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Zimbabwe and regional technology news and updates

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RBZ Has A Strategy For Fintechs And Cryptos: Bureaucracy

So the Reserve Bank of Zimbabwe Governor, Dr John Mangudya delivered his Mid-term Monetary Policy Statement yesterday. In the appendices there is reference to financial technology businesses (Fintechs). The weight of fear The central bank continues to have quite an amount of fear and skepticism regarding fintechs. Here is one of the introductory paragraphs: Notwithstanding […]


Download: Mid Term Monetary Policy Sep 2019

It looks like Zimbabweans are now tired of announcements and policies from the central bank, The Reserve Bank of Zimbabwe and from treasury, The Ministry of Finance. Today’s mid term monetary policy statement delivery did not have the usual noise to it. Perhaps we are mourning Bob? Anyway, you can download the document below as […]


Here’s Why 28 Nedbank Tellers Were Arrested

Yesterday, several Nedbank employees appeared before the magistrates to answer to allegations of money laundering and fraud. Why? Apparently, more than 28 bank tellers are being accused of fleecing as much as $US 1.1 million from the South African bank. How they stole the $US 1.1 million Remember that before the Monetary Policy Statement in […]


Video: Watch BancAbc Explaining How The 2019 Monetary Policy Impacts Individuals And Businesses

During last week’s Global Money Week, BancAbc took time to share with organisations and individuals about how the 2019 Monetary Policy affects them. The discussion delved burning issues such as RTGS Dollars, Nostro accounts etc. Here’s the recording of the livestream: Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash […]


Nothing Illegal About 2 Tier Pricing, The RTGS Dollar Might Itself Be Illegal – Veritas Full Text

Below is full text from Veritas. It’s quite long but a very good read: The Governor of the Reserve Bank of Zimbabwe delivered his Monetary Policy Statement on the 20th February and, amongst other measures, announced the following: ·      Dollar balances held in local FCA bank accounts and mobile payment platforms, as well as bond notes […]


#PDF: Public Accountants And Auditor’s Board Issues Forex Guidelines

You might or might not have noticed it too but it seems a lot of businesses including banks have not been publishing their accounts in the press as they used to. By this time most entities whose trading periods end in December would have published their Audited financial statements by now. You can blame the […]


Telone Confirm That They Are Going To Increase Tariffs

Like clockwork, most large businesses have been using the RBZ’s latest Monetary Policy Statement as an excuse to hike prices and all of them are putting a spin on it.  Well, Telone are taking the same road which is becoming a well-travelled road indeed. You see the governor said all prices of goods in Zimbabwe […]


Watch: Mthuli Ncube Says To Bloomberg, Zimbabwe Is The Cheapest Buy In Africa And It Has Just Gotten Cheaper

Mthuli Ncube, our learned minister of finance is in the USA. Like he did some months back when he went there, he had a chat with economic journalists from Bloomberg. Here’s a clip: "Zimbabwe is the cheapest buy in Africa and it has just gotten cheaper…I think we are back in the game again." – […]


#Picture: Ecocash Updates Prefixes In Transaction SMS: Changes Them From USD To RTGS $

The RBZ governor willed it and now it has been done: Zimbabwe has a new currency called the RTGS $ which is now our primary currency instead of the USD we have used for the past 10 years. Ecocash wallets which used to be in USD are now explicitly in RTGS $. To make sure […]


What Are EMV Cards And Why The RBZ Wants Banks To Migrate To These

Tucked in the latest Monetary Policy was a statement by the RBZ governor that 80% of card infrastructure in Zimbabwe was EMV compliant. The governor also expressed his preference for technology as he clearly believes EMV has superpowers. Further to the cyber security guidance, market participants are required to migrate to Euro MasterCard and Visa […]


Interbank Forex Trading Goes Full Swing Tomorrow But US$5 Million Has Already Been Traded

When John Mangudya, the governor of the Reserve Bank of Zimbabwe introduced the re-instituted interbank foreign currency market, he said trading would start on the 25th of February which is tomorrow, Monday. One of the reasons could have been to make sure the legal framework is in place. The law is now there, sort of […]


When RTGS $ Are Still In The Bank They Are 1:1 With USD, Value Changes When You Want Forex – Mangudya

What a confusing statement. The governor of the Reserve Bank of Zimbabwe, John Mangudya said this: People should not get confused. In the bank, the RTGS balances have the same value with the USD but when one wants forex at the bank, then it changes and its value is determined by the rate prevailing at […]


I Am Guilty Of Taking Exporter’s Money – Mangudya

The Reserve Bank Governor, John Mangudya has just admitted that he prejudiced exporters by taking their money at an unfavorable rate regardless of the inflation rising at least 3 times since October last year. During a DailyNews Breakfast Meeting this morning, the Governor said: I am guilty as charged. Taking exporters’ money at $1:1 when […]


Are RTGS Dollars The New Currency Mthuli Ncube Promised?

On Wednesday, the Reserve Bank of Zimbabwe (RBZ) shocked Zimbabwe by redenominating bond notes, bond coins and RTGS balances (electronic money) to RTGS Dollars. This made the RTGS dollars formally exchangeable with US dollars and other foreign currencies. Despite the government not admitting that the redenomination of the RTGS dollars effectively made them a new […]


Review: Monetary Policy February 2019, We Give It A 53%

Yesterday the governor of the Reserve Bank of Zimbabwe delivered his first Monetary Policy Statement of 2019. This was one of the most awaited statements to date. That in itself is a tell tale sign of where we are in our economy, the last time a monetary policy statement delivery stopped every show in Zimbabwe […]


Here Are The Answers To All Your Questions About The RTGS Dollars

What are RTG Dollars RTGS Dollars is money made up of bond notes, bond coins and RTGS balances( electronic money). What do you have right now? What you have in your bank account or mobile money wallet or pocket right now is now called RTGS Dollars. But those who opened Foreign Currency Account (FCA), their […]


Angry, Funny and Insighful Reactions To The Monetary Policy Statement

The introduction of RTGS Dollars (Zimbabwe’s new currency) yesterday has attracted interesting opinions from both public figures and unknown persons. We have just complied some few reactions that people on Twitter had when John Mangudya announced the shocking move. Here are some: TENDAI BITI‏ @BitiTendai  1) Modern functional States are founded on #trust & #transparency .That […]


Pictures: Full Monetary Policy Statement As Delivered By John Mangudya

So we published some text of the monetary policy statement but it wasn’t in full and the PDF we got was also not in full. There seems to be a very suspicious blackout of the media to this statement. Below are images of the hard copy statement for those who care to read. Remember, what […]


Soft Copy: Zimbabwe Monetary Policy 2019 Presented By John Mangudya

The much awaited monetary policy statement presentation has come and gone in a few minutes. The document was not available for download on time so we transcribed some of the text below. However, we now have the PDF which you can download here. Establishment of an Inter-bank Foreign Exchange Market The Bank has taken note […]


Download Zimbabwe Monetary Policy February 2019 (Full 68 Paged Version UPDATED)

The much awaited Monetary Policy Statement presentation for the year 2019 has happened. Below is the link to download the document to read for yourself. There seems to be a media blackout of sorts and the only document we had available was 3 pages long Now the RBZ has released the full version for download. […]


Follow The Monetary Policy Statement Presentation Today (At 14:00 Hrs) On These Platforms

Today is the day we all have been waiting for since February started as we shall see the RBZ Governor, John Mangudya presenting the Monetary Policy Statement. Although the RBZ has already dismissed rumors that it’s going to introduce a new currency, some people (including me) have a feeling that some ‘sinister thing’ will be […]