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RECHARGE

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New law to penalise shops not using the official exchange rate

The government published a new Statutory Instrument (SI 185 of 2020) today that spells out punishment for service providers who are not using the official exchange rates (the rates determined by the interbank) to conduct business. The SI ammendment Reads; (1) Any person who provides goods or services in Zimbabwe shall display, quote or offer […]


[Download] 2020 Mid-Term Budget Review

Finance Minister Mthuli Ncube shared his 2020 Mid-Term Budget review this afternoon. The Mid-Term Review details economic developments during the first half of the year, progress on implementation of the 2020 National Budget and also makes proposals for re-alignment of economic policy going forward. A big influence in this year’s Mid-Term review is COVID-19 which […]


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 […]


RBZ Outlaws Promoting Of “Illegal” Forex Trade In WhatsApp Groups

Another day another interesting regulatory measure by the Financial Intelligence Unit ( by extension the RBZ). This time the target being money changers operating on WhatsApp groups. Here’s the FIUs full statement: ACTION AGAINST ILLEGAL FOREIGN CURRENCY TRADING ADVERTS 1. The Financial Intelligence Unit (FIU) has been monitoring social media platforms where foreign currency dealers […]


eCommerce in the Pandemic

“We were very surprised by the appetite of consumers for products that are sometimes expensive. We were very surprised that we could find a way to make the deliveries happen. A lot more positive than negative things were happening. I’m very bullish about e-commerce in Africa because what is unique in this continent is you […]


RBZ: $10 Notes Coming Into Circulation Next Week. $20 Notes To Follow

RBZ has announced when the $10 & $20 notes will be coming into circulation. $10 notes will come into on Tuesday 19 May with the $20 notes to follow soon after – RBZ says these will be available “by the first week of June”. Alongside this announcement was another – withdrawal limits have been raised […]


Civil Servants Told To Undergo Biometric Registration If They Want Their Salaries

The issue of a biometric database for civil servants is not entirely new. President Mnangagwa and his Finance Minister have both made claims on separate occasions that this was one of the major projects to slow down governments runaway spending and subsequently improve the economy. The Public Service Commissioner Dr Vincent Hungwe has chimed in […]


RBZ “Refines” Operations of Bureau De Changes In Response To Spiralling ZWL$

Over the past two weeks, forex rates decided to take up space exploration as a hobby and have thus rocketed in a manner that has left businesses and the public in shock. The central bank is responding to all this by changing the way Bureaux De Changes operate. The RBZ has sent out a press […]


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 […]


Mthuli Ncube: Energy Projects Are Brightening Zimbabwe Economic Prospects

In today’s world, energy has revolutionised all of our lifestyles.  From the palm of our hands we have instruments more powerful than the largest and most sophisticated computers from just a few years ago. Entrepreneurs and innovators have the ability to move from rags to riches today like never before.  And with Zimbabwe’s incredible human […]


Zimbabwe, Time To Shift Strategy

Zimbabwe’s problem is not economic it’s political. Even though right now it seems like its economics, it essentially remains a political issue of confidence and TRUST. So let’s focus on the pneumonia, not the headache. Is it feasible to reach out across the aisle and find a negotiated settlement that is the panacea for the […]


Techzim Explains: What Is A Command Economy?

Over the past few weeks the phrase Command Economy has found its way into every day parlance. I highly suspect people fashioned this jibe from the phrase Command Agriculture. The thing though is that the term Command Economy actually exists. We will now examine what it means. You see in any given country the resources […]


Hello Darkness: 2019 Preview

According to Zimbabwe’s largest daily, The Herald, Zimbabweans are very optimistic about the country’s economic prospects in 2019. That’s the thing about stuff you see in the Herald- always assume the opposite of whatever you read is true and this is no exception. 2019 is going to be tougher than 2018 and Zimbabweans have been […]


[Video] Finance Minister Mthuli Ncube Speaks About Zim Economy With CNN’s Richard Quest

The Finance Minister, Mthuli Ncube had a chat with Richard Quest from CNN and in this short interview Hon Mthuli addresses the following; The Twin deficit challenge facing Zimbabwe Budget cuts to deal with the local deficit Why the government introduced the 2% tax Restructuring our debts Improving ease of doing business Also, Download: Zimbabwe 2019 […]


Podcast On President Mnangagwa’s First 100 Days. What Say Ye?

