Zimbabwe and regional technology news and updates



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RBZ Fintech Sandbox applications are still open

Back in March, the Reserve Bank of Zimbabwe (RBZ) announced the launch of its Fintech Regulatory Sandbox. This platform is a way for the central bank and the country’s financial institutions to mix and mingle with innovators and startups in the fintech space. When we reported on it earlier this year we were disappointed by […]

RBZ’s planned deposit incentives won’t stop mattress banking

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. […]

Watch: Breakdown of the recently released Monetary Policy Statement

Monetary Policy Statement breakdown with RBZ Governor Dr John Mangudya

Pensioners to get FCA cards, govt says it will pay for them

Pensioners are a group that has been a little overlooked when it comes to how they received their US$ allowance. Civil Servants have been beneficiaries of convenient platforms as well as FCA Cards. In a report from Sunday Mail, RBZ Governor John Mangudya said that Pensioners will soon be getting FCA cards. “It was brought […]

Mangudya – Contrary to expectation, remittances skyrocketed after COVID-19

The Reserve Bank of Zimbabwe governor John Mangudya has said that remittances grew exponentially after COVID-19. It was largely expected that remittances would crash due to job-losses and the Coronavirus-induced economic recession. Mangudya speaking during a ZIMRA press conference mentioned that contrary to that belief remittances actually grew. From January to July 2019 Zimbabwe received […]

RBZ Says Leaked De-Dollarisation Document Is Not Official

The RBZ has come out with a statement regarding the 5-years de-dollarisation project document which has been making the news after leaking last night. The Central Bank has said that whilst the document was being worked on by RBZ personnel, it isn’t the official position and had not even been inspected by the government. The […]

Upcoming Regulations Will Allow Innovators To Access Banks – RBZ

2020’s Monetary Policy Statement is out now and RBZ has once again discussed what their plans for the local Fintech industry are. Background The focus on Fintech alluded to last September in the mid-term monetary policy. The RBZ decided to create a National Fintech Steering Committee which would provide “policy direction in the Fintech space”. […]

RBZ Governor Responds To Circulating $10 & $25 Coins Images

And again the Governor he’s pissed off by social media. The Reserve Bank of Zimbabwe Governor, Dr. John Mangudya has dismissed images circulating on social media of coins that the central bank is allegedly about to introduce. He told the Herald: It’s all fake news; I don’t know what is happening back home.There is nothing […]

Official And Black Market Rates To Reach Equilibrium In 2 Months – Mangudya

Even though the difference between the black market rate and the official rate continue to run away ahead of official rates, Dr Mangudya foresees the two rates to converge in 3 months. Usually, such comments are followed by an explanation of what the Reserve Bank of Zimbabwe will do to achieve that or what is […]

5 More Years Of Mangudya As President Mnangagwa Grants RBZ Governor Another Term

John Mangudya’s tenure as RBZ will not be coming to an end as most wanted. Instead, the RBZ announced that he will be getting a new 5-year term in office. If you don’t like the guy for whatever reason, you’re stuck with him for the foreseeable future. The Cabinet Secretary Misheck Sibanda released the following […]

{Video} Watch African Economic Research Consortium’s Senior Policy Seminar Livestream

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Zimbabwe’s Economic Future Is Promising: Robertson

In the latest Monetary Policy, the Governor of the Reserve Bank did something radical. He floated the “local currency” which is now being traded at the so-called Interbank market rate. This is something his predecessor, the much loathed, Dr Gideon Gono would never have permitted. Apparently this act in itself was enough to impress local […]

$24 Million Traded Since The Introduction Of The Bank Rate

Last month the RBZ governor finally let the bond and RTGS balances loose. The government was essentially dispensing with the fiction that bond notes were on par with the USD due to the fact that they were backed by some mysterious Nostro facility. The hope was that the introduction of a market based rate instead […]

Follow The Monetary Policy Statement Presentation Today (At 14:00 Hrs) On These Platforms

Today is the day we all have been waiting for since February started as we shall see the RBZ Governor, John Mangudya presenting the Monetary Policy Statement. Although the RBZ has already dismissed rumors that it’s going to introduce a new currency, some people (including me) have a feeling that some ‘sinister thing’ will be […]

Monetary Policy Statement Is Late, Could The Media Stories Be True?

So the Reserve Bank of Zimbabwe Act, the law that establishes and regulates the central bank states that the bank should issue 2 monetary policy statements per year. One of the statements according to the law must be issued in December and the other one in June. This timetable has not been observed for sometime […]

[Breaking] RBZ: Mangudya & Mthuli Did Not Fight

It’s been widely reported that Finance Minister Mthuli Ncube and Mangudya the Governor of the Reserve Bank are not seeing eye to eye. Apparently, this standoff is the reason why the monetary policy is yet to be announced. The RBZ has now come out and rubbished these claims and they have said that the claims […]

RBZ Says They Dont Know Where RTGS Balances Are Coming From; Can They Fix The Economy Then?

