Zimbabwe and regional technology news and updates



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This Ecocash horror story shows how systems can fail you

Earlier this week I wrote about the need to make banks and Zimbabwe’s financial institutions accountable for some of the losses that people suffer through hacking and fraud incidents. There was a lot of debate on both sides, especially the more security conscious among our readers insisting that it’s the responsibility of account holders, not […]

Zimbabwean banking industry: Shame, Shame, Shame!

If you remember, the gallant RBZ announced that Zimbabwean banks were to start paying interest on savings accounts, effective 1 July. The RBZ sounded proud of this development as we could tell from the tone of their address. That was surprising. Every single person to ever be associated with banking in Zimbabwe should have been […]

Steward Bank offering video banking for clients hesitant to leave their homes

Moving around in 2020 has been a hassle. Not only can it result in your death (no, seriously) but because of quarantine and suspension of services, the moving around itself is pretty difficult. Many businesses have opted to go fully or partially remote and banks have dealt with this Earlier this year, BancABC announced BranchX. […]

FBC launches WhatsApp banking chatbot

FBC Bank has announced the launch of Noku, “a smart Digital Assistant” (i.e a chatbot) assisting clients with banking and insurance services on Whatsapp at any time of the day. Noku also allows anyone to open an FBC Instant Account or Mobile Moola wallet on WhatsApp without visiting a physical branch. Existing FBC account-holders who […]

Banc ABC launches mobile banking app with ability to buy ZSE shares

Banc ABC continues on their digital journey -announcing the launch of the Banc ABC A360 mobile application today. The banking application will allow Banc ABC clients to manage their accounts and transact from mobile. Features being touted by Banc ABC are; Digital Account Opening Funds Transfers (ZIPIT, RTGS, Own Account & Internal Transfers) Bill Payments […]

Steward Bank Roped Into EcoCash & RBZ Fight

EcoCash’s war against the Reserve Bank Of Zim appears to be raging on. The Financial Intelligence Unit issued a directive to Steward Bank earlier on today placing some limitations on EcoCash’s Trust account (think of it as the main account for EcoCash). The directive by the RBZ reads: Restriction of payments into Ecocash Mobile Money […]

Banc ABC Announces Profit Before Tax Of ZW$486m – Mambondiani Says Going Digital Was A Big Contributor

BancABC Zimbabwe, the local banking subsidiary of Pan African group, Atlas Mara has published financial results for the 2019 financial year. Banc ABCs press material proudly notes that the financial institution posted an operating income of ZW$486m. The operating income grew by 869% from $54m the previous though when adjusted for inflation the growth was […]

EcoCash Vs Swiping: What’s Superior?

Back in 2011 when EcoCash was introduced, I don’t think any of us envisioned how ubiquitous the payments platform would become close to a decade later. In fact, our article covering the EcoCash launch 8 years ago only viewed the mobile money service as a peer to peer platform: EcoCash will work almost exactly like […]

How Much Are Zim Banks Charging When You Transact In Shops?

For a long time, consumers have complained about the state of our economy and how it’s changed the way banks make money. Instead of making their dough from interest on loans, banks now make most of their money from charges that you and I pay when we transact and for the upkeep of our accounts. […]

CABS Testing Out Cards With Bolstered Security To Fight Card Cloning

Back in February the RBZ governor demanded that banks start issuing out EMV compliant cards in a bid to prevent the epidemic that is card cloning. If the banks did comply with this directive, they didn’t make much noise about it. One bank that is bolstering its security is talking about new developments in line […]

Stanbic Launches Innovator’s Hub

[Image Source: Stanbic] Over the weekend Stanbic Bank Zim launched their very own Incubator Hub. Whilst we were not in attendance, the launch of the Incubator Hub (yeah, the name is pretty unimaginative) was covered by Stanbic Bank via their Twitter account and from their coverage we got some interesting details regarding the hub. It […]

Warning! FBC Tells Clients To Ignore Fake Message Asking For Account Details

A week ago CBZ sent out a warning to their clients regarding a fake message that was circulating asking for clients details. It seems this is not a situation exclusive to CBZ as FBC is also sending out a similar message. FBC Bank notes with concern the spread of fake communication across various platforms purporting […]

Warning! CBZ Says Message Circulating Asking For Clients Details Is Fake

If you’re a CBZ customer and you have received a message requesting that you share your CBZ Touch credentials as part of the Winter Promotion, then you’re probably trying to be duped. Urgent Attention!!! We have noted an influx of messages requesting account holders to send their CBZ Touch login credentials, PIN and verification codes. […]

Interview: Standard Chartered Bank Head Of Retail – “Disruption Has Forced Banks To Focus More On Clients”

On the back of Standard Chartered launching their fully digital banking app – SC Mobile- in Zimbabwe, we sat down with the bank’s Country Head for Retail Banking Valeta Mthimkhulu and discussed a number of issues from the roll-out of the app, disruption in the banking industry to what the sector might look like in […]

Banks & Allied Workers Union Says Digital Banking & Harsh Economy Leading To Job Cuts

Zimbabwe Banks and Allied Workers Union (ZIBAWU) recently commented on the job cuts and branch closures affecting banks and workforces in the country. This comes on the back of CABS announcing they would close 4 branches later this year and First Capital reportedly planning to lay off close to 200 staffers. We checked on the […]

