Zimbabwe and regional technology news and updates



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RBZ to clamp down on ZW$ card swipe for USD money changers

The Reserve Bank of Zimbabwe’s (RBZ) Financial Intelligence Unit (FIU) has put out a directive for banks to report those who are using local currency card swipe transactions to facilitate illegal USD exchanges. The statement by the FIU on card swipe for USD forex deals is as follows: ABUSE OF DEBIT CARDS TO FACILITATE ILLEGAL […]

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 […]

RBZ Orders Banks To Freeze EcoCash, OneMoney Agents Suspected Of Illicit Forex Deals

The RBZs Financial Intelligence Unit has directed all banks to freeze bank accounts linked to Mobile Money Agents listed in a note that was leaked to the media. Acting Director-General Financial Intelligence Unit Oliver Chiperesa ordered banks to freeze, with immediate effect, all Ecocash and OneMoney agents suspected of involvement in money laundering. Read the […] Gives Hourly Updates Of Current Forex Rates

Right now our economy seems to be revolving solely on what is happening in the foreign currency markets. Shops are increasing prices because the forex they need to stock is available on a drip-feed and thus everyone else is pricing upwards or exclusively in USD. Because this is the case, keeping up with the USD […]