The Reserve Bank of Zimbabwe (RBZ) has, according to a report by the Herald, said that it is working with the banking sector to create incentives that will entice people to deposit money in to their accounts. “We are working on incentives together with the Bankers Association of Zimbabwe to encourage people to make deposits. […]
The Bankers Association of Zimbabwe (BAZ), whose main mandate is to support the banking business of member banks, supports the Foreign Exchange Auction Trading System introduced by the Reserve Bank of Zimbabwe (RBZ) on 17 June 2020 and became operational with effect from 23 June 2020. The introduction of a Foreign Exchange Auction Trading System […]
During the recently held Parliamentary Portfolio Committee meeting, Bankers Association of Zimbabwe raised concerns regarding mobile money services and the unfair advantage they have over financial institutions. Dephine Mazambani, BAZs Chief Economist said the advantage stems from EcoCash and other mobile money services being regulated by POTRAZ and not the RBZ, which simply isn’t true: […]
Paynet do not want to walk away from their feud with the banks empty handed if their recent actions are anything to go by. The service provider has taken to their Facebook account to announce that they will be suing the banks and their association for a substantial US$100m. The Facebook post reads: Payserv Africa […]
Bankers Association of Zimbabwe (BAZ) has acknowledged that banks had a significant role to play in making the externalization of funds possible. Some weeks ago, President Mnangagwa released an infamous list that implicated many organizations and individuals in externalizing $827 million worth of funds. Charity Jinya, BAZ president admitted that some financial institutions had not […]
Challenges of expensive internet & net neutrality highlighted as cash crisis in Zimbabwe steers banks towards online banking
Bank account holders still need an internet connection to access the various services that each bank is tying together on their applications, something that becomes a challenge if the cost of access is a barrier itself.
The government – represented by the Reserve Bank of Zimbabwe which is the industry regulator, and the entire collective of bankers – unified under the banner of the Bankers Association of Zimbabwe are the two entities – the collection of officials, that should have responded to the crisis with emergency measures.
Econet Wireless has pronounced a firm refusal to back down on it’s demand on banks to pay a tariff of 30 cents to gain access to its transaction messaging system. This is according to a report in The Herald that quotes Econet Chief Executive Douglas Mboweni reaffirming this stance. According to the article, Mboweni insists […]
According to an article in today’s Herald, The Bankers Association of Zimbabwe has taken its ongoing battle with Econet to the state legislature. While addressing a parliament portfolio committee on youth indigenisation and economic empowerment, BAZ President George Guvamatanga asked for regulation that gives all people access to bank services. He mentioned how unhindered access and interoperability could […]
As you may know, Econet came out yesterday to publicly accuse CABS, ZimSwitch and Kevin Terry of using the Bankers Association of Zimbabwe to fight Econet’s mobile money product EcoCash. The CABS MD, according to campaigning against EcoCash so he can push his own mobile money/banking product, Textacash. Textacash you will remember is basically an implementation of ZimSwitch’s Shared Services platform. And Zimswitch is owned by more than just CABS.
A report today by financial news and analysis service FinX says the Bankers Association of Zimbabwe have proposed that mobile money services be included in new banking reforms for the country. This, the bankers say, would create a level playing field in an sector facing significant disruption from mobile phone operators.