Techzim

Zimbabwe and regional technology news and updates

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RECHARGE


Video: WhatsApp reacts to RBZ law banning money changing ads on social media

The RBZ through the Financial Intelligence Unit recently issued a directive that makes it illegal for one to advertise their money changing services on social media. This is was the reaction from WhatsApp. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash number: Buy Please dial our USSD code *405# […]


RBZ Approves Use Of US$ As Part Of Emergency Response To Coronavirus

Zimbabwe’s central bank, known for spectacular u-turns has once again flip-flopped on policy. A circular sent out in the last few minutes declares that Zimbabweans can once again use the United States Dollar as legal tender; The circular claims that this will make it “easier for the transacting public to conduct business during this difficult […]


Updated: RBZ Says You Can Get Paid In Forex But You Won’t Be Able To Withdraw Your Funds

An instruction circular from the RBZ to FBC’s management to its staff has leaked and the circular focuses on “Employees Salaries Payments in USD“. The instruction is on the back of what appears to be some regulatory changes at the RBZ. The circular notes that in some instances the RBZ can allow a company to […]


Vaya Working On USD Payment Option

If you update your Vaya Africa application to the latest version available in the Google Play Store, you might have stumbled upon the USD payment option which is now part of the application. At the time of writing this option is giving customers the same prices for RTGS$ and USD but this might change once […]


Money Transfer Agents Running Out Of Cash, You Can Blame Sanctions!

When you see the list of things Zimbabwe imports it’s hard for you not to wonder: Is there something this country does not import? I mean we import everything from razor blades to matches. Now you can add another thing to the list: USD currency. Yes, we import those flashy dollar bills and most of […]


Local Nostro Settlement System To Go Live Soon

While parsing the latest Monetary Policy statement from the RBZ something caught my eye: hidden beneath the exciting announcement that the RBZ has finally found Jesus and accepts bond notes, RTGS and USD are not equal peers, was the announcement of a local settlement platform. This was announced a few weeks ago A few weeks […]


Confederation of Zimbabwe Industries Is Right: It’s True Dollarisation Is Bad For Our Economy

It is not a secret that I am not a fan of the current government’s economic policies and choices. I especially find it reprehensible that they continue to avoid solving the prevailing currency crisis choosing to focus instead on bizarre projects such as building a new capital city- talk about fiddling while Rome is burning. […]


Government Dissuades Delta From Charging In Forex Only For Now

I have got to hand it to Delta Beverages, they know how to negotiate with the Zimbabwean government. They cooked up a storm when they sent out a circular to various stakeholders telling them that starting today drinks would be paid for using real US dollars instead of vanity money ( RTGS/Ecocash and Bonds). In […]


Perm Sec In Ministry Of Finance Says Separation Of FCA/RTGS Accounts Was Done To Protect Exporters & Remittances

The separation of foreign currency accounts and real time gross settlement accounts came as quite the surprise to most of us. For years we had been told that bond notes and USD’s are equal but on the ground no one bought into the pipedream and because that was the case USD supply dried up whilst […]


Prices Now Valid For 24 Hours In Certain Shops As Bond To USD Rate Spikes

Over the past two weeks the Bond/USD rate has spiked from around fifty-something percent to over a 100% and the shops are beginning to react. This most recent spike places sellers between a rock and a hard place because they have to price their goods accordingly and these prices may not look appealing to buyers. […]


RBZ Releases More Forex, 2 Weeks After Stopping Disbursing It: Hopes To Put Moneychangers Out Of “Business”

Following the recent sharp increase of cash burning rate, the Reserve Bank of Zimbabwe (RBZ) has decided to increase foreign currency (forex) in the economy by a further $50 million to tame this rate. Cash Burning is essentially a form of selling hard cash US dollars (USD) on the black market to those who are desperate […]


Zimbabwe’s Three-Tier System Affects Business For Real Estate Agents

Real estate agents are complaining that the three-tier pricing system in Zimbabwe is affecting the property market as it results in properties being valued at low prices. This means that real estate agents now generate low income. The three-tier pricing system is whereby one is charged different prices for the same commodity, all based on the […]


USA Tells Zimbabwe To Drop USD And Use Its Own Currency

“Zimbabwe used to be the bread basket of Africa” Boy, am I tired of that statement. I’m tired of us reminiscing on the good old days. At least now thankfully, I won’t have to continuously endure the “lest we forget” statement that always used to be thrown at us each time some kinda propaganda needed […]


US Dollars Return To Banks And ATMs…

Information that is circulating online is indicating that the US dollar has made its way back to the economy. For some who are out of the country this may seem to be silly news, but for the past few months seeing a $20 note was a rarity that could necessitate the family head to summon everyone […]


When confronted about the rampant ‘illegal’ cash sales in Zimbabwe, this is what the minister had to say…

So back in Uni whenever we’d get to the deadline of an assignment and realise that we haven’t actually completed (or even started) the assignment we had two options; we could either look confused or lazy. Confused was more like “I had no idea there was an assignment due” or “I had no idea what […]


Taking advantage of the weak Rand

Recently during an eNCA broadcast there was quite an extensive talk about the depreciation of the Rand against the dollar. What this simply means is that you now need more Rands to buy one dollar than what you previously needed. The purists must know that not only has the Rand depreciated against the dollar but the […]