Techzim

Zimbabwe and regional technology news and updates

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RECHARGE


EcoCash “currency manipulation” probe delays Cassava Smartech financial report

Cassava Smartech announced that they have delayed the release of their audited financial statements for fiscal year-end February 2020. They made this announcement to shareholders citing that the delay is being caused by the “regulatory review” of one of the company’s key holdings EcoCash. The previously mentioned regulatory review is a currency manipulation investigation being […]


You Can Now Do More Than Two Bank Transfers A Day. RBZ Reverses Decision.

The Financial Intelligence Unit (FIU) an agency of the Reserve Bank of Zimbabwe has reversed it decision issued on June 4th. The directive issued was to limit the number of internal bank transfers to 2 a day. The turn around came after Members of The Bankers Association of Zimbabwe made an appeal to the Reserve […]


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 […]


[Update] EcoCash Merchant To Agent & A Host Of Other Transactions Blocked By FIU!

EcoCash seems to have blocked Merchant to Agent transactions though it’s not exactly clear what their reason for doing so is at the time of writing. The first hunch would be that this is yet another directive from the RBZ but if it is it’s a bit strange that the RBZ has not shared that […]


ZIPIT Given Directive To Place Monthly Limits Similar To EcoCash By RBZ

First it was EcoCash and now ZIPIT is getting the same treatment. The Financial Intelligence Unit (previously an arm of the RBZ but now operating independently) has issued a directive to ZIPIT CEO Cyril Nyatsanza placing a daily and monthly limit on ZIPIT transactions. The Directive dated 27 May reads; It’s no surprise that the […]