Zimbabwe and regional technology news and updates



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Senditoo joins forces with CABS

Senditoo keeps marching on…

Liquid Telecom “fibre link challenge” was the cause of bank USSD outage

The Bank USSD service outage faced by some Econet customers this afternoon was down to a Liquid Telecom fibre link challenge.

CABS has partnered with World Remit

CABS has announced that it has partnered with global money transfer service World Remit. You can now collect your World Remit transfers at CABS branches nationwide.

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 […]

CABS Appoints Mehluli Mpofu As New Managing Director

The Board and Management of CABS announced the appointment of Mehluli Mpofu as the Managing Director and Cecil Tanyaradzwa Ndoro as the Deputy Managing Director of CABS. Mehluli commences his service as the Managing Director on 1 April 2020. He takes over from Simon Hammond who proceeds on pre-retirement leave effective 1 April. Simon served […]

CABS Dismisses Cyber Attack Allegations

A recent social media post by journalist Hopewell Chin’ono shared a Facebook post by a person claiming that CABS had been hacked and funds were being withdrawn: Someone has got illegal access to the CABS payment system. Funds are being withdrawn from accounts. Reports are being made at the moment to Police Stations. I am […]

First Looks At Cabs New Mobile App

Towards the end of November, CABS update their banking app, giving users a new coat of paint along with new features and enhancements. In terms of the updated features, the following has changed: Increased security Biometric login Blocking and unblocking your own card Register on mobile banking, no need to visit the branch Link your […]

CABS Says We Don’t Ask For Customer’s Pins After Cyber Criminal Steals $26 000

Card cloning and cybercrime in the financial sector is here and here to stay. In the first quarter of 2019 alone $42 million was lost due to cybercrime and less than $1.5 million was recovered. In a recent case, a CABS client -Reuben Mpofu- lost was defrauded of over $26000 through cybercrime. Though the criminals […]

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 […]

Card Cloning Epidemic Continues As Cloning Crew Steals $69 000

By going cashless the government was supposed to end the gruelling queues and demand for cash and make it easier to transact. What’s happened in reality isn’t that simple. Transacting has gotten prohibitively expensive and card cloning has become an issue that authorities have simply failed to deal with. Rarely does a month goes by […]

NMB Bank Joins 4 Other Banks In Introducing A Kwenga-Like Device Called KaGwenya

NMB is the latest bank to join this wave of portable Point Of Sale (POS) devices. Steward first made headlines when it introduced such a device, CABS and Metbank introduced their’s and CBZ made its own grand entry last week. The spotlight has now shifted to NMB which has introduced the KaGwenya Portable POS. KaGwenya’s […]

[Breaking] FBC Introduces Kwik, Their Own Version Of The Kwenga POS Machine

FBC is introducing a POS machine targeting SMEs, which makes them the third bank to have a similar device (CABS and Steward Bank debuted their own devices last year). We are still trying to get more information about the device as pricing and whether or not FBCs Kwik POS is bringing a new twist to […]

500 SMEs To Receive Funding From Netone

Zimbabwe’s second largest Mobile Network Operator (MNO), Netone has drawn up a programme to finance 500 Small-to-Medium Enterprises (SMEs) in a move meant to incentivize entrepreneurs to create profitable business ventures. The programme will be bankrolled by a $71 million loan facility availed to the MNO by Zimbabwe’s long-time creditor, China Exim. The loan facility will […]

CABS Introduces New Terms And Conditions For Its Textacash

CABS has changed various terms and conditions for its low-cost mobile money product Textacash. No need to panic, it still doesn’t charge monthly service charges. Textacash was introduced in 2011 to increase CABS’s customer base with customers who were previously unbanked. The move was part and parcel of CABS’s drive to be the leader in driving financial […]

CBZ’s Smartchash Now Charges A Monthly Service Fee

CBZ low-cost account Smartcash is now charging monthly service fees. Previously, Smartcash had no monthly fee charges thus offering low-cost accounts to consumers. But, customers are now having to pay $3 per month to service their accounts. The Reserve Bank of Zimbabwe introduced the National Financial Inclusion Strategy with the sole aim of improving financial inclusion. […]

CABS Joins Others In Stopping Manual Transactions In Branches, They Have Done It Partially Though

CABS has issued a statement advising customers that they have stopped processing some specific transactions within their banking halls. They join the growing number of Zimbabwean banks that are moving to digital platforms exclusively. Growing up the fact seemed to be that CABS had the best real time systems in the Zim financial sector. I […]

CABS Halts DSTV Payments, Asks Customers To Bring US Dollars

As of today,CABS has effectively stopped processing DSTV payments through customers accounts. Following suit to other banks, CABS now require account holders to bring their US dollars in the form of cash to make their DSTV payments. The bank’s notice read: We would like to advise our valued customers that the Society has, with immediate […]

