Yes EcoCash is too dominant. It had above 98% share of all mobile money transactions in the first quarter of 2020 which translates to above 80% of all transactions in […]
So this happened: DESIGNATION OF ZIMSWITCH TECHNOLOGIES (PRIVATE) LIMITED (ZIMSWITCH) AS A NATIONAL PAYMENT SWITCHIn accordance with the provisions of the National Payment Systems Act [Chapter 24:23] and the Banking […]
The Reserve Bank of Zimbabwe is, according to the Financial Gazette, to introduce United States Dollar linked Bonds. Now these aren’t to be confused with actual currency like that failed […]
Where does the official rate come from? This is determined by an interbank auction conducted by the Reserve Bank of Zimbabwe. From 23 June 2020, the Reserve Bank of Zimbabwe […]
Yesterday the Reserve Bank followed up a statement made by Nick Mangwana on Friday night. The original statement looked to totally ban mobile money platforms. The government was planning to […]
Yesterday the government through Nick Mangwana issued a statement declaring that mobile money was suspended with immediate effect. Naturally the public wasn’t happy and all three mobile telecommunications companies released […]
NetOne and MyCash have followed up Econet’s response to the announcement made by Information Secretary Nick Mangwana last night. NetOne Dear Valued Customer, We would like to advise that OneMoney […]
Of course we will keep going to town about the most stupid decision announced by the Zimbabwean government ever. Scrutinising the statement that announced the suspension of all mobile money […]
Nick Mangwana, the Permanent Secretary in the Mimnistry of Information is the one whose signature was on the ridiculous statement that announced the ban on mobile money. Here is him […]
In a sudden and a hugely ill advised move, the government yesterday announced that they were suspending all mobile money transactions with immediate effect. As expected, EcoCash has responded. Here […]
The Government has suspended mobile money transactions. This is the statement that was released this evening: Government has, with immediate effect, undertaken a series of prudent and coordinated interventions to […]
Minister of Finance, Mthuli Ncube and Reserve Bank of Zimbabwe Governor, John Mangudya keep insisting that Zimbabwe has de-dollarised and they get emotional (almost) when anyone suggests that we have […]
When the government shared the budget for COVID-19 response – the Victoria Falls Securities Exchange (VFEX) was a part of that budget. At that time not much was explained beyond […]
It has been an interesting yet unsurprising past couple of weeks for Zimbabwe’s most popular mobile money firm EcoCash. The company has been in a row with the Central Bank […]
So yea the urgent High Court application made by EcoCash to reverse a directive given them by the Financial Intelligence Unit of The Reserve Bank of Zimbabwe has been thrown […]
The Governor of the Reserve Bank of Zimbabwe recently appeared before the Parliamentary Portfolio Committee on Budget and Finance. He used very interesting colourful words in his submissions. Guerrilla War […]
The Financial Intelligence Unit has its daggers drawn against EcoCash. The unit’s Acting Director General wants his pound of flesh and he’s not taking any prisoners. Background Zimbabwe’s currency is […]
Here is a long letter charging EcoCash, its CEO- Natalie Jabangwe and Director (CEO of its holding company, Cassava Smartech) of crimes under Zimbabwe’s anti money laundering laws: OVERVIEW We […]
The fight between EcoCash and their regulator, the Reserve Bank of Zimbabwe is revealing if nothing more. Of course the current episode started with a directive from RBZ instructing EcoCash […]
So the story of the week has been the directive issued by the Financial Intelligence Unit of the Reserve Bank of Zimbabwe to EcoCash instructing them to freeze the accounts […]
Most people were surprised by the Zimbabwe central bank moves to instruct EcoCash to freeze the accounts of all agents that process transactions above ZW$100,000 (about USD2,000 or USD4,000 when […]
The Herald reports that the Reserve Bank of Zimbabwe has closed down more (undisclosed) mobile money agent lines in a bid to arrest the deterioration in value of the Zimbabwe […]
The RBZ has come out with a statement regarding the 5-years de-dollarisation project document which has been making the news after leaking last night. The Central Bank has said that […]
Kwanhasi uku kutaura kwevakuru. (This is just a way for ‘the elders’ to say it in a way that saves them face). This just about sums today’s announcement by the […]
In October 2018 the minister of finance and the central bank governor told us that money we had earned and deposited as USD was not in fact USD. Some of […]
Yesterday the RBZ sent out a warning to companies suspected of destabilising the country due to “illegal activities” forex market. The Central Bank followed this up by announcing that one […]
The Reserve Bank of Zimbabwe has just approved the adjustment of transaction fees upwards by Zimbabwe’s largest mobile money operator, EcoCash. According to reliable sources this approval has been granted […]
The Reserve Bank of Zimbabwe took to Twitter this morning with a warning for individuals who are “destabilising” the country by putting pressure on the forex market. It has come […]
Low-cost bank accounts (lite accounts) have been a thing in Zimbabwe for some time since the Reserve Bank of Zimbabwe launched its National Financial Inclusion Strategy. But, surprisingly, it was […]
CBZ Bank has come out with an explanation about circulating images of bin containers with bond coins. In a tweet, CBZ said: In other words, CBZ Bank is saying that […]