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Tag: cash crisis


[Press Release] Cash Crisis In Zimbabwe Leads To 20% Increase In Cash Sent To Zim Via WorldRemit

WorldRemit, a leading online international money transfer company has seen a 20% increase in transactions sent to cash pick up locations in Zimbabwe in the first two weeks of October (compared to the same period in September). The recent surge follows consistent growth in WorldRemit transactions to cash pickup locations over the last year since […]


EcoCash Sends A Warning To Its Agents Charging Extra Fees For ‘Cash Outs’

EcoCash has sent a stern warning to its agents who are charging extra fees (selling cash) to customers to ‘Cash out’. Any agent caught doing this, will be penalized- not sure what the penalty will be.   With at least 8 million, more than 50 000 agents and merchants, EcoCash has is many people’s preferred […]


Making International Payments in Zimbabwe Just Got Harder; Ecobank’s Visa Card Prefunding System Down.

Since the cash crisis, particularly USD, making international payments has been one of the most difficult things to do in Zimbabwe (quite essential considering how dependent on import we are).  Only a few banks still offer the service but only on condition that you prefund the card with USD. Quite ironic considering that it is […]


US Dollars Return To Banks And ATMs…

Information that is circulating online is indicating that the US dollar has made its way back to the economy. For some who are out of the country this may seem to be silly news, but for the past few months seeing a $20 note was a rarity that could necessitate the family head to summon everyone […]


Does A New President Equal An Improved Economy?

I’m still kinda in the celebratory mood after the firing of our Vice President, then coup-not-coup, then resignation of our dear President and finally installation of a new leader. It’s been a very interesting month and if you laid your head down to rest for a minute too long you may have missed it all. […]


Granting Of A Three-Month Amnesty For The Return Of Illegally Externalised Funds And Assets

This is a statement that has been issued by the President E. D. Mnangagwa advising those that were involved in illegal activities to bring back any funds they may have sent out of Zimbabwe. In his inauguration speech, the President mentioned that “the liquidity challenges which have bedevilled the economy must be tackled head-on and […]


Barclays Bank Joins The Club, Suspending DStv Payments

One down, only eight left. Barclays Bank, one of the few banks that were still taking DStv payments in Zimbabwe has just announced that with effect from the 1st of December 2017 (2 days from now) it will no longer be taking DStv payments. Here’s the notice from the bank: Dear customer, we kindly advise […]


RBZ Says Bitcoin Is Not Legal…

For some time now Techzim has wondered whether Bitcoin is legal or not. In fact, a number of people from in and out of the country have contacted us and enquired. Our standard response has been that the Reserve Bank of Zimbabwe (RBZ) has been lax towards regulating the cryptocurrency and our assumption has been […]


How To Get Bitcoin In Zimbabwe

There has been a craze for Bitcoin over the last few months with interest in the cryptocurrency being driven higher by the cash crisis in Zimbabwe worsens. There has been a lot of international interest in how much bitcoin trades for in Zimbabwe, premiums reaching as high as 85% here, though, in reality, the money […]


Everything Happening Now All Happened Before In 2008…

Though it’s almost 10 years ago the memories of 2008 are as clear as day to me. I was in a technical college at the time and needed to sit for my National Diploma that I assumed would be the key to opening many doors for me. Sadly, due to the ferocious economy at the time I […]


Breaking: Barclays restricts use of Visa cards with immediate effect

Barclays Bank, one of the only two banks we know about that still allowed spending on debit cards outside the country without USD cash pre-funding, has just announced some changes. It won’t anymore. Or, to put it more accurately, customers will need to have such spending approved by the bank beforehand. Here’s the announcement the […]


DStv Payment Methods November 2017

Yes, as Zimbabweans articles like such are necessary. How one is able to pay for their DStv subscription is necessary as it doesn’t work like how it does in a “normal” country. As of today, November 2, 2017, these are the methods that one can use in order to pay for their subscriptions: NMB (Account […]


“Our Shops Usually Have Cash, For Cash Outs” – EcoCash

If you just crawled out from under a rock and been there for a year, welcome. A lot has happened over the past twelve months, from Zimbabwe introducing “its own currency” (the bond note) to NetOne rebranding their mobile money service OneWallet to OneMoney. What has been most interesting however has been the cash crisis that […]


Zimbabwean Bitcoin Exchange Golix Processes $1m Monthly. Now Profitable

Over the last few months as the cash crisis in Zimbabwe continues to persist the appetite for cryptocurrencies, Bitcoin included, has increased 4-fold. Zimbabwean cryptocurrency exchange Golix.io has announced that from its seemingly ambitious targets of wanting to process $1m worth of transactions in total historic value, that in the month of October 2017, the exchanged handled […]


DSTV Zimbabwe States Its Position On Local Payments

Knowing how one can make a payment for their DStv subscriptions is becoming important every day. As the conditions in Zimbabwe regarding payments are ever changing, making a payment for one’s satellite entertainment is fast becoming a complicated task. With a service that requires one to search for US dollars and then make that payment […]


BREAKING NEWS: Stanbic Bank Reduces Visa Limits Again In Less Than 2 Weeks

In less than 2 weeks Stanbic Bank has announced that they will be further reducing their Visa card payments to $100 until the end of the month. This is effective immediately and the bank also announces that come 1 November one will have to make prior arrangements with the bank. Just 13 days ago, the […]


Which Bank Cards Are Working To Make Online Payments In Zimbabwe?

