Techzim

Zimbabwe and regional technology news and updates

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Hypocrisy: Gvt Wants Banks, Mobile Money To Reduce Fees But They Won’t Touch 2% Tax

Transacting is crazy expensive in Zimbabwe. In his communique on measure to ‘stabilise’ the financial sector during the COVID 19 pandemic the RBZ governor talked about the cost of transactions needing to stay the same or go down: The Bank also agreed with the banking sector to suspend increases in charges related to the provision […]


CBZ Surprises Customers By Promising To Lower POS Charges

CBZ took to Twitter to assure their customers that they were hearing their cries. Considering the fact banks have been steadily raising charges over the last year, it came as a welcome surprise when CBZ announced that they would be lowering their charges. We have heard, we have listened and we have complied. To our […]


Standard Chartered Bank Increases Fees, Now Charging You For Depositing Dirty USD Notes!

Standard Chartered Bank has notified customers of increases on a number of fees they levy. The bank says this has been necessitated by increases in pricing by some of their service providers. The fee changes are for their ‘Priority Banking’ customers. Here are the fees that have changed: Headlines Your dirty money is gonna cost […]


Quick Math: Transacting In Zimbabwe Is Now Above 3 000% More Expensive On Average

Generally there is outrage against the newly announced transaction tax on every electronic funds transfer transaction. The Minister of Finance, Mthuli Ncube adjusted the cut that government gets whenever we move funds around from a flat 5c per transaction to 2% of the amount being moved. Of course it’s clear that this is going to […]


Here’s how to transfer money without paying heavy bank & EcoCash charges

Even after the recent downward review of the bank charges, the truth is that RTGSs (and people looking to access their cash have to make a lot of them) at $3 a transaction, are still quite expensive to do. And ofcourse EcoCash still charges the sender up to $7 for a $100 transfer to an unregistered number […]


EcoCash Hack: Here’s how you can pay less transaction fees

I went to an EcoCash Agent to withdraw the $60 I needed to buy a ticket for the Startup Weekend. I had $62 in my EcoCash wallet in my EcoCash wallet then. When I tried to make a withdrawal, I got this message: I didn’t realise that the transaction fee for withdrawing $60 is $2.30 […]