Tag: black market

eLearning bundles have created a mobile data black market in Zimbabwe

I’m convinced Zimbabweans have an affinity for black markets. At the moment, we have a black market for fuel, foreign currency, groceries and over the past few weeks one for mobile data has emerged. “What is this guy talking about now”, you may be wondering? Well, it’s the new eLearning data bundles and how people […]

RBZ Making Transactions Harder – They Will Achieve The Opposite Of What They Want

Zimbabwe’s central bank has made it hard for me to write of them in any positive light in a very long time. In recent weeks they have issued unilateral decisions that limit how we can use our own money. RBZ forbids you from buying a TV The central bank is so fixated on imposing limits […]

No Company Or Individual Should Do More Than 2 Internal Bank Transfers Per Day – RBZ

It keeps getting stranger by the day. Here is a circula sent to banks by the Financial Intelligence Unit of the Reserve Bank of Zimbabwe: 4 June 2020 Measures to prevent abuse of internal bank transfers for illegal foreign currency transactions Further to our circular to banks dated 26th of May 2020, titled “Enhanced Scrutiny […]

Bank Foreign Currency Exchange Rates Today – 7 January 2020

The current bank exchange rates for the ZWL$ today are as follows: USD to ZWL$: 16.8890 ZWL$ to RAND: 0.8401 Data according to the Reserve Bank of Zimbabwe Black Market Rates: USD to ZWL$ zimrates.com  23.00 USD to ZWL$  zwl365.com 22.70 USD to ZWL$ bluemari.info 22.90 USD to BOND: zimrates.com 16.7 More: MarketWatch Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: […]

EcoCash Closes More Agent Lines

Several EcoCash agents had their lines closed yesterday as result of ongoing investigations by the Reserve Bank of Zimbabwe, according to Zimpricecheck. EcoCash and RBZ have lately been trying to curb the trading of cash by EcoCash agents and one way of doing that is blocking some agent lines. After closing the agent lines, Cassava […]

Some Banks Buying USD Above Black Market Rates, Interbank Market Heating Up

It’s early days yet with all this ‘new Zim Dollar’ and forex ban stuff. However, today the exchange rate between local currency and other currencies like the USD is an interesting story. The black market rate has fallen When we say fallen we mean that you get less local currency per USD. At peak on […]

The RBZ Pours Jecha On The Forex Black Market

When John Mangudya announced that he was going to introduce bond notes in addition to the already circulating bond coins back in 2016 people were not amused. In fact, there were protests and individuals like Evan Mawarire came into infamy and were arrested and charged with all manner of crimes. The bone of contention At […]

RBZ Should Be Shut Down – Former Finance Minister, Tendai Biti

After claiming that the government was planning to introduce a new currency, Former Finance Minister, Tendai Biti is now even calling for the Reserve Bank of Zimbabwe (RBZ) to be closed down as it is the source of the current economic problems. As justification for his assertion, Mr. Biti said that during his tenure as […]

Zimbabwe’s Informal Sector Largest In Africa, Second In The World

A recent study by the International Monetary Fund (IMF) has shown that Zimbabwe has the second largest informal sector in the world. Only the south American Bolivia has a larger black market. The working paper titled, ‘Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?’ says more than 60% of […]

Bond Note:USD Exchange Rate Falls, ZSE Drops $6b In 8 Days As Markets Self Correct

We have been religiously following the events on the Zimbabwe Stock Exchange (ZSE) over the last few weeks, for good reason. The experts say the stock market reaction is one of the primary indicators which speaks to investor sentiment. We have also been keeping an eye on the black market bond note to the USD exchange […]

Taking advantage of the weak Rand

Recently during an eNCA broadcast there was quite an extensive talk about the depreciation of the Rand against the dollar. What this simply means is that you now need more Rands to buy one dollar than what you previously needed. The purists must know that not only has the Rand depreciated against the dollar but the […]

How Much Is A 3G Enabled Econet Line Worth On The Black Market? $150!

Ok, it’s official (well, in the unofficial sense), if you have US $150 to burn, you can make a few calls to guys who know guys, who know guys, who know guys that are selling Internet-ready Econet mobile lines and one will be delivered to your doorstep within the hour. The official price of an Econet line is US $5 and internet subscriptions cost a flat $25 a month.

We made a few calls ourselves and got offers ranging from $130 to $150. We tried to negotiate the price down with one guy and got the much expected “either you pay $150 or you don’t want the line, simple!” So business sure is brisk for these dealers from the dark side.