Breaking News: High Court Says USD Debts Must Be Paid In USD

Zimbabweans Excused From  Paying Rent

High Court Says USD Debts Must Be Paid In USD

 

High Court Says USD Debts Must Be Paid In USD

 

In a potentially far-reaching judgment, the High Court has declared INVALID the RBZ Exchange Control Directive No. R120/2018. The directive which created FCA “nostro” accounts (as distinct from “RTGS” accounts) was declared unconstitutional on the grounds that it’s irrational to change the currency of a bank account by simply renaming it. This means that USD debts have to be paid in USD.

This comes after Penelope Douglas Stone from The Stone/Beattie Studio represented by Tendai Biti took CABS, RBZ and ministry of finance to court over a US$142 000 deposit

The court ordered CABS, the applicants’ bankers, to pay The Stone/Beattie Studio US$142,000 which is the amount that they held in their account in 2016 or transfer it into a “nostro” account nominated by the applicants within 7 days.

Tendai Biti whilst arguing the matter, simply stated: “you cannot give me goats when I gave you cows.”

Below is the High Court order,

PENELOPE DOUGLAS STONE
and
RICHARD HAROLD STUART BEATTIE Trading as THE STONE/BEATTIE STUDIO

versus
CENTRAL AFRICAN BUILDING SOCIETY
and
RESERVE BANK OF ZIMBABWE
and
MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT

HIGH COURT OF ZIMBABWE
ZHOU J
HARARE, 7 May 2019 & 14 May 2020

Opposed Application

T. Biti for the applicant
G. M. Nyangwa for the first respondent
L. Uriri for the second respondent
Ms P. Macheka for the third respondent

ZHOU J: This is an application for an order that the first respondent pays a sum of US$142 000.00 together with interest thereon at the rate of five percent per annum from 28 November 2016 to the date of payment within seven days from the date of this order. In the alternative, the applicant asks that the first and second respondents be ordered to pay the said sum of money jointly and severally the one paying the other to be absolved. The further alternative relief is for the Exchange Control Directive No. R120/2018 to be declared a nullity or, in the further alternative, that s 44B(3) and (4) of the Reserve Bank of Zimbabwe Act [Chapter 22:15] be declared unconstitutional. Costs of suit are in the main sought against the first respondent and, in the alternative, against all the respondents jointly and severally the one paying the others to be absolved. The application is opposed by all the respondents.

……

Costs

The applicants have succeeded in obtaining the relief which they sought before this court. There are no special reason warranting departure from the usual conclusion that costs should follow the result. The applicants are therefore entitled to recover their costs of suit.

Disposition

In the result, IT IS ORDERED THAT:

1. Exchange Control Directive No. R120/2018 issued by the first respondent through its Governor on 4 October 2018 be and is hereby declared to be invalid, and is accordingly set aside.

2. The first respondent shall pay to the applicant the sum of US$142 000.00 in the currency of the United States of America or transfer that amount into a Nostro Foreign Currency Account as may be directed by the applicants within seven days from the date of this order together with interest thereon at the prescribed rate of 5 percent per annum from the 17th October 2018, being the date of the letter of demand, to the date of full payment or transfer into the Nostro Foreign Currency Account as directed herein.

3. The respondents shall pay the costs jointly and severally the one paying the others to be absolved.

Tendai Biti Law, applicants’ legal practitioners
Mawere Sibanda, first respondent’s legal practitioners
GN Mlotshwa & Company, second respondent’s legal practitioners
Civil Division of the Attorney-General’s Office, third respondent’s legal practitioners

High Court Says USD Debts Must Be Paid In USD
High Court Says USD Debts Must Be Paid In USD
High Court Says USD Debts Must Be Paid In USD
High Court Says USD Debts Must Be Paid In USD

 


Articles You May Want To Read,


 

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE:Access LIVE News, Jobs and Exchange rates directly on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare is now a information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post Breaking News: High Court Says USD Debts Must Be Paid In USD appeared first on iHarare News.

    EcoCash Is A Ponzi Scheme Which Is Devaluing The Zim Dollar: RBZ Fires Back At Lawsuit

    RBZ Speaks On Devaluing Zimbabwe Dollar

    EcoCash Is A Ponzi Scheme: RBZ

    EcoCash Is A Ponzi Scheme: RBZ
    EcoCash Is A Ponzi Scheme: RBZ

     

    The Reserve Bank of Zimbabwe (RBZ) has labelled EcoCash a Ponzi Scheme which is accelerating the black market exchange rate and devaluing the Zimbabwe Dollar. The RBZ sensationally claimed that EcoCash has agents who have a massive overdraft on their Ecocash accounts which is well in excess of ZWL$39 million.

    The RBZ made the allegations when it filed its notice of opposition to EcoCash’s urgent application filed at the High Court. The RBZ is defending its decision to freeze and suspend accounts belonging to agents who trade in excess of ZWL$100 000 per month. This is approximately USD2 000 using the black market rates.

    This comes after EcoCash dragged the central bank to the courts alleging that the directive to suspend thousands of accounts was irrational and illegal. EcoCash wants the directive to be suspended arguing that it will cause irreparable damage to its agents as well as innocent Zimbabweans.

    In the notice of opposition RBZ governor, John Mangudya claimed that EcoCash was creating fictitious money which is being used to buy foreign currency and inflate the exchange rate.

