. That deadline has passed and that led many to wonder when this measure will come into effect. Earlier this week sources at EcoCash revealed that they hadn’t met the deadline that was set by the Reserve Bank of […]


RBZ details faults of mobile money services which led to regulatory pressure

Zimbabwe’s Central Bank (aka RBZ) has been on a war path with mobile money services (mainly EcoCash) for most of the year. RBZ firmly believes EcoCash and other mobile money services have led to the currency instability in Zimbabwe. After some court battles and tightening of mobile money regulations, mobile money in Zimbabwe looks much […]


Agent lines banned by RBZ as “they no longer serve any legitimate purpose”

Earlier today, the RBZ published the Monetary Policy Statement and there are a number of pretty shocking declarations. One of which is that agents lines are officially a thing of the past. The same document also outlines that mobile money wallets will now be limited to one per individual. RIP agents (2011-2020) Agents have been […]


RBZ announces mobile money rule: Individuals can’t have more than one wallet anymore

The Monetary Policy Statement (MPS) is out and as we expect, the RBZ has announced some surprise regulations. The war against mobile money is far from over it appears… What’s the new rule? Under the section titled “measures to address mobile banking deficiencies” is a set of new regulations. Mobile money operators “shall with immediate […]


No, you can’t send money from EcoCash to OneMoney yet

On the 9th of July, the Reserve Bank of Zimbabwe issued a directive that made ZimSwitch the national payments switch. This meant that EcoCash was going to be relegated to being just another wallet. ZimSwitch as the national switch for Mobile Money means that one can essentially send money from EcoCash to OneMoney or Telecash […]


FBC was listening, as Civil Servants can now convert USD allowance via USSD

The ladies and gentlemen over at FBC must either have an ear to the ground or they had this one in the pipeline. A couple of days ago we reported that FBC was making facilities available for Civil Servants to liquidate their US$75 allowance over WhatsApp and email. As progressive as those moves are they […]


OneMoney has reviewed service fees

One Money has reviewed service fees. The new prices are as follows: Transaction Tariffs Lower Value ZWL$ Upper Value ZWL$ Bill Payment Merchant Payment 1.00 1.99 0.17 0.03 2.00 5.00 0.35 0.18 5.01 10.00 0.55 0.24 10.01 20.00 0.85 0.71 20.01 30.00 1.35 1.16 30.01 40.00 1.67 1.63 40.01 50.00 2.55 2.19 50.01 60.00 3.29 […]


CABS launches a service to send money to any number, here’s why it won’t work

At first glance this looked rather interesting. A service that allowed CABS account holders to send money to any mobile money number. That initial excitement faded though as I went deeper into CABS’ new service Send-to-Cell. How does it work? As mentioned before CABS customer can send money to any mobile money number regardless of […]


EcoCash has increased tariffs

EcoCash charges have been reviewed upwards. This follows a change made in March this year. The assumption is that the company has finally been given the green to increase the charges, as this is regulated by the Reserve of Zimbabwe. Here are some quick example of what you should expect to pay in fees for […]


EcoCash “currency manipulation” probe delays Cassava Smartech financial report

Cassava Smartech announced that they have delayed the release of their audited financial statements for fiscal year-end February 2020. They made this announcement to shareholders citing that the delay is being caused by the “regulatory review” of one of the company’s key holdings EcoCash. The previously mentioned regulatory review is a currency manipulation investigation being […]


State of mobile money in Southern Africa

Being a young Zimbabwean who holds no faith in our banking system – mobile money has been a big part of my life. Around 49% of Zimbabweans are registered with a mobile money service. 1 in 2 Zimbos is a significant number and this got me wondering – Is the story the same in other […]


Econet CEO – Issuance of search warrants one of the tools used by state to interfere with rights

The court documentation filed by Econet as part of their Urgent Chamber Application to temporarily suspend the Magistrate Court’s decision to issue a Search and Seizure warranty to the ZRP makes for interesting reading. Econet Wireless’ Chief Executive Officer, Douglas Mboweni has a written statement that is part of the Urgent Chamber application and in […]


