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 […]
The government – represented by the Reserve Bank of Zimbabwe which is the industry regulator, and the entire collective of bankers – unified under the banner of the Bankers Association of Zimbabwe are the two entities – the collection of officials, that should have responded to the crisis with emergency measures.
Is the latest drive for e-banking from Ecobank adequate for a 2015 Zimbabwe which is a proudly informal economy? It would seem that the glaring omission from Ecobank’s strategy is an aggressive adoption of indigenous retail banking alternatives.
As it turns out, in addition to the Nettcash app, the ZB Mobile App also offers agents a platform to sell ZESA prepaid tokens from their mobile phones. The functionality of the App, however, is clouded by the availability of POS which are probably prioritised for their physical receipts.
Banks have been given an ultimatum by the RBZ to submit financial inclusion plans within the next four months, a late development considering that banks have laid back while Ecocash and Telecash established a presence in the market.
Most banks have Internet and Mobile banking solutions but the industry is heavily dominated by Mobile Network Operators. Banks have not gone beyond the ATM cards to develop solutions that are in tandem with today’s consumer’s technological socialisation.
Here’s a pdf of the High Court order used to raid The Source. Click on the picture to download it, or just here: http://www.techzim.co.zw/wp-content/uploads/2015/03/Econet_Steward_Bank_Provisional_High_Court_Order.pdf
Information we have so far suggests that the raid on a Zimbabwean based online publication, The Source, is about getting a journalists to reveal their sources. On the issue of journalists […]
It’s just days into the year and it certainly looks like the financial services sector is going to go through a very rough spell in 2015. Yesterday Allied Bank, […]
Several reports from yesterday (deleted but the internet doesn’t forget) say that Kwanele Ngwenya, CEO of Econet owned financial institution, Steward Bank, has been forced out. The bank itself confirmed Ngwenya’s leaving in a statement but […]
Last week, we revealed that Econet and local banks hand reached an understanding with banks to open up its platform for full USSD functionality for the ZimSwitch mobile money transfer […]
Sources in the industry have exclusively told us that Econet has finally given in to the pressure of the banks, regulatory authorities to open up full USSD functionality for the […]
Customers conducting EcoCash transactions under a tent recently at the Harare Agricultural Show Econet announced today the introduction of a new EcoCash based mobile money service called EcoCash Save. The […]
Many like myself are probably wondering about the future of Mobile Money in Zimbabwe. On one side we have EcoCash bullishly rolling out merchant after merchant gathering enough momentum to […]
We just got tipped to the news that Econet Wireless – well, the Econet Services part of it – has completed the integration of its EcoCash platform with NMB Bank’s banking platform.
From the information gathered so far, Matsaudza isn’t being hired to lead EcoCash, Econet’s mobile money services, though. He is expected to fill a new role focused on managing digital payments and bridging the gap between EcoCash and Steward Bank, the retail financial services institution owned by Econet Zimbabwe.
For some reason, I am not that surprised. If you’re honest, you will admit that you’re not that surprised too. It is being reported that Dr Lance Mambondiani, BancABC managing […]
When you walk down the streets it appears as if Zimbabwe has dollarised. Join a supermarket queue and you find that many, if not most, have their USD cash in […]
There is a lot that sucks about having a weak currency like the ZW$. I mean, this currency is not even internationally recognised. You can externalise as many bond notes […]
I wish insurance and pension talk was as fun as MK11 tournaments are. It may not be fun but we still have to have the conversation. Over 60% of Zimbabwe’s […]
You are probably familiar with Senditoo by now. What started with airtime transfer morphed into a fully fledged remittance service. Over the years we watched the service gain partners and […]
Emotion. It defeats reason. Defies logic. You cannot understand it unless it pulls on your heartstrings. You cannot relate to it unless your very body slightly trembles and your skin […]
EcoCash has announced that it has partnered with PayPal for users in Zimbabwe to receive international remittances through its existing partnership with global cross-border remittance giant Thunes. “Leveraging our Hub […]
There was obviously a serious meeting on security over at NMB Bank. We are now seeing the resolutions that were made at that meeting come to life. Just yesterday we […]
Earlier this week we reported on Access Forex getting Reserve Bank of Zimbabwe (RBZ) approval to resume domestic (city to city) remittances. During our travels at the Zimbabwe International Trade […]
It was just a matter of time, wasn’t it? With domestic remittance services launching left right and centre, EcoCash was the last marquee name that wasn’t in the mix. Which […]
No, you’re not reading the notice from 10 days ago and this isn’t déjà vu. Indeed, BancABC has announced that it is facing another systems challenge. The notice posted on […]
POSB Zimbabwe has announced a new micro-loan facility for OneMoney account holders called Mobiloans. The loans are akin to what Steward Bank and EcoCash have been doing with their Kashagi […]
The remittance game, be it for money, goods and or services has blossomed over the pandemic era even when early projections forecasted a decline because of restricted incomes for the […]
In my travels on the internet, I came across a Nigerian startup called BFree that recently closed a US$1.7 million Series A round. It’s a credit management fintech that deals […]