Nedbank Plans To Fund The Private Sector Massively, Joins CBZ And CABS In Targeting SMEs

Following yesterday’s rebranding from MBCA, Nedbank Zimbabwe said they want to play a dominant role in financing the private sector. The bank alluded to the mantra “Zimbabwe is open for business” as a key influence for them to choose funnelling funds to the private sector. This initiative is going to be introduced in the same […]

CBZ And CABS Avail Loans Targeted At SMEs

CBZ Holdings has announced that it is arranging to increase loans to Small to Medium Enterprises(SMEs) to the tune of $10million so that it can propel the growth of this sector. CBZ is reported to have increased their SME business by 28%. CBZ is showing its commitment to SME’s by hosting this year’s SMEs Indaba […]

Apparently Steward Bank Is Not The First To Introduce A Kwenga-like Device

With all Steward Bank’s innovation drive, it may come as a surprise to know that Kwenga is not the first portable POS machine to grace Zimbabwe’s financial sector. Who then? CABS. CABS was the first to roll out portable POS machines. One of our readers on Techzim informed us that she saw a CABS portable […]

Press Release: A Way For Diaspora To Pay Mortgage Bills In Zimbabwe

If you’re in the diaspora, how hard has it been to buy or build a house back in Zimbabwe? Here’s a proposed solution by ZymPay in collaboration with CABS. Read below the press release from ZymPay that talks about the new patnership. ZymPay and CABS bring a revolutionary solution to the current inconvenient method of […]

CABS’ POS and Mobile Banking to be unavailable due to a planned maintenance service

In case you missed it: CABS will be carrying out a planned service maintenance which will disrupt some of its services. The maintenance is specifically for the bank’s Point Of Sale (POS) system and as such the POS service will be down. Also, the mobile banking and ZIPIT services will not be available during this […]

About the delayed completion of CABS system upgrade; and a note to all e-money platforms

Now that the government has become clear about not giving ‘non-exporters’ cash, the need for reliable electronic banking systems skyrockets – after all, the bulk of us are ‘non-exporters’. A cashless society can be achieved, only if trust comes into play. Unfortunately, trust is not something we have in Zimbabwe, we have become a broken […]

CABS’ system upgrade stretches beyond the anticipated time frame

Last Friday, we notified CABS and ZB bank customers of some downtime that had been scheduled due to some system upgrade. ZB bank had promised the system upgrade to occur from 14th to the 15th of October while CABS’ upgrade was to take slightly longer that is from the 13th to the 17th of October 2017. Turns out CABS’ upgrade […]

ZB bank and CABS customers, here’s what you need to know before end of day (13/10/17)

There has been two announcements from CABS and ZB bank. Both are warning their customers (or whoever might need to use these banks) that their systems will be under upgrade, hence service disruption. Here’s more detail for each. CABS From 2000hrs today i.e. Friday the 13th (you know what they say about this day) to […]

CABS Mobile Banking Goes Offline, Throws Blame on Econet

The mobile banking of CABS Bank went offline today and people were not able to use the mobile banking platform to make transactions. CABS has sent out a notice to people who use the bank notifying them that the technical challenges that the mobile banking platform is facing are not their fault. CABS attributes the […]

CABS Responds To Local Currency Questions, Sheds Light On What Is Meant By Local Currency

Earlier this week Techzim published an article directed at CABS, seeking clarification on some new headings on their online portal. This was after some CABS customers reached out to us worried after they noticed a new subheading titled ‘Local Currency Account’ on their online portals. Naturally people were worried about that ‘Local Currency’ subheading and […]

Hey CABS, do we have a local currency? We were under the impression we did not

A certain CABS customer logged into their account today like they always do, to check on them incomings and whatnot. There was the familiar ‘Good afternoon’ and ‘Welcome back.’ All was well. However, upon closer inspection they realised something strange, something that was not there before. Instead of going straight into the balances on the […]

EcoCash finally integrates with CABS

Econet, Zimbabwe’s largest mobile financial services company, has finally integrated its EcoCash platform to that of CABS. CABS is one of the largest and oldest banks in Zimbabwe. The two companies had not come to an agreement to integrate more than four years after Econet started integrating the EcoCash platform with local banks. At some point the issue degenerated into […]

What the banks made in 2016. Here’s a list of some of Zimbabwe’s most profitable banks

It’s that time of the year when banks are announcing their annual financial results. So far, CABS, POSB, EcoBank, Metbank, Stanbic, NMB, Agribank, BancABC and FBC have all reported profits. The only bank that didn’t make a profit is NBS, understandably because the bank is new. Agribank apparently made the first profit in 7 years (2009 was the […]