We first published this on the 31st of August 2017. A year later, the then Barclays Zimbabwe CEO, George Guvamatanga is now the newly appointed Permanent Secretary in the Ministry […]
Zimbabwe is now almost completely a cashless economy. The latest report on payment systems from the Reserve Bank of Zimbabwe revealed that cash was responsible for only 2.05% of all […]
Most banks registered profits during the first 6 months of 2018. Better yet, many witnessed percentage growth in their profit in the first 6 months to 2018 as compared to the first […]
There seems to be a secret war that’s going on between EcoCash and some few banks. Some banks including Stanbic and ZB Bank have blocked their customers to use the […]
The banking landscape as we know it is changing in Zimbabwe and the world over. Digitisation is revolutionizing the way customers engage with their finances. As a result, banks are […]
“Everyday Banking for everyday people” is the Steward bank tagline that has caught our attention simply because Steward Bank has indeed become an everyday bank for everyone. How? How has […]
The ongoing cash crisis in Zimbabwe is being tamed by the use of plastic money (debit and credit cards) (through POS devices) and mobile money. The problem is that not […]
CBZ has joined the bandwagon in stopping the processing of manual or paper RTGS transactions and Internal Transfer Fund requests. Zimbabwean banks are following each other in adopting paperless banking […]
If you use mobile banking or USSD codes, in general, then you’ll know how hard it is to remember all those. There are so many of them and the situation […]
So after sending out a circular to banks prohibiting them from opening and continuing to hold accounts for individuals and entities that trade in bitcoin and the rest of cryptocurrencies, […]
Nedbank has just announced that as from the 11th of May they will no longer process manual RTGS payments. Nedbank’s drive to do paperless banking coincides with a number of […]
Last week a man was arrested on charges of cloning a bank debit card and helping himself to thousands of US dollars, or is it bond? Are they the same […]
In less than 2 weeks Stanbic Bank has announced that they will be further reducing their Visa card payments to $100 until the end of the month. This is effective […]
This post has been coming for the past year, as the goal posts have been continually changing. One minute your card can make online payments for $5,500, the next it’s […]
Are you one of those who’s been inconvenienced because your bank hasn’t integrated with EcoCash (or it’s EcoCash that hasn’t integrated with your bank)? Well, no more worries. EcoCash, today […]
As we go cashless, most of us are forced to go the debit card and mobile money route. Some of us already had bank cards and all, but when things […]
Let us start with an assumption that we all are familiar with ZIPIT now, the interbank transfer processor. With the ongoing cash crisis Zimbabwe is facing ZIPIT has grown in […]
So three banks have gone exclusive with internet banking or mobile banking when it comes to processing RTGS and internal transfers. First, it was NMB when they switched to just […]
The demand for DStv is always high during the school holidays (cartoon season!), so it’s no wonder that many people are getting in touch to find out how they can […]
It’s that time of the year when banks are announcing their annual financial results. So far, CABS, POSB, EcoBank, Metbank, Stanbic, NMB, Agribank, BancABC and FBC have all reported profits. The […]
Banks integrated with EcoCash offer their clients a transfer facility to move money between their bank account and Ecocash mobile wallet with each bank charging its own set transaction fees for […]
With the current cash crisis still looming over Zimbabwe, most people are turning to EcoCash as their only hope of getting some much needed hard currency. However, most money is […]
Local retail financial institution NMB Bank Zimbabwe has launched NMBlite – a low-cost bank account aimed at the lower end market. It has no monthly bank charges though it does carry a flat charge – 50 cents- for both bank and ATM withdrawals.
ZB Bank has made a smart play for retail financial services growth with its agent banking model, but its 9,000 agents total is questionable.
At the recent Mobile Money & Digital Payments Conference held in Harare, one of the issues raised by the bankers was the prohibitive costs of e-payments infrastructure like POS terminals and Automated Teller Machines (ATMs).
CBZ Bank has so far registered at least 100,000 low cost banks accounts customers since the launch of their agency banking in June last year. The accounts, called SmartCash accounts, became a […]
To be fair, though, it doesn’t look like ZB Bank is looking for a “never-been-seen-before” effect. The financial services group instead, seems to be focused on one major goal – offering a financial inclusion tool that can help it expand its use case and its presence among people who aren’t willing to open a bank…
ZB Bank started its own agent network in 2015 and has so far grown this to a total of 6,000 agents with plans to grow this to 10,000 agents by the end of 2016. A bank card that is distributed and supported through all these agents would further improve access to deposits.