So Standard Chartered Bank have started charging customers for depositing soiled notes i.e dirty USD notes. It’s not little money they are charging too: 10% of the total deposit! How did we get here? Zimbabwe has quite the concentration of dirty US dollar notes. We adopted the currency in 2009 without much of an arrangement with the Federal Reserve Bank of the United States, the guys who actually mint the notes. So we obviously just kept on recycling those same notes without anyone who would swap them out for fresh ones. Then problems Zimbabweans soon realised that the dirty notes we had gotten used to were not readily accepted outside our borders. My colleagues discovered this reality when they went to Capetown a few months ago. Clever guys were now dumping dirty notes with the ban
Thanks Econet As always Econet is already leading the way again in raising money for Cyclone Idai relief efforts. The Mobile Network Operator is daring you to donate any amount you can and Econet will in return contribute the exact amount. That is, if 1000 people contribute $100 000, Econet will also contribute $100 000 (Click here to find out how you make your donation using EcoCash and other means). Thank you to 1027 people who have contributed RTGS$8,658.10 towards #cycloneidai. As part of our commitment, Econet will match dollar for dollar all individual contributions made towards this cause.--techzim
Thanks Netone Netone is another Mobile Network Operator that has decided to set up a relief fund for the Cyclone Idai disaster. Netone has led the way by pledging $50 000 for the purchase of food to provide to those areas heavily affected by the cyclone. You can make a donation to the fund using Netone’s mobile money platform, OneMoney. --techzim
Dramatic title aside, automation has been a very touchy subject over the past few years and recent developments at Standard Bank SA won’t do anything to halt people’s animosity towards the digital transition the world is going through right now. The bank has announced that they will be closing off 91 branches and this is expected to affect 1200 jobs. Why? Well, put simply the bank has said they are revising their business model and because similar measures were taken in Zimbabwe last year (though not at a similar scale), this doesn’t come as too much of a surprise. Standard Bank had the following to say about this move: As part of the implementation of the new banking delivery model, some of the roles currently being performed in our branches will change. These changes will impact ap
Former Minister of ICT, Supa Mandiwanzira who is facing criminal abuse of office charges has decided to approach the Constitutional Court to have the case against him nullified. He is arguing that the Criminal Procedure and Evidence Act under which he is being charged is not constitutional. His lawyer, Thembinkosi Magwaliba says: The section does not define what the duties of an officer are, as a result, public officers will operate in fear of transgressing that law because the decision as to what is abuse of duty, is entirely left to the police officers. Mandiwanzira couldn’t have conducted himself in a manner contrary to his duties as a public officer because the duties are not defined in the Act and this endows police officers to determine what the parameters of
BARCELONA, Spain (AP) — Chinese tech company Huawei takes center stage Monday at the world’s biggest mobile industry trade fair, as it wages a geopolitical battle with the U.S. government over its role in next-generation telecom networks. Huawei has an outsize presence at MWC Barcelona, a four-day industry showcase of mobile devices and innovations that’s expected to draw 100,000 visitors. The focus at this year’s meeting is new 5G networks due to roll out in the coming years. But an ongoing U.S.-China dispute over Huawei, the world’s biggest maker of networking gear, is casting a pall. Washington is dispatching a big delegation to press its case with telecom executives and government officials that they should avoid Huawei over national security concerns. U.S. President Donald Trump
Econet spin-off Cassava Smartech announced a new digital learning platform which offers education and learning resources for learners of all age groups – from primary school to post-graduate students. Akello Edutech as they have named it will be comprised of some material from familiar faces including Ruzivo and Muzinda Hub. In addition to this there will be two platforms; Akello Books (coming soon) and Akello Courses which will give students access to Cassava’s educational library of content. Speaking at the launch event, Akello Edutech Chief Operating Officer Mr Tendai Mashingaidze described Akello Edutech as designed to offer targeted services to different education market segments. Akello Edutech aims to make its thrust through the following; Ruzivo Extramarks Ruzivo Extramarks
It was the largest one-day transaction ever seen on the Zimbabwe Stock Exchange; $217 million worth of stock in two of the market’s biggest firms, Econet and its spinoff Cassava. In a special bargain on Tuesday, 81,053,746 shares were traded at 147.75c at a value of $119.76 million. Some 66,298,299 Cassava shares also traded at 147.75c for $97.82 million. The two trades pushed daily turnover to $222.5 million, the highest on record. This obviously kicked up a lot of speculation; was there a mystery buyer? Was it to do with some shareholder dispute over Cassava? Was someone making a clean break ahead of the monetary policy statement? The market always loves a good rumour, especially now. But Econet founder Strive Masiyiwa quickly poured water on any talk that there was more to t
I am one of those people who was appalled by the way ZESA handled their solar power plant bids. Say what you will, I take it is as a clear sign of the rot at parastatals that a company managed by a man convicted of fraud was handed money in advance. The much talked about solar plants have to this day, more than 5 years later, not materialised. Why am I not surprised? Well, it seems ZESA has learnt its lesson with regards to Intratrek, which Mr Chivayo represented in the solar bid. According to a report in the Herald, they have decided to snub Intratrek in their Gairezi bid which will see the winner of the tender building a Hydroelectric power station on the Gairezi river. I am glad to note that ZESA has learnt that in colloquial terms Intratek vakomana. The guys you call in when you ...
Fuel shortages, the general increase in prices, black markets: all these problems are what Zimbabweans are facing right now. And Vice President Constantino Chiwenga has just said that some people on social media are making these problems worse. With these remarks, The Vice president echoed the same sentiments President Mnangagwa said three months ago when things started to get ugly. The Vice President said: We are currently facing problems with fuel and some are now hoarding the commodity. There are some who are now abusing social media to exacerbate the situation, resulting in people rushing to stock the commodity. We should avoid that because there is no journey that does not have obstacles. It is not right to cause unnecessary panic and we urge Zimbabweans not to panic. We expect that ...