This post has been coming for the past year, as the goal posts have been continually changing. One minute your card can make online payments for $5,500, the next it’s reduced to $1,100 and before you can say “bond notes” it’s reduced further to $500. While it will go on to change a bit eventually being […]


Banks To Stop Cash Withdrawals? Why This Is A Race To The Bottom…

Just picked myself up from the floor when I read this article on a Zimbabwean daily print newspaper that states that Zimbabwean banks have resolved not to issue cash to non-exporting customers. So the Head of the Bankers Association of Zimbabwe came out and said this at a recent event (emphasis mine): For people who […]


NMB Says Downtime Is Because Of A Planned System Upgrade, Should We Believe Them?

Last Friday CABS and ZB Bank notified their customers that there would be system downtime because of a planned system upgrade. CABS’ system upgrade ended up taking longer than expected. While we could not really fault ZB Bank because they had communicated earlier we were not pleased that CABS’ upgrade took longer than anticipated eben […]


See the status of banks on ZIPIT, send and receive status, USSD codes and more

Let us start with an assumption that we all are familiar with ZIPIT now, the interbank transfer processor. With the ongoing cash crisis Zimbabwe is facing ZIPIT has grown in importance. The interbank processor connects 20 banks and allows any mobile registered user on any network to send money from their bank account to another […]


BREAKING: Steward Bank Now Only Takes USD to fund MasterCard

In what is becoming a barrage of bad news Steward Bank has the latest blow. The Bank announced back in August that they were implementing international limit restrictions on Steward Bank MasterCard Debit cards.  Back then the bank announced that customers will only be able to access value on the debit card against pre-funding in foreign currency […]


Yet another cash vendor arrested, Operation Dzosai Mari firing on all cylinders

Late last month the government made cash vending without a proper licence illegal. The Exchange Control Act was amended to empower the police to arrest illegal forex traders and seize whatever currency in their possession. If you still want to be a money-changer you have to obtain a licence. The RBZ shared what you have to do […]


Video: No more international payments via EcoCash… unless you have USD

  As Zimbabwe’s cash crisis worsens, the country’s top mobile money service, EcoCash, has announced that EcoCash that it will no longer be processing international payments unless subscribers pre-fund their wallets with physical United States Dollars: Read more here. Quick NetOne, Telecel, Africom, And Econet Airtime Recharge Number to recharge: Airtime amount: EcoCash number: {{error_message}} […]


“We’ve Never Accepted Payments” Says Multichoice Zimbabwe…

Over the last couple of weeks, Techzim has commented a bit on the cash crisis and how it affects various players in the economy, though of great interest to us has been DStv. It’s entertainment ka! Anyhow, we’ve commented from an angle as if the satellite media provider once used to offer a means for […]


BREAKING NEWS: Ecocash Suspends International MasterCard. To Reintroduce It Funded By USD’s Only

Mobile money payment solution Ecocash has sent out an announcement that they have suspended international transactions on their MasterCard debit card with immediate effect. It is not all doom and gloom though as they reassure people that come November 1, 2017, they’ll be back up and running, though you’ll need to pre-fund that card with […]


CBZ Touch Pulls The Plug On DStv Payments…

There are a limited number of options of how one can use money in their bank accounts to pay for their DStv subscriptions. Among that list, you won’t be seeing CBZ’s Touch as an option any longer. Effective immediately CBZ have stopped the processing of DStv payments using their mobile money solution most likely to […]


iPhone X Coming To Zimbabwe. Get Your Kidneys Ready…

Apple iPhones have been known to cost an arm and a leg in Zimbabwe. When the price of the iPhone X was gained by Techzim recently, after picking ourselves up from the floor, we realised that maybe, just maybe, this was a phone not for us. Scheduled to launch on 3 November, 2017 around the […]


Thank You For The Reduction DStv. Now Please Accept Bond Notes…

Dear DStv, It was with a gleeful heart that I learnt yesterday that you’d heard the cries of the people of our land and because of your generosity, decided to oblige and offer a price reduction for your packages. We’re also happy to note that unlike previously where Zimbabweans would pay a substantial amount more […]


Bitcoin Fetches 85% Premium In Zimbabwe

Bitcoin (BTC), the leading cryptocurrency, reached a high in Zimbabwe today as more people look to convert their bank balances to “real money” as well as getting their money out the country. Today, Monday 25 September 2017, on BitcoinFundi, the local Zimbabwean cryptocurrency exchange BTC traded for as much as $7,200/BTC translating to an 85% […]


DSTV Zimbabwe Prices Compared To South Africa – 2017

This afternoon Techzim broke the news that DSTV will be reducing their bouquet prices with effect from Tuesday 26 September 2017. Many are meeting this announcement, which is similar to what the satellite offering did in other markets, as a response to the Strive Masiyiwa owned Kwese TV, but we seem to think their competition […]