Techzim

Zimbabwe and regional technology news and updates

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Monetary Policy Committee says Individuals can now transact up to US$50 per week via Bureau de Changes

These days the ZWL official rate is more or less stable and the government has also stopped rocking the boat with the rash policies like the infamous Statutory Instrument 127 of 2021. However, the Monetary Policy Committee which is responsible for crafting some of these policies is still very much in existence. Recently they met […]


Remittances up by 73% from the recorded figure this time last year!

Remittances look on course to breaking the US$1 billion and some change record that was set last year. According to the Reserve Bank of Zimbabwe’s (RBZ) Mid-Term Monetary Policy Statement, remittance figures are up by 73% at US$649 million from the US$374 million that was recorded over the same period last year. Inflows January to […]


58 fintech firms have registered for the RBZ’s Regulatory Sandbox

In an effort to bring new technologies into the fold the Reserve Bank of Zimbabwe (RBZ) initiated a Fintech Regulatory Sandbox. This platform is a sanitary and controlled environment that the central bank and institutions can experiment with innovations across the payments and financial space. There has been an update on the progress of the […]


Eddie Cross: Zim should have a 5% transaction tax, halve PAYE & no company tax

I was joined yet again by Economist and former member of the Reserve Bank of Zimbabwe’s Monetary Policy Committee Eddie Cross to talk about financing a nation, tax collection and administration as well as electronic transactions You can play or download the podcast with the link below. Alternatively, you can download the podcast on WhatsApp […]


Eddie Cross: I’m excited about the Zim economy

Today I was joined by the former member of the Reserve Bank of Zimbabwe’s Monetary Policy Committee, Eddie Cross. We explored the recently launched ZWL $50 note, the contrast in policy and environment from Rhodesia to present-day Zimbabwe. The forex auction system and if it has been a success, his current capacity in financial policymaking […]


New ZWL $50 note comes into the market almost valueless

Earlier this year, former member of the Reserve Bank of Zimbabwe’s (RBZ) Monetary Policy Committee Eddie Cross said that Zimbabwe will soon get a ZWL $50, $100 and $200 note. “The only new note which is due to come in shortly is the $50 note, and I’m not certain when that is going to be […]


RBZ introduces ZWL $50 note into circulation

The Reserve Bank of Zimbabwe (RBZ) has announced the introduction of the ZWL $50 (fifty dollar) note into circulation. “The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that the ZW $50 (fifty dollar) banknote issued on 6 July 2021 through Statutory Instrument 196 of 2021 will be introduced into circulation on […]


RTGS cutoff time revised because of new COVID-19 measures

On Tuesday President Emmerson Mnangagwa announced that the country would be moving to Level 4 lockdown measures because of the increasing numbers of COVID-19 cases. In line with the new restrictions, the cutoff time for RTGS transfers has been adjusted according to a tweet by NMB Bank. To our Valued Clients, kindly be advised of […]


RBZ now working on securing your USD deposits

The Reserve Bank of Zimbabwe (RBZ) today released a statement outlining the deliberations of its Monetary Policy Committee. The document outlines the strides that the Reserve Bank has noted in the economy but also included mention of the RBZ working on securing USD deposits via the Deposit Protection Corporation (DPC). The full statement by the […]


Your USD deposits at the bank are not protected

Members of the National Mattress Bankers Union of Zimbabwe won’t be too surprised by this… It appears that if you make a USD or Forex deposit into your NOSTRO account there is nothing to protect you as a depositor if the bank goes belly up. Now the organisation that deals with this primarily is the […]


RBZ Fintech Sandbox applications are still open

Back in March, the Reserve Bank of Zimbabwe (RBZ) announced the launch of its Fintech Regulatory Sandbox. This platform is a way for the central bank and the country’s financial institutions to mix and mingle with innovators and startups in the fintech space. When we reported on it earlier this year we were disappointed by […]


RBZ orders banks to surrender excess cash with immediate effect

The Reserve Bank of Zimbabwe (RBZ) has ordered all banks to surrender their excess cash or liquidity. For this, the banks will get Non-negotiable Certificates of Deposit (CDs) yielding no interest with effect from the 4th of June 2021. Players in the financial sector have sounded the alarm after the central bank directed banks to […]


One week of SI 127: experts & armchair economists were right

This time last week we got the news that the government had issued Statutory Instrument 127 of 2021. In SI 127 are a raft of new measures that govern the rules of forex in the country not only for those participating in RBZ’s Forex Auction but for the nation at large. And as I am […]


RBZ “SI 127 is not designed to harm business”

In some near midnight tweeting, the Reserve Bank of Zimbabwe (RBZ) posted a thread clarifying Statutory Instrument 127 of 2021 (SI 127 of 2021). Here’s what the central bank had to say: SI 127 more about the Forex Auction participants according to the RBZ Some points to note on S.I 127 of 2021: The purpose […]


SI 127 is going to increase ZWL$ prices & encourage black market conversions

Yesterday the government announced SI 127 of 2021 which put new rules and penalties of forex use. The Statutory Instrument looks like it was designed to stop businesses from pricing goods and services above the auction-rate more than anything else… The response by businesses as we saw in a tweet by journalist Hopewell Chin’ono is […]


RBZ’s planned deposit incentives won’t stop mattress banking

The Reserve Bank of Zimbabwe (RBZ) has, according to a report by the Herald, said that it is working with the banking sector to create incentives that will entice people to deposit money in to their accounts. “We are working on incentives together with the Bankers Association of Zimbabwe to encourage people to make deposits. […]


How to buy Bitcoin & other cryptocurrencies in Zimbabwe in 2021

Establish trust and be very careful…


Will rates fall & the black market die now that Bureaux de Change can now sell forex to individuals?

A hail Mary, wise decision or is this the RBZ trying to stop a hurricane with an electric fan?


RBZ releases an additional list of Forex Auction beneficiaries

91.019% listed with nearly 60 million classified as other.


Top 100 beneficiaries of the RBZ forex auction

The top 100 only made up 45% of the nearly US$640 million that has been autioned…. hmm…


RBZ warns traders & retailers to accept ZWL$5 note or else…

The Reserve Bank of ZImbabwe (RBZ) has issued a statement warning traders, vendors & retailers to accept the ZWL$5 note or answer to the FIU


Watch: Breakdown of the recently released Monetary Policy Statement

Monetary Policy Statement breakdown with RBZ Governor Dr John Mangudya


Mthuli Ncube appoints new Monetary Policy Committee

Minister for Finance Mthuli Ncube has appointed a new Monetary Policy Committee which replace the one that was shut down at the end of January


Who was in the recently dissolved Monetary Policy Committee?

Following the announcement of the dissolution of the Monetary Policy Committee (MPC) we thought it would be interesting to look at who made up the old committee.


RBZ dissolves Monetary Policy Committee

The Reserve Bank of Zimbabwe (RBZ) has announced that it has dissolved the Monetary Policy Committee (MPC). New one to be appointed soon.


Eddie Cross has quit his post at the RBZ

Eddie Cross has stepped away from his position in the Reserve Bank of Zimbabwe’s (RBZ) Monetary Policy Committee.


[Download] Monetary Policy Statement, February 2021

Download the recently published and first Reserve Bank of Zimbabwe (RBZ) Monetary Policy Statement (MPS) for February 18th 2021


Remittances to Zimbabwe increased by over 42% in 2020

According to the Reserve Bank of Zimbabwe, remittances stood at just over US$1 billion in 2020 making it the gughest figure ever recorded in a single year.