Techzim

Zimbabwe and regional technology news and updates

advertisement
advertisement

RECHARGE

Nyaradzo logo


EcoCash urges subscribers with multiple accounts to move funds by 25 September

Earlier this month, EcoCash announced that the deadline for moving funds for multiple account holders to one account was going to be 6 September. It seems a significant number of people missed the initial deadline and so they’ve extended it to the 25th. EcoCash users with multiple accounts will have to move them to a […]


President ED – State had to act against EcoCash because $8.4 billion was circulating outside the banking system

President Mnangagwa recently addressed a ZANU-PF Committee in Gweru and in that address he spoke on the long-running feud between EcoCash and the state. The President had some interesting things to say about the mobile money operator which has been accused by the financial regulator and state officials of being behind runaway inflation. We realised […]


Win US$1K by composing a song for EcoCash

EcoCash is hosting a social media singing competition that will see the winner walk away with US$1000. The song will probably be used for marketing purposes as the entries that will be considered should be themed around living life the EcoCash way. So what do you do, if you want to participate? Follow these steps; […]


EcoCash blood in the water, who will take advantage?

The payments space is in for some very big changes. Some of these changes we may be able to see. Others we can speculate on and there are others that are beyond the horizon. EcoCash, which seemed almost like a utility, is about to be equalised. The levelling of the playing field hasn’t come because […]


EcoCash sets deadline for multiple accounts for the 6th of September 2020

In adherence to the Monetary Policy Statement put out by the Reserve Bank of Zimbabwe. Individuals are no longer allowed to have multiple EcoCash accounts. In a message sent out to customers Ecocash said the following: Public Announcement If you have 2 or more EcoCash lines dial *150# option 5 to select your primary wallet […]


You can now buy ZESA tokens on credit using EcoCash

EcoCash recently made it possible to buy ZESA tokens on credit. By simpling dialling *179# you can access the new service. You can get ZESA tokens on credit valued at ZW$50 using the service and you’ll back at 26% interest. This means you’ll pay back ZW$63 bucks for your ZW$50 token. The interest seems a […]


Beware! Scammers promising to upgrade daily EcoCash account limits

The RBZ recently placed stricter regulations on mobile money service providers. You may have heard that you can no longer transact over ZW$5000 daily. Interestingly, we came across a WhatsApp message that we believe is a scam. It claims that you can actually upgrade your EcoCash account and once you have done so you’ll be […]


OneMoney follows EcoCash and effects ZW$5000 daily transaction limit

Many people were wondering if OneMoney and Telecash would all be subjected to the same regulations that were recently put into effect by EcoCash. Well, OneMoney is the second mobile money operator to effect the ZW$5000/daily transaction limit. NetOne subscribers received the message below this morning; Dear Customer. Following a RBZ directive, OneMoney transactions are […]


Video: EcoCash sets daily limit at Z$5000. Who is hit hardest?

RBZ issued a monetary statement directing mobile money wallets to suspend agent accounts and set a daily limit of Z$5000. In this video we look at what this means for the average Zimbabwean as well as who is most affected. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or […]


EcoCash Payroll and OnePay under threat as RBZ directive suggests banning of salary processing

EcoCash Payroll and NetOne’s OnePay solution pretty much solve the same problem – allowing businesses to pay their employees salaries. The RBZs recent pronouncements in the Monetary Policy statement indicate that payroll services face existential threat. In the Monetary Policy Statement, RBZ says the following; Mobile payment operators have been turning a blind eye and […]


What can you buy with the ZWL$5000 EcoCash limit?

In abiding by the Reserve Bank of Zimbabwe’s directives, EcoCash has instituted a ZWL$5000.00 a day limit on transactions. The outline of how this will affect daily transactions is as follows: “Transactions by all individuals shall be pegged at a maximum of ZWS5,000 (five thousand Zimbabwe dollars) per day with immediate effect. This threshold relates […]


2 Ecocash accounts? The less active one will be closed

Last week, we reported that the RBZ had announced with immediate effect that each individual would be allowed to only have one mobile money account. This means individuals with multiple EcoCash accounts will be affected. The question that immediately came up was simple. “If I have two accounts which one will be closed?” Well, the […]


EcoCash limits transactions to $5000 per day

In accordance with the Reserve Bank of Zimbabwe’s Monetary Policy Statement on Friday EcoCash put out the following press release: EcoCashNotice to All EcoCash CustomersDear Valued CustomersPlease be advised that we have received a directive from the Reserve Bank of Zimbabwe to the following effect; 1. Transactions by all individuals shall be pegged at a […]


Econet employee blocks subscriber’s number after black market deal goes wrong?