Old Mutual Launches Value Creation Challenge Offering Startups Working Space & Capital

Old Mutual has partnered with the British Council in Zimbabwe to launch the Eight2Five Value Creation Challenge which seeks to empower startups by offering office space and seed capital. The application portal for the challenge seems to be currently down but might go online soon since Old Mutual had announced they will be taking applications […]

Paynet And EcoCash Join Heads To Offer Temporary Solution For Payment Of Salaries For FREE

Since June 15, banks haven’t had access to Paynet’s solution which enables them to make bulk payments. This has meant a delay and disturbance in the issuing out of salaries, as the 5200 clients who were relying on banks to give them this service have had to opt for an alternative which most probably requires […]

Do The Banks Affected By Paynet’s Decision To Cut Them Off Have Work Arounds?

The stand-off between Paynet and banks is quite confusing for most people because up until banks were cut-off and some no longer had access to their salaries and pensions, most didn’t even know about the existence of a Paynet. One of the most pressing questions you probably have (and I did too) was, what exactly […]

[Download] Zimswitch Digital Payments Conference 2019 Presentations

The second annual ZIMSWITCH Digital Payments Conference running under the theme Digital Economy For Africa was a success. With both local and international speakers sharing their knowledge on the payments landscape, those who attended benefited immensely. If you didn’t attend but you were following the Livestream on our Twitter page, you might have been interested […]

List Of All The Standard Bank Closing Branches In South Africa

There are a few things that are certain in life. We need food, water and air. We don’t like going to the bank and the list goes on and on. Because we don’t like going to the bank, the banks are deciding that they will no longer have a physical place to house us as […]

When You Install A Local Banking App, What Data Are You Giving Away?

If you have tried your hand at internet banking – using the banking apps specifically- you’ve probably had a convenient experience thus far. It’s certainly better than what you get using USSD anyway. But what do these banks ask for in return? Most of us (myself included) download an app and quickly allow the app […]

Standard Bank Closing 91 Branches, The Robots Are Here To Take Our Jobs!

Dramatic title aside, automation has been a very touchy subject over the past few years and recent developments at Standard Bank SA won’t do anything to halt people’s animosity towards the digital transition the world is going through right now. The bank has announced that they will be closing off 91 branches and this is […]

Are Bank Cards With Fingerprint Sensors The Next Big Thing In Banking? I Hope So

Natwest, a UK Bank has begun testing out a new security standard in their bank cards; biometrics. That’s right we’ve slowly become accustomed to fingerprint sensors on our phones and laptops and Natwest is experimenting with using that same technology on their bank cards. The bank is trialling out this system in the middle of […]

First Capital Bank Postpones System Upgrade Due To Monetary Policy Statement

First Capital Bank was supposed to undergo a system upgrade from the 28th of February to the 4th of March but this has been moved to 15 March. The new dates have been informed to customers via an email which reads: Dear Valued Customer, We make reference to our previous communication dated the 5th of […]

First Capital Bank (Barclays) Upgrading Their IT Systems From 28 February – 4 March

First Capital Bank (formerly known as Barclays) is sending emails to their customers informing them of an upcoming system upgrade from Thursday 28 February until Monday 4 March. The email sent to customers reads: Dear Valued Customer, We would like to inform you that the bank will be migrating to its new information technology (IT) […]

Steward Bank Claims 150K People Opened Accounts In A Week After Launch Of *236# Banking

Just last week, Steward Bank launched a first-of-its-kind service in the form of *236# Banking. This allows people to open an account in ‘60 seconds’. Of course, you’ll have to go and collect your card after this process but it’s easier than what competitor banks are asking you to do before you have a bank […]

UniLedger Is A Cool App That Allows You To Track Your Banking & Mobile Money Transactions

UniLedger’s claim to fame will be the fact that the app was the first “automatic budgeting app for all mobile wallets and all banks in Zimbabwe” as the app description states. Yes, that means EcoCash, OneMoney, Telecash & Getbucks, along with the 16 banks in Zim. My EcoCash was picked automatically but unfortunately, I couldn’t […]

There Have Been 154 Cases Of Card Cloning In Zimbabwe So Far In 2018

Card cloning has slowly become a phenomenon for most of 2018. The cyber-crimes are on a rise and because the public was never prepared to actually safeguard themselves criminals are making a killing. The Zimbabwe Information and Communication Technologies (ZICT) has said in 2018 there have been 154 cases of bank card cloning reported. The […]

Barclays Bank Zimbabwe To Be Called First Capital Bank, Effective From Next Week

Barclays Bank is notifying the public that they will be undergoing a name change effective from next Monday (8 October). Below is the press statement they released on the matter: The Company held an Extraordinary General Meeting on 3 July 2018 at which meeting members unanimously resolved to approve the change of name of the […]

South African Bank Launches ‘Whatsapp Banking.’ Yes You Read That Right.

If you follow news from our neighbour down south, you may have heard that Absa –the financial institution- recently rebranded. Maybe a less reported aspect of this rebranding was the fact that they also announced what they are calling ‘Whatsapp banking’. I only got to stumble upon this after someone likened Absa’s Whatsapp banking to Whatsapp […]