The Reserve Bank of Zimbabwe (RBZ) says it doesn’t know where the RTGS balances are coming from. This is the central bank we are talking about and they don’t know where 95.5% of the supposed ‘money’ we are using is coming from. How ironic. Speaking about this phenomenon, Reserve Bank of Zimbabwe (RBZ) Governor Dr. John […]

MasterCard Boss Is In Zim, They Are Planning To Open An Office Here Soon

This is a press release with a bit of our own commentary. Mastercard President and CEO, Ajay Banga, this week visited Zimbabwe to show Mastercard’s strong support for the country’s drive to create a new wave of digital payments and inclusive growth. He outlined how Mastercard will collaborate with local private and public sector partners […]

Finance Minister Doesn’t Think The RBZ Is Involved In “Money Changing”, Promises To Investigate However

Another conspiracy theory that make the rounds is that the central bank, Reserve Bank of Zimbabwe (RBZ) is involved in the informal and illegal money changing practice. Now Finance Minister, Professor Mthuli Ncube has dispelled this, with him saying that he doesn’t think the RBZ is involved in that practice. He was saying this just a […]

RBZ Confirms “Influential People” Are Running Black Markets, Blames The Central Intelligence Organisation, Police And Banks For This

After years of what we thought were unfounded conspiracy theories, today the Reserve Bank of Zimbabwe Governor, Dr. Mangudya has confirmed your worst nightmare. Dr. Mangudya has confirmed that a secret group of people is making the black market flourish. And he went on to question the competence of the Financial Intelligence Unit (FIU) and the […]

Statement From RBZ Governor Says All Is Well; If He Is Speaking To Us It Actually Means Things Are Not Well

The RBZ has issued a press statement signed by their boss, Dr John P. Mangudya. Here it is: PRESS STATEMENT DRAW DOWN OF FOREIGN CURRENCY FROM USD500 MILLION LINES OF CREDIT FOR PROCUREMENT OF ESSENTIAL COMMODITIES The Reserve Bank of Zimbabwe (the “Bank”) wishes to advise members of the public that it has started drawing […]

Download: Monetary Policy Statement Delivered By Dr John Mangudya 1st October 2018

Here is the monetary policy statement delivered by the RBZ Governor today. You may also be interested to buy the Techzim report on the state of the payments ecosystem in Zimbabwe. You can buy the report via EcoCash below:   Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney […]

Three Bloomberg Interviews: Mnangagwa, Mthuli Ncube, Mangudya- Draw Your Own Conclusions

Below are three interviews by Bloomberg. One of them worries me greatly. You can draw your own conclusions: President Mnangagwa Mthuli Ncube John Mangudya Reserve Bank of Zimbabwe's governor sees a positive investment mood ▶️ — Bloomberg TV (@BloombergTV) September 21, 2018   Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime […]

Expect More Cash From Banks As RBZ Instructs Banks To Pass Cash To Customers

The central bank, Reserve Bank of Zimbabwe (RBZ) has told people to expect more physical cash (cash), to withdraw, as it will be injecting more foreign currency into the financial sector in the foreseeable future. The move will obviously relieve the acute cash shortages Zimbabwe is experiencing. Zimbabwe has been languishing from cash shortages for a […]

The Cost Of Social Media Fake News To The Economy Is “Horrendous” Says RBZ Governor, John Mangudya

The current concern surrounding ‘fake news’ may be mostly centered on its influence on political outcomes, including elections; but there are also consequences for consumers and investors. This sentiment is shared by the Governor of the Reserve Bank of Zimbabwe, Dr. John Mangudya who is lamenting the negative impact of fake news on the economy. […]

RBZ Releases More Forex, 2 Weeks After Stopping Disbursing It: Hopes To Put Moneychangers Out Of “Business”

Following the recent sharp increase of cash burning rate, the Reserve Bank of Zimbabwe (RBZ) has decided to increase foreign currency (forex) in the economy by a further $50 million to tame this rate. Cash Burning is essentially a form of selling hard cash US dollars (USD) on the black market to those who are desperate […]

StanChart Waits To Hear ‘Tax Implications’ Of The $100 Million UK Loan Facility Before Disbursing It

As a sign of a thawing of relations between Zimbabwe and the UK, last month the UK government advanced a $100 million facility to Zimbabwe to alleviate cash shortages and foreign currency shortages. The money was advanced to the country by Commonwealth Development Corporation (CDC) through the Standard Chartered Bank Zimbabwe (StanChart), as a line […]

POS Devices Increase Drives First Quarter Electronic Transactions To 368 million

The uptake of Point of Sale machines has exceeded the Reserve Bank of Zimbabwe’s expectations because of a 20 percent increase of POS devices in circulation. POS machines increased from 56 000 to 70000. The drive to have 100 000 devices hinges on the government’s objective to increase financial inclusion by having a cashless society. […]

RBZ Govenor Mangudya Says There Is No Liquidity Crisis, We Have Enough Money In RTGS System. Haaya…

Dr John Mangudya always has a way of making me write articles even when I have planned not to. Yesterday he again declared that there is no cash crisis in Zimbabwe because there is a lot of money in the RTGS system. He is of course telling the truth and lying at the same time. […]

Could It Be We Missed That Bond Notes Actually Served Their Purpose?

Before you light your torches to burn me alive, I am well aware of the current situation as regards bond notes. Ever since their introduction at 1:1 with the USD, bond notes have been on a steady decline. Granted that decline has reversed since President Mnangagwa took office. I know that some saw the bond […]