Techzim

Zimbabwe and regional technology news and updates

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Ecobank account-holders worry as the bank says it will be backdating collection of 2% tax

It has been almost three years since Finance Minister Mthuli Ncube introduced his much-hated 2% tax. It’s still not clear why the tax was introduced, so many reasons have been given, but it is now an accepted fact of our lives. Sometimes something outrageous concerning the tax happens however and people are forced to question […]


Withdraw USD locally in Zimbabwe

Zimpricecheck has curated a list of options for folks travelling into Zimbabwe to access hard currency during this coming festive season. Access the list here. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney number: Buy Please dial our USSD code *405# on your phone to buy airtime […]


USD withdrawals now available at select EcoBank ATMs

EcoBank has announced that customers and anyone else with a forex card can now withdraw USD from select EcoBank ATMs in Harare and Bulawayo.


EcoBank opens up APIs to African businesses and developers

After a pilot earlier this year, EcoBank’s Pan-African Banking Sandbox is now accessible to Africa’s fintech community. The Sandbox allows Fintechs to access Ecobank’s Application Programming Interface (APIs) for the development of solutions. What will innovators be able to do? The sandbox is available on request and once granted access you’ll be connected to Ecobank’s Unified […]


EcoBank Updated App Comes With Improved Security & Ability To Open A Lite Account

EcoBank has updated its mobile app for all their users across the continent and some of the new features in the application are long overdue. If you update to the latest application here are some of the new features that’ll now be a part of your mobile banking experience: One of the biggest changes to […]


RBZ Clears Ecobank Of Wrongdoing For Realising $15 000 Of New Notes

Following last week’s introduction of new coins and notes, Ecobank was accused of offloading the money on black market. RBZ promised to conduct investigations on the incident and take appropriate disciplinary actions if Ecobank was found of any wrongdoing. A week later, RBZ’s Financial Intelligence Unit concluded that Ecobank had done nothing wrong in releasing […]


It’s Ecobank That Has Put New Currency On Black Market Says RBZ

The Zim currency drama unfolds. No comment needed from us. Here is the press statement released by the Reserve Bank of Zimbabwe as promised earlier: PICTURES OF NEW NOTES CIRCULATING ON SOCIAL MEDIA The Reserve Bank of Zimbabwe (“RBZ”) has taken note of pictures circulating on social media that show recently introduced 2 dollar banknotes […]


The MasterPass App Had No Place In Our Market, Ecobank Wasted Resources Importing Back An African Innovation From America

Africa is a market, the best kind: a market that feels so inferior that it buys whatever you are selling as long as you are not coming from Africa. We always assume that whatever comes from outside our continent particularly from the West is a good deal and we need it. I was disappointed to […]


MasterCard To Kill The Masterpass App: Here Is Our Obituary

MasterCard have sent out an announcement to customers informing them of the impending demise of the MasterPass App. Although their communication does not clarify what will happen to this service killing the app will in essence spell doom for the service. Here is a copy of the email they send out the customers: Hello, You […]


Ecobank Invites African Fintech Startups To Apply For Their Funding Competition

Pan African bank, Ecobank has just called startups with Fintech solutions to apply for the Ecobank Fintech Challenge 2018. The competition is in its second year and last year over 850 contestants applied so competition will definitely be stiff. Ecobank Fintech Challenge gives African startups a chance to promote their fintech solutions partner or an […]


Banks Are Loving The Cash Crisis: Here Is Why

Indicated by substantial profits, last year was a prosperous year for all banks in Zimbabwe. Cautious but shrewd lending among other factors has contributed for banks to post these profits. However, the overall banking sector is decreasing its lending to households. From 2016 up to now Zimbabwe is grappling with cash shortages and the cash shortages […]


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 […]


Ecobank introduces Scan+Pay, a way for you to make payments much faster

Ecobank recently announced that they’re launching a new service called Scan+Pay which will be available in 33 countries across Africa. Scan+Pay is a service that will allow you to scan a barcode image (QR code) using your smartphone so that you can pay for goods or send money to someone else. The service is the […]


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 […]


New Ecobank Mobile App allows payments using QR codes

To be honest I wasn’t too excited to hear about Ecobank’s new Mobile app. I thought well just another bank app, what’s new about that? Oh they do have something new. The Ecobank Mobile app comes with Masterpass QR, the one click payment solution from MasterCard. What the heck is that right? Materpass QR is […]


EcoBank launches unified banking app for 36 African countries, coming soon to Zimbabwean clients

EcoBank has launched a unified banking app that works across 36 different countries (all their affiliate branches), a first of its kind that allows clients to make and receive payments across Africa. In a report first published by AllAfrica the EcoBank Group CEO Mr. Ade Ayeyemi had this to say about the app at its launch […]


Here is a list of Zimbabwean banks still accepting incoming US dollar wires into personal accounts

In case someone out there is stranded and failing not only to receive online payments for jobs done but generally incoming transfers even as an expatriate, the following are some Zimbabwean banks still accepting international incoming transfers in USD into individual accounts.


As Ecobank taps into Zimbabwean e-banking it’s leaving out 2 major blocks

Is the latest drive for e-banking from Ecobank adequate for a 2015 Zimbabwe which is a proudly informal economy? It would seem that the glaring omission from Ecobank’s strategy is an aggressive adoption of indigenous retail banking alternatives.