Diversified digital services group Cassava Smartech has launched Akello Digital Classroom, a platform that offers local students, from Primary level to High School, access to online Zimbabwe School Examinations Council (ZIMSEC) curriculum lessons for all subjects. Cassava Smartech announced that all interested Zimbabwean students will have free access to live online lessons for the next 30 days. According to Cassava’s press material the platform will have two components; Live online classes – these are designed to to encourage interactivity between students and teachers; An online platform that provides lesson videos on-demand after the live classes more for revisional purposes. We want students to achieve good grades, regardless of the school they
First it was EcoCash and now ZIPIT is getting the same treatment. The Financial Intelligence Unit (previously an arm of the RBZ but now operating independently) has issued a directive to ZIPIT CEO Cyril Nyatsanza placing a daily and monthly limit on ZIPIT transactions. The Directive dated 27 May reads; Dear Mr Nyatsanza. Temporary Downward Review of ZIPIT Limits to ZW$20 000 per Day and ZW$100 000 per Month The FIU has noted that the existing ZIPIT transaction limits which have no monthly cap are being misused, primarily for illicit foreign currency transactions. The current limits of ZW$100 000 per day allow a customer (subject to any bank-specific limits) to move about ZW$3 million per. month using a single account, and much more if he/she is multi-...
It seems the government’s portal for company registration and name search – ZimConnect – is not working properly. A number of consultants who use the portal to perform company name searches and registrations have complained that they have been failing to complete the registration process because the payment portal is down. It seems the issue has been present on the site for close to a month now and the prolonged downtime has led to calls by some for the government to revert to physical registration since it is taking so long to actually get the registration process done and there’s no alternative at the moment. Some consultants have suggested that the issues with the portal are coming about because the government is failing to pay Paynow for providing the payment platfor
Natalie Jabangwe Cassava Smartech like the rest of the Zimbabwe Stock Exchange listed stocks, has continued to record significant gains, shrugging off serious allegations and litigations levelled against its biggest subsidiary and cash cow, Ecocash. Since the release of the Financial Intelligence Unit (FIU) letter addressed to Ecocash chief executive officer Natalie Jabangwe, in which she and Cassava chief executive Eddie Chibi, are facing possible charges against money laundering, Cassava has gained 12,5 percent as at Wednesday last week. In a letter to Jabangwe, the FIU said it plans to impose administrative penalties against her and Chibi under the Money Laundering and Proceeds of Crime Act. So damning was the FIU in its letter to Jabangwe, which ...
Business Reporter Vaya Africa has launched an electric vehicle service in Zimbabwe as part of the company’s roll-out strategy across Africa. “We are excited to launch the ‘VAYA Electric’ vehicle today (yesterday) as we start our journey of deploying innovative ways of harnessing clean, renewable energy to provide safe and convenient transportation services to the public on the African continent,” said Mrs Dorothy Zimuto, the CEO of Vaya Mobility in Harare yesterday. She said VAYA Africa plans to roll out the VAYA Electric vehicle in West and East Africa soon, saying the vehicles would include a range of multi-purpose cars. “Our e-vehicle fleet will include passenger vehicles, motorbikes, vans, buses and dump trucks, all utilising our VAYA hail ridi
Nespresso is using blockchain to enable consumers to trace the origin of Zimbabwe sourced coffee back to the farm. Two years ago, Nespresso started a Reviving Origins program to restore coffee agriculture in regions affected by conflict or other changes. In the late 1980s, Zimbabwe produced 15,000 tons of coffee and by 2017, the figure was just 500 tons. The country’s main agricultural produce is tobacco. Nespresso says it had a traceability program in place since 2003, but it simply hasn’t shared it with the public yet. “We know that consumers are more and more interested to know where their coffee is coming from. Thanks to our AAA Sustainable Quality™ Program, we have had traceability back to individual farms in our value chain for over 15 years,” said Guillaume
Earlier this week, ZIMBOCASH – a local decentralised cryptocurrency- listed their token ZASH on Bithumb Global (a cryptocurrency exchange headquartered in South Korea). In marketing material, ZIMBOCASH is marketing the ZASH token as a replacement to Zimbabwe’s flailing Zimbabwe Dollar. A total of 4.5 billion ZASH tokens have been created with 950 million currently in circulation. The Zimbabwe dollar was already collapsing with 500% inflation, before this crisis dealt a debilitating blow. We believe that ZIMBOCASH is perfectly positioned to solve this problem by fixing the amount of money in the country using blockchain technology. Our aim is to provide sound-money. Philip Haslam, Head of Communications at ZIMBOCASH I believe Philip’s comments about ZIMBOCASH b
Jah Prayzah continues to break barriers and his latest video Mukwasha directed by Vusa Blaqs has just broken the record of most viewed video in 24 hours in Zimbabwe. The record was previously held by Winky D who hit 171 000 in 24 hours with his video MuGarden featuring Gemma Griffiths and Jah Prayzah has surpassed that to land on 172 000 in just 21 hours.--newsday
Dr Mangudya Tawanda Musarurwa Senior Business Reporter The Reserve Bank of Zimbabwe (RBZ) introduced more measures yesterday affecting EcoCash agents as part of what is now seen as a policy to bring EcoCash agents into the formal banking system and ensure they are controlled. Banks holding mobile money trust accounts are now only allowed to let their account holders pay into those trust accounts and have to enforce the know-your-customer standards of the banking system. The Reserve Bank’s Financial Intelligence Unit believes large money transfers by EcoCash agents are being used to fuel black market deals in foreign exchange and has already imposed limits on business the agents can transact. In a letter to Steward Bank, the RBZ has directed that bank
THE High Court judgement that compels those owed money in United States dollars to be paid in that currency could result in a litany of lawsuits, especially against financial institutions. Evans Mathanda The fiscal and monetary changes that were announced by the Reserve Bank of Zimbabwe (RBZ) on October 1, 2018, on money transfers and conversion of account balances into Real-Time Gross Settlement (RTGS) balances were nullified by the High Court in a judgement delivered on Thursday last week. The ruling was made in a matter where Penelope Douglas Stone from The Stone/Beattie Studio represented by prominent lawyer Tendai Biti, who is also the country’s former finance minister, took CABS, the RBZ and Ministry of Finance to court over a US$142 000 deposit. In nullifying the RBZ