Techzim

Zimbabwe and regional technology news and updates

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RECHARGE


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.


RBZ confirms introduction of $50 banknote but denies $100 & $200

The Reserve Bank of Zimbabwe has acknowledged the reports of a $50 banknote that is set to come but has denied plans for $100 & $200 banknotes..


[Full Text] Monetary Policy Committee statement on refinements to Forex Auction System

The Reserve Bank of Zimbabwe’s Monetary Policy Committee (MPC) has held deliberations on how to improve and sustain the Forex Auction.


Due to the lockdown, RTGS operating times have changed

In a tweet by First Capital Bank, RTGS operating times have been changed as per guidance from the Reserve Bank of Zimbabwe.


Despite COVID-19, money sent to Zim from the diaspora is up by 48%

The pandemic has not slowed the flow of money coming from the diaspora, according to the latest figures by RBZ remittances are up by 48%


New ZW$35k limit for mobile money is a decent improvement – Here’s how RBZ and service providers can make it consumer-friendly

So yesterday, it was announced that the ZW$5000 daily limit for transacting has been lifted. In its place will be a ZW$35 000 weekly limit which you can exhaust in one day if you want. Whilst this is an improvement on what was in place there are still too many potential problems that could arise […]


Forex Auction results, Zim dollar nudges up slightly. Rate at 81.4965

Forex auction results for 22 of September 2020 are in and the Zim dollar has continued it’s “upward” trend. The weighted average this week has made a small improvement from ZWL$81.7076 last week to ZWL$81.4965 this week. Full Forex Auction Results 22 September 2020 are as follows: SME Auction #8 Main Auction #14 Amount Allotted […]


Forex Auction, Zim dollar sees another week on the up. Rate at 81.7076

The Forex Auction results for 15/09/20 are in and the Zimbabwe dollar has yet again seen an upturn. This week the weighted median average is ZWL$81.7076 which is a ZWL$0.9917 gain from last week’s rate of ZWL$82.6993. The climb is much more substantial than last week’s ZWL$0.6216 from the rate the week before which sat […]


Foreign Exchange Auction, Zim dollar makes a marginal gain, rate at 83.32

The combined SMEs and Main Foreign Exchange Auction has concluded. This week the local currency made a marginal gain with weighted average sitting at ZWL$83.3209. Last week weighted average and effectively the rate sat at ZWL$83.3994 which is a very small uptick of ZWL$0.0785. This is the first time that there has been a bounceback […]


OneMoney follows EcoCash and effects ZW$5000 daily transaction limit

Many people were wondering if OneMoney and Telecash would all be subjected to the same regulations that were recently put into effect by EcoCash. Well, OneMoney is the second mobile money operator to effect the ZW$5000/daily transaction limit. NetOne subscribers received the message below this morning; Dear Customer. Following a RBZ directive, OneMoney transactions are […]


RBZ & Udugu hosting COVID-19 Fintech Hackathon. Apply here

Jointly held by the Reserve Bank of Zimbabwe (RBZ) & Udugu Institute the COVID-19 Fintech Hackathon aims to use Fintech to address the pandemic’s effects on healthcare, digital payments and economic recovery.  The hackathon taking place from 28 to 29 August will be held virtually. It’s open to anyone with a programming or business background. Sign up […]


Banks ordered to submit cybersecurity risk policies before October ends

The Reserve Bank of Zimbabwe has urged local banks to update their cyber risk management policies in the face of COVID-19. Ok, that’s a bit misleading. RBZ says since digital transactions are increasing during the pandemic banks have to bolster their security. Accelerated digitisation by banking institutions in the wake of COVID-19 and the remote […]