While some are convinced 100 days is not enough to measure any progress, there are some people out there I’m sure who like me think 100 days is a long time to prove to masses that we are in the right direction. Speculations aside let’s work with facts, what positive change have you seen in […]


Mthuli Ncube Claims UK Is Following In His Footsteps As They Propose Their Own Version Of 2% Tax

The UK announced their planned budget for 2020 and surprise surprise it seems they are also looking at adding a new 2% tax as well. However, their version is less ruthless than ours. The digital services tax might be implemented in 2020 in order to target established tech giants. Previously Amazon and Facebook have been […]


[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 […]


CABS Reveals The Different Types Of Foreign Currency Accounts You Can Open With Them

Two weeks ago, it was declared that there would be separate accounts for RTGS money and forex. This announcement came much to the irritation of everyone but the government did not budge and now banks are notifying customers how exactly these accounts will work. CABS has been sending customer’s information concerning the types of FCA […]


Video: Finance Minister Launches Zim’s Latest Economic Blueprint

Minister of Finance and Economic Development, Mthuli Ncube on Friday launched Zimbabwe’s latest economic blueprint, titled Transitional Stabilisation Programme (TSP). The TSP will run between 2018 and 2020 to facilitate implementation of vision 2030. Among some the measures announced by the minister he said: Budget deficit will be reduced The Civil Service will be right-sized […]


Cabinet Ministers And Other Senior Government Officials Now Required To Declare Their Wealth

The Chief Secretary to the President and Cabinet of the Republic of Zimbabwe has issued a communique to the effect that Ministers, Deputy Ministers, Permanent Secretaries and Directors within ministries are now required to declare their wealth and financial and business interests. CEO’s of parastatals, Chairpersons of commissions and heads of local authorities are among […]


What If There Was Never Any $15 Billion To Start With?

I almost wrote this article five weeks ago but I aborted mission. First, I asked myself what mining had to do with Techzim and then I was a bit scared to antagonise the readership here with nothing but my conjecture. Why have I written the article now? First, it’s about the macro economics not mining […]


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. […]


Open Letter to President Emmerson D Mnangagwa

Dear Mr President The obvious first: Congratulations on your inauguration as the third President of the Republic of Zimbabwe. I acknowledge this is a job that comes with tremendous pressure especially considering where Zimbabwe is soci-economically and the high hopes of most citizens that a change of executive will bring an immediate ease to their […]


This is Not Tech or Business but MUGABE RESIGNS

Who can resist to write such a headline? Definitely not Techzim. After 30 years as Head of State and Government and 37 years as Head of Government, Robert Mugabe has resigned. We do not have words for it here in the office and I guess non of you have either. This has been the most […]


Bitcoin has been trading at a 100% premium in Zimbabwe, will it continue to do so if things change after the military takeover?

Recently, the number one issue which made journalists from outside Zimbabwe call Techzim for a comment has been Bitcoin. Why? Bitcoin was (and still is) trading at a premium in Zimbabwe. On Tuesday the 14th of November 2017 the rate of Bitcoin against the USD in Zimbabwe was almost twice that of the international rate. […]


RBZ governor guarantees that there will be no shortage of commodities… Yes he did!

The first thing I want to point out is the last descriptive phrase that the governor uttered/wrote in his official statement. He says the Zimbabwean economy is on the mend. If he had led with that one I was not going to read the rest of the thing. The fact that his statement talks about […]


Bulawayo: The Detroit of Africa gets a digital infusion

This article was written by Clinton Mutambo, the founder and CEO of Esaja.com where it was originally posted. The city of Bulawayo (Zimbabwe) was once a regional manufacturing powerhouse. An extensive railway network coupled with bustling factories and skilled labour churned out everything from clothing to locomotives. The unfortunate and ongoing political crisis that has defined […]


Zimbabwe ranked one of the worst places in Africa to start & run a business

If you’re finding Zimbabwe a very tough place to be a startup, you can take comfort in the fact that maybe it’s not you. You just happen to be trying in a very very hard place to start and run a business!


Exclusive: Celsys, formerly listed tech and printing company, shuts down

The company was last week closed out from it’s premises after its landlord evicted it and took over most of the company’s assets apparently in a bid to recover unpaid rentals.