If you’re in Zimbabwe you know how crazy the past several months have been financially. Essentially, not enough cash to withdraw from the banks; A new currency called Bond Notes was introduced, which slowed down but didn’t solve the liquidity problem; Zimbabwe issued bank cards not working outside Zimbabwe anymore; not all local merchants accept […]
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Finally, a Fintech event: Banking & Finance problems in Zimbabwe. What are the tech solutions?
Local Bitcoin exchange BitCoinFundi says it processed about US $100,000 worth of transactions in 2016. The exchange founder and CEO, Tawanda Kembo, says they have been growing their total transaction value by about 16% month on month and are looking to reach $1 million annual transactions by 2018. Kembo was speaking at an event hosted by the Computer Society of […]
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Local Bitcoin exchange says it processed US $100,000 in 2016. Targets $1M by 2018
The current liquidity crisis in Zimbabwe has hit mobile money really hard. A report by the telecoms regulator in Zimbabwe, POTRAZ, says mobile money transactions in the last quarter of 2016, October to December, dropped 35% from the previous quarter. Since 99% of all the mobile money transactions in country are EcoCash transactions, mobile money in […]
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A drastic 35% drop in Ecocash cash-ins and cash-outs in just 3 months (report)
Over the last couple of months a lot has been happening on the money side. Techzim has covered it extensively here but still we’re yet to see someone take time out and spell it all out for us – this is me doing it for myself and hopefully one, maybe two people will benefit. The Reserve Bank […]
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The 4, maybe 5, types of money in Zimbabwe…
Another financial institution in Zimbabwe has revised their conditions for DStv payments, effectively limiting them. CABS, the largest building society in the country, announced this month that it would no longer allow non-account holders to make DStv payments through it. They also announced that their customers will only be able to make a single payment […]
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CABS revises DStv payment limits. Other ways to pay DStv
Fridays were not meant to be ordinary yet here on Techzim they have been almost just that. Not anymore. Starting this Friday, we now feature a unique deal every Friday. How does that work? We will feature one gadget (well does not need to be a gadget every time). We will look around for as […]
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Introducing Deals Friday
Selfie sticks are now a modern age accessory offering a new angle towards self portrait photography. Now there are many many selfie sticks out there of all varieties but the common flaw has been they are not universal. It can work well on Android devices but end up killing an iPhone. Amplify however now comes […]
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Friday Deal: Bluetooth remote controlled selfie stick by Amplify
Local financial institution, FBC Holdings, made $21.9 million after tax profit in 2016, according to the company’s financial results announced yesterday. The bank joins other banks in presenting very positive financials for last year, despite harsh economic conditions for companies and consumers especially around the lack of cash at banks. FBC’s after tax profit is up 21% from the previous year. The […]
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FBC in $21.9 million profit
It’s that time of the year when banks are announcing their annual financial results. So far, CABS, POSB, EcoBank and FBC have all reported profits. The only bank that didn’t make a profit is NBS, understandably because the bank is new. Here’s a list of the banks and the profits they made in 2016. More banks will be […]
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What the banks made in 2016. Here’s a list of some Zimbabwe’s most profitable banks
The past several months have been quite bad for some Steward Bank customers. Some of the bank’s technology platforms have been going offline without explanation. Some customers have complained that their account balances in the system are often wrong. Some have complained that failed transfers somehow still reduce account balances, and that such errors go unreversed for […]
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Steward Bank apologises for “unstable” banking system. Carries out another system upgrade
Early this month, a group of people huddled at the Focus Rooms conference centre in Sunninghill, Sandton. The purpose was to discuss the future of money, and the technologies that are currently disrupting the financial services status quo. It was a coterie of experts, hobbyists, entrepreneurs, nerds, enthusiasts, evangelists and other types fitting somewhere in […]
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Mapping the future – Blockchain Africa 2017
When we wrote about the Steward Bank system upgrade over the weekend, we were skeptical that this upgrade would make the bank’s problems go away. We concluded: Even as they promise to fix this over the weekend, the problem for Steward is that they have made such promises before and not fulfilled them. Last time for example, in […]
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How serious are Steward Bank system challenges?
To be honest I wasn’t too excited to hear about Ecobank’s new Mobile app. I thought well just another bank app, what’s new about that? Oh they do have something new. The Ecobank Mobile app comes with Masterpass QR, the one click payment solution from MasterCard. What the heck is that right? Materpass QR is […]
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New Ecobank Mobile App allows payments using QR codes
Fast-growing tech start-up Senditoo has boosted its mobile airtime transfer service with the launch of an app that allows users to send top-ups to mobile phones across the world in just 15 seconds. The super-fast app is now available to download on Google Playstore for Android users and App Store for iOS. With over 70 […]
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Press Release: Senditoo launches super-fast mobile airtime transfer app
That WhatsApp was working on business features to be launched in the future has been clear for a while now. People just didn’t know when. That has just changed. Facebook recently advertised the job, Digital Transactions Lead in India, and as one of the job responsibilities, the advert says the person will work cross-functionally with other teams supporting […]
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WhatsApp to enable payments service
One of the most recurring questions when we commissioned this series on National Building Society (NBS) regards the types of accounts that individuals can open. The second question is which type of account makes one eligible to apply for a housing loan. (Check out the earlier articles here and here) The answer to the second […]
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Looking for a mortgage to build a house? Check out these NBS account options
When NSSA’s funds were used to acquire Telecel by the government in 2015 year, the assumption was that the social security organisation was interested in not just the investment in a lucrative industry, but that mobile financial services in the form of Telecash had attracted it too. Indeed, NSSA itself confirmed this last year saying it was already looking to use mobile […]
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NSSA finally uses Telecash to disburse pensions
NMB Bank has launched an interactive support centre, while also launching itself onto social media, providing customers with several means of interacting with the bank and obtaining information and assistance online. The bank now has a presence on Facebook, Twitter, LinkedIn and WhatsApp for feedback purposes. Existing and potential customers can now contact the bank […]
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Press Release: NMB launches interactive online support centre (WhatsApp, LinkedIn, Twitter, FB)
For some time now, since launch actually, Ecocash have been limiting their customers to a monthly transaction limit of $3,000 per month and $1,000 per day. Some of us may not have noticed this, well, because we never really transacted with those kinds of monies. Up until last year, that is. See, with the coming […]
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Ecocash Ups Local Limit To $20,000 Per Month…
Recently, Mukuru announced that due to the shortage of Rands in Zimbabwe, it had temporarily suspend South African Rand transfers to Zimbabwe. Suspended in that recipients here can’t collect their money Rands. Big deal for the recipient? Ofcourse not, Zimbabweans are not exactly clamouring to get Rands. It’s USD cash they want. For the sender, again, no big […]
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Mukuru assures USD cash to money transfer recipients in Zimbabwe