We’ve written about the black market for eLearning bundles a couple of times now. In fact, we’ve done so on four different occasions now. Most recently we noted that fraudsters were selling eLearning bundles and then not giving buyers the data. Whilst buying eLearning bundles from this black market has always come with an inherent […]


RBZ details faults of mobile money services which led to regulatory pressure

Zimbabwe’s Central Bank (aka RBZ) has been on a war path with mobile money services (mainly EcoCash) for most of the year. RBZ firmly believes EcoCash and other mobile money services have led to the currency instability in Zimbabwe. After some court battles and tightening of mobile money regulations, mobile money in Zimbabwe looks much […]


Agent lines banned by RBZ as “they no longer serve any legitimate purpose”

Earlier today, the RBZ published the Monetary Policy Statement and there are a number of pretty shocking declarations. One of which is that agents lines are officially a thing of the past. The same document also outlines that mobile money wallets will now be limited to one per individual. RIP agents (2011-2020) Agents have been […]


No, you can’t send money from EcoCash to OneMoney yet

On the 9th of July, the Reserve Bank of Zimbabwe issued a directive that made ZimSwitch the national payments switch. This meant that EcoCash was going to be relegated to being just another wallet. ZimSwitch as the national switch for Mobile Money means that one can essentially send money from EcoCash to OneMoney or Telecash […]


EcoCash has increased tariffs

EcoCash charges have been reviewed upwards. This follows a change made in March this year. The assumption is that the company has finally been given the green to increase the charges, as this is regulated by the Reserve of Zimbabwe. Here are some quick example of what you should expect to pay in fees for […]


Econet CEO – Issuance of search warrants one of the tools used by state to interfere with rights

The court documentation filed by Econet as part of their Urgent Chamber Application to temporarily suspend the Magistrate Court’s decision to issue a Search and Seizure warranty to the ZRP makes for interesting reading. Econet Wireless’ Chief Executive Officer, Douglas Mboweni has a written statement that is part of the Urgent Chamber application and in […]


Warrant permitting ZRP to raid Econet unconstitutional – Fadzayi Mahere

On Friday, the Magistrate’s court issued a search and seizure warrant giving the ZRP permission to raid Econet Wireless offices. The Criminal Investigation Department sought the warrant on the basis that they suspect Econet Wireless to be “involved in money laundering”. In fact, the allegations are that Econet Wireless and subsidiaries created and issued “non-attributable […]


Full Text: Veritas says banning of ZSE & Mobile Money illegal

Over the past month, Zimbabwe Stock Exchange and mobile money platforms have come under scrutiny from the government. This scrutiny came to a head when the Permanent Secretary of the Ministry of Information announced a ban and temporary closure of both ZSE and mobile money in the country. All entities affected by the ban came […]


“ZANU PF commends gvt for allowing ‘EcoCash’ to be overseen by RBZ through Zimswitch”

The title of this article is a paraphrase of part of the statement issued by ZANU PF today commenting on the economy. Here is the actual excerpt: ZANU PF also wishes to commend government for the decision that it has taken to allow mobile money operators to be overseen by the Reserve Bank of Zimbabwe […]


Killing monopoly by creating a bigger monopoly, Zimswitch as national switch

Yes EcoCash is too dominant. It had above 98% share of all mobile money transactions in the first quarter of 2020 which translates to above 80% of all transactions in Zimbabwe period. The word monopoly is a fair one. The RBZ wants to do something about that Yesterday, Zimbabwe’s central bank issued a communique which […]


Video: EcoCash to be integrated to Zimswitch. What does it mean?

RBZ announced that Zimswitch is now Zimbabwe’s national payment switch and that all monetary service providers are directed to integrate with it. What does this mean to me the customer? Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney number: Buy Please dial our USSD code *405# on […]


Zimswitch: a quick refresher on what it is and what it does

The Reserve Bank this afternoon issued a statement that made Zimswitch the national payment switch. This means that EcoCash will be relegated to just being wallet and will have to use Zimswitch as the universal transaction hub. Now, as more information about this comes out, and we see how EcoCash responds to this. Let’s have […]


With a national switch on the way, EcoCash needs to focus on innovation now more than ever

A few days ago, my colleague Tinashe wrote an article about EcoCash and the Econet group’s need to innovate build compelling products. Today the RBZ announced that ZimSwitch is going to assume the role of the national switch and EcoCash will be required to be interoperable with this switch. Given all this, I thought it […]


Econet is back, normal service restored

Econet seems to have worked out all the issues they were experiencing. Last night there was a nationwide blackout of voice and data services. Econet had last night said that their technicians were working to solve the problem. As of this morning, calls and data services were working. They released a press statement this morning […]


EcoCash & banks can’t magically create balances

A friend brought up a question recently, can’t a software developer at EcoCash just create a balance in their account. Then, said developer can go buy a shiny new Lamborghini Gallardo LP460? (I may be adding a bit of sweetening but you get the point). A soccer analogy Let us talk about soccer for a […]


Econet say Ecocash airtime and bundles recharge still being worked on

Yesterday Econet Wireless went dark nationwide. They seem to have restored services for calls and data. However, they are still working through issues with Ecocash airtime and bundles purchases through their USSD platforms. NOTICE TO CUSTOMERS Dear Valued CustomerWe regret to advise that you may face recharging challenges on *151# (Ecocash) or *143#. As we […]


EcoCash is under threat – gvt to blame BUT underlying problem is EcoCash/Cassava/Econet

Yesterday a colleague mentioned that they were denied using EcoCash at a service station. All other forms of payment were acceptable except EcoCash. This didn’t surprise me. First let’s make sure those who have been living under a rock are caught up: On Friday the 26th of June 2020, the Government of Zimbabwe declared that […]