Zimbabwe and regional technology news and updates



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I blame the 2% tax for the US$2.5 million robbery and others

Prof Mthuli’s 2% Tax is among the contributing factors to the increasing cases of robberies like the one that happened yesterday in Chinhoyi

The 2021 National Budget: Tax relief didn’t go far enough

The Tax Relief measures in the 2021 National Budget didn’t go far enough as Zimbabweans are struggling to survive because of the COVID19 pandemic .

2% transaction tax is coming to USD transactions

It was a matter of time wasn’t it? The 2% tax levied on all electronic transactions by the government is such a cash cow, it is not going anywhere. The only direction we should expect it to go is upwards or sideways. Today, in his mid term budget review the minister of finance has extended […]

Hypocrisy: Gvt Wants Banks, Mobile Money To Reduce Fees But They Won’t Touch 2% Tax

Transacting is crazy expensive in Zimbabwe. In his communique on measure to ‘stabilise’ the financial sector during the COVID 19 pandemic the RBZ governor talked about the cost of transactions needing to stay the same or go down: The Bank also agreed with the banking sector to suspend increases in charges related to the provision […]

How To Move Money From Your Bank To Your OneMoney Wallet

OneMoney announced their festive promotion earlier this week and in addition to transacting for free until the end of the year, there’s also a 1GB data incentive for those willing to move their funds from their bank to their OneMoney wallet. You may have been wondering how to move your money from your bank to […]

Government Reviews 2% Tax Thresholds For Individuals & Businesses

Barely 3 months after reviewing the thresholds of the controversial 2% tax, Finance Minister has again reviewed upwards the tax-free thresholds for both individuals and corporates 2%. This was revealed during this afternoon’s 2020 Budget Statement presentation where the Minister said: I propose to review the Tax-Free Threshold from the current ZWL$20 to ZWL$100 and […]

Mthuli Ncube Says 2% Tax Will Still Be Levied & He Explains Why

We all have been wondering if today’s court ruling puts an end to the collection of the 2% tax. Finally, Finance Minister, Mthuli Ncube has issued a statement saying that you will stay pay the tax despite the court’s ruling because Statutory Instrument 205/2018 (which was found to be illegal today) was validated by under […]

What’s The Implication Of The Nullification Of 2% Tax By High Court?

Earlier on, we wrote about the High Court ruling which nullified the controversial 2% tax. But there’s still a question on how the ruling will affect the current state of things. Before we give you the answer, its important to know where we are coming from. Background to 2% tax Mthuli Ncube was appointed to […]

Minimum Amount Of Money Charged 2% Tax Reviewed Upwards

When Mthuli Ncube introduced the infamous 2% tax last year, he set up a tax-free threshold of transactions worth USD $10. That means that all USD $10-and-below transactions were exempted from being charged 2% tax. For business the tax-free threshold was USD $10 000 for transactions with the value exceeding USD $500 000. When the […]

Even In The USA, The Transaction Tax Is Being Considered, Proponents Want It To Be The Only Tax Levied

So in October 2018, Finance and Economic Development Minister, Mthuli Ncube introduced a 2% tax on all electronic transactions in Zimbabwe. The tax has been subject to a lot of debate ever since. The legality of some aspects of it is in question but the government is raising much more revenue out of it than […]

2% Tax Raised Almost $100 million In January Not $50 million

Nothing is as universally loathed by people as Mthuli Ncube’s 2% tax. Dubbed the Electronic Transactions Tax, it was introduced last year where the government would levy 2% tax on all electronic transactions. Over the following months, the tax was fine-tuned to exclude a number of transactions including important wallet to bank transactions which people need […]

2% Transaction Tax Going Nowhere, Finance Minister Says It’s Going To Give Civil Servants Wages They Deserve

One thing that’s for sure:  electronic transactions are now expensive in Zimbabwe. Ironically so when the government says they are pushing for a cashless economy. I don’t know how they think but taxing electronic transactions exorbitantly is hardly pushing for a cashless economy. We all hoped that the tax will be going away soon. When […]

Gvt Collects 9 Times More In 3 Months From ‘2% Tax’ Than It Did The Whole Of 2017 When It Charged 5cents Per Transaction

Since the government is finding it quite hard to get funding from the international community, it’s turning to measures like the Intermediated Money Transfer (IMT) tax to raise funds internally. And it is cashing in some good money from the 2% tax as shown in the ZIMRA 4th Quarter Report. From October, when the 2% tax […]

2% Tax Still Illegal And Amounts To Unlawful Seizure Of Property – Veritas

Veritas has brought up again the issue of legality of the 2% tax on electronic transactions and whether it should be collected as it is right now. Before we even get into the legality of the process used to effect this tax, we must point out that the tax is in itself inherently illegal. It […]

Government Collects $572 Million In December Alone From The 2% Tax

The latest figures revealed by the government shows that the government is raking in good money from the much-hated 2% tax. As of the 26th of December 2018, the government had surpassed its monthly target with $129,1 million by collecting as much as $572.4 million. According to the Finance Ministry, the tax which was introduced […]

Here Is How Some People Are Dodging Paying The 2% Tax

People are now on a spending spree as the festive season reaches its climax. Whilst we are in the festive season mood many hardly pay regard to the cost of buying things or send money because we are just elated. However, some remain cheapskates whether it’s festive or not, to the extent that they don’t […]

Zimbabweans Have “Embraced” The 2% Tax And Have Never “Complained” About It, Says Finance Minister

The Finance Minister’s latest remarks will probably draw rebuke and ire more than ever. First off he says Zimbabweans have now embraced the 2% tax and he adds to that by saying that, (they Zimbabweans) are no longer complaining about this tax. The 2% tax is not about Zimbabweans being punished, and it is dishonest […]

2% Tax Will Be Used To Fund Water And Sanitation Infrastructure, Says Ministry of Finance. The Tax Is Not Bad After All, Right?

You may make your payments today happily knowing that the 2% tax is being used to improve your health. According to The Secretary in the Ministry of Finance and Economic Development George Guvamatanga, the money from the 2% tax will be used to improve the water and sanitation and infrastructure in rural as well as urban […]

EcoCash Should Refund EcoCash Charges To Customers For ‘Failed Transactions’. Agreed?

Over the weekend, several people experienced some problems using their EcoCash, including two of my colleagues here at Techzim. The problems were characterized by failed transactions which entail someone’s Ecocash being debited (taken money) but the merchant’s account not confirming that it received a payment. I suppose this problem didn’t make much noise because it […]

Government To Review The 2% Tax, Says Finance Minister

After clarion calls to abolish the controversial 2% tax by many people from all walks of life, its still the same story, the government doesnt yet want to get rid of it.  However, its only going to review the tax to come up with more exemptions early next year. Presenting the 2019 National Budget, Finance […]

Mr President, Sir, You And Your Government Need To Pull Your Heads From The Sand

So my colleagues think that somehow 2008 is back. I couldn’t disagree more for while 2008 was the apex of our demise, the years 1992- 2007 saw our government dragging us up mount Moriah edging us closer to our economic death. We are closer to 2004-6 now than 2008. I am not saying things anywhere […]

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 […]