Zimbabwe and regional technology news and updates



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Steward Bank can’t shake it off but recovers remarkably from half year loss

Econet Wireless owned “tech bank” Steward Bank has recorded a loss of $26.3 million for the operating year ended March 2014. Econet Wireless announced this in a media release and the parent company is confident that Steward Bank “would soon turn to profitability”. Although the loss indicates that Steward Bank is not out of the woods […]

Latest Techzim podcast: Steward Bank, WhatsApp, Nokia-Microsoft Deal & more

Thanks again for joining us for this Techzim podcast. This time around we engaged in lengthy conversations on the alleged retrenchments at Steward Bank, WhatsApp reaching half a billion users and the Microsoft’s purchase of Nokia. We also discussed George Chingore’s story on patenting the Protronics airtime vending machine and a host of other tech […]

Steward Bank retrenchments strategic or late response to $24 million loss

The Herald yesterday reported that Steward Bank is closing 8 branches and consequently retrenching scores of employees. The Herald report does not give an indication of the timelines nor any official comment from Steward Bank and I am afraid that’s still the way it is. Our unofficial sources close to the bank collaborate the explanation given […]

How mobile micro-credit loan schemes can devastate our economy – Part 2

Taxing the informal sector, like our government is preparing to do will only eat further into the already small incomes of informally employed members of our society, forcing them to rely more on micro-credit as a means of coping with poverty. This will likely result in a largely poor population that is stuck in debt. […]

How mobile micro-credit loan schemes can devastate our economy – Part 1

A lot has been said here at Techzim and other places about Econet’s foray into mobile micro-finance. As is the custom with anything that Econet Wireless does these days, there has been some suspicion and general skepticism about what EcoCashLoans means for Zimbabwe, some of it has been unjustified. For that reason, I feel that […]

A bit more information on EcoCashLoans in case you’re still in the dark

A few weeks after the EcoCashLoans launch, a lot of people still have some questions on how the service really works. On their part, both Econet Services and Steward Bank have surprisingly done relatively very little to publicise their new product and hence a lot has been left to speculation and trial and error. We […]

Latest Techzim podcast: EcoCashLoans, airtime vending machine, mobile OS stats

Thanks for joining us for the latest Techzim podcast. In this edition, we zeroed in on the top stories that made it to We discussed the EcoCashLoans, the marvelous locally developed airtime vending machine, the mobiles OS stats, and the most visited local websites via Opera Mini. The viral Happy Harare video is also […]

EcoCashLoans – Game changer? Opportunity or Threat? For who?

With the launch today of EcoCash Loans, following in quick succession from EcoCashSave accounts, Econet wireless has yet again read from the M-Pesa script to be the dominant financial services provider in Zimbabwe. EcoCash is a bank, with the largest number of customers at 3.5M registered users. Having shaken up the financial services market with […]

EcoCashLoans now available to EcoCashSave customers with zero interest

Econet Services has officially launched a new product called EcoCashLoans, an extension of EcoCashSave at an event held at Holiday Inn in Harare this morning. EcoCashLoans, just like EcoCashSave will be administered by Steward Bank. EcoCashLoans is a service that allows EcoCashSave customers to borrow amounts from $5 to $500. Initially, the EcoCashLoans tenure will […]