Monetising Zoom calls through M-Pesa [Kenya]

With the popularity of Zoom during the coronavirus pandemic, it was just a matter of time till this service was in some way monetised on the user end. With cases on the rise and people looking for alternatives that limit the disruption of business, Safaricom’s M-Pesa seems to have struck on a solution for businesses […]


Warrant permitting ZRP to raid Econet unconstitutional – Fadzayi Mahere

On Friday, the Magistrate’s court issued a search and seizure warrant giving the ZRP permission to raid Econet Wireless offices. The Criminal Investigation Department sought the warrant on the basis that they suspect Econet Wireless to be “involved in money laundering”. In fact, the allegations are that Econet Wireless and subsidiaries created and issued “non-attributable […]


Zimswitch: a quick refresher on what it is and what it does

The Reserve Bank this afternoon issued a statement that made Zimswitch the national payment switch. This means that EcoCash will be relegated to just being wallet and will have to use Zimswitch as the universal transaction hub. Now, as more information about this comes out, and we see how EcoCash responds to this. Let’s have […]


With a national switch on the way, EcoCash needs to focus on innovation now more than ever

A few days ago, my colleague Tinashe wrote an article about EcoCash and the Econet group’s need to innovate build compelling products. Today the RBZ announced that ZimSwitch is going to assume the role of the national switch and EcoCash will be required to be interoperable with this switch. Given all this, I thought it […]


EcoCash to become just a wallet, RBZ says everyone must connect to ZIMSWITCH

So this happened: DESIGNATION OF ZIMSWITCH TECHNOLOGIES (PRIVATE) LIMITED (ZIMSWITCH) AS A NATIONAL PAYMENT SWITCHIn accordance with the provisions of the National Payment Systems Act [Chapter 24:23] and the Banking (Money Transmission, Mobile Banking and Mobile Money Interoperability) Regulations, Statutory Instrument 80 of 2020 (the Regulations), the Reserve Bank of Zimbabwe (the Bank) wishes to […]


EcoCash is under threat – gvt to blame BUT underlying problem is EcoCash/Cassava/Econet

Yesterday a colleague mentioned that they were denied using EcoCash at a service station. All other forms of payment were acceptable except EcoCash. This didn’t surprise me. First let’s make sure those who have been living under a rock are caught up: On Friday the 26th of June 2020, the Government of Zimbabwe declared that […]


What does the RBZ directive mean for EcoCash and other mobile money platforms?

Yesterday the Reserve Bank followed up a statement made by Nick Mangwana on Friday night. The original statement looked to totally ban mobile money platforms. The government was planning to take a: “Series of prudent and coordinated interventions to deal with malpractices, criminality and economic sabotage perpetrated by the “wolves in sheep skins amongst our […]


Govt saves face, RBZ statement on EcoCash ban: reversing from the original plan

Yesterday the government through Nick Mangwana issued a statement declaring that mobile money was suspended with immediate effect. Naturally the public wasn’t happy and all three mobile telecommunications companies released statements to the effect that they would wait for a directive from the relevant authority. It seems like they have revised the original plan, probably […]


Telecel completes the set, all three telecoms respond to the mobile money ban

Telecel has completed the set. Now all three of the country’s telecommunications companies have all responded to the announcement by Nick Mangwana last night. Their statement reads: “To our valued customers Please be advised that the Telecash mobile money service is operating as normal. For all inquiries SMS or send a WhatsApp message to 0732150150.Call […]


OneMoney and MyCash respond to mobile money ban: platforms are still working

NetOne and MyCash have followed up Econet’s response to the announcement made by Information Secretary Nick Mangwana last night. NetOne Dear Valued Customer, We would like to advise that OneMoney services are still operating normally. Do not hesitate to contact us on the numbers provided below, for any queries and enquiries. OneMoney, it’s One time. […]