     

    EcoCash Is A Ponzi Scheme
    EcoCash Is A Ponzi Scheme: RBZ

    According to online publication, The Anchor, part of the RBZ’s response reads,

    “What the general public does not know is what happens in the interim. The funds that have not been credited to the vendor or the recipient are then available for trading on the Ecocash Platform in the foreign currency market. In effect, the delays allow a certain person, who was the subject matter of an investigation, to buy and sell foreign currency in the intervening period.”

    “How can an entity or individual have an overdraft on an electronic payment platform such as Ecocash?”

    “Applicant has failed to proffer an explanation and is challenged to do so under oath.”

    “The applicant can only operate the payment systems in a lawful way. Operating the payment systems unlawfully through a Ponzi Scheme and shadow banking amounts to a violation of the law and does not give rise to any rights that the applicant can seek to enforce in the manner sought.”

    Mangudya also argued that there is no risk of any irreparable harm being done to EcoCash.

    “It is telling that the applicant has not been candid with this Honourable Court by setting out in detail the so-called affected agents, their identity and their KYC documentation. This is because the applicant has not been complying with the law and is unable to produce this information. Without the information, the applicant has not made out a case for an interdict.

    “The Applicant, through this application shows that it is abdicating its responsibility of ensuring that its system and its identified agents operate in terms of the law. This is a blatant display of arrogance, defiance and impunity.”

    The matter is still pending.


    Articles You May Want To Read,


     

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE:Access LIVE News, Jobs and Exchange rates directly on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare is now a information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post EcoCash Is A Ponzi Scheme Which Is Devaluing The Zim Dollar: RBZ Fires Back At Lawsuit appeared first on iHarare News.

    Zimbabwe Freezes Accounts Handling Over $2 000 Per Month

    John Mangudya

    Zimbabwe Freezes Accounts 

    Zimbabwe Freezes Accounts 
    Zimbabwe Freezes Accounts

     

    The Reserve Bank of Zimbabwe (RBZ) has issued a directive ordering mobile money companies to freeze all accounts which transact over ZWL$100 000 per month. This figure translates to about US$2 000 per month using the black market rates.

    The central bank is alleging that some of these accounts are being used by illegal foreign currency dealers to make illicit foreign currency transactions.

    EcoCash the country’s biggest mobile money company with well over 90 percent market share has taken issue with the directive and has dragged the central bank to the High Court seeking an interdict against the directive. Econet is arguing that the decision by the central bank is ‘irrational and illegal’.

    In a statement to the public, EcoCash made it clear that it was not behind the move which will result in more than 50 000 accounts being frozen. Below is the full statement from the mobile money company.

     

    Notice to Customers & Agents

    EcoCash wishes to advise that we received a directive from the Reserve Bank of Zimbabwe and the Financial Intelligence Unit of Zimbabwe to the effect that all Agents with transaction limits of over ZWL$100.000 per month should have their accounts frozen with immediate effect, except for

    – Banking Institutions
    – Bureaux de change
    – Listed Companies (Zimbabwe Stock Exchange Listed Companies)
    – International Organisations
    – Microfinance Institutions
    – Government and Quasi-government Institutions

    This directive will impact Agent business operations as Agents will not have access to their float funds as well as liquidations.

    EcoCash was not consulted on this directive. We, therefore, did not provide any input into it.

    The directive will not only impact the affected Agents but also the transactions they do with over 53,000 other EcoCash Agents and consequently our 11 million customers countrywide who rely on the Agent network.

    Agent-reliant transactions to be affected are;

    Cash-in,
    Cash-out,
    Airtime sales,
    Customer registrations,
    Prepaid electricity sales,

    Kindly note that all other EcoCash transactions are not affected by this directive.

    We will provide you with an update on any further developments.

    EcoCash
    Cassava Smartech

    Zimbabwe Freezes Accounts 
    Zimbabwe Freezes Accounts

     


    Articles You May Want To Read,


     

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE:Access LIVE News, Jobs and Exchange rates directly on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare is now a information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post Zimbabwe Freezes Accounts Handling Over $2 000 Per Month appeared first on iHarare News.

    RBZ Sued By EcoCash For ‘Irrational’ Decision To Freeze Accounts Of Suspected Forex Dealers

    RBZ Now Says ALL FUEL Can Be Sold In United States Dollars

    RBZ Sued By EcoCash 

    RBZ Sued By EcoCash 

     

    The Reserve Bank of Zimbabwe has been sued by mobile money giant EcoCash over its directive to freeze more than 100 accounts linked to mobile money agents. The central bank’s Financial Intelligence Unit alleged that some of these accounts were being used by illegal forex dealers to participate in the illegal buying and selling of foreign currency.

    Acting Director-General of the Financial Intelligence Unit Oliver Chiperesa ordered all the banks to freeze, with immediate effect, all Ecocash and OneMoney agents suspected of involvement in money laundering.

    However, EcoCash which accounts for more than 90 percent of all mobile money transactions in Zimbabwe, was aggrieved by the directive. The mobile money company is arguing that the directive to suspend the accounts of all the agents who trade above ZWL$100 000 a month is “illegal and irrational.”

    RBZ Sued By EcoCash 
    RBZ Sued By EcoCash

     

    EcoCash has since filed an urgent application at the High Court seeking to have the Reserve Bank of Zimbabwe’s directive suspended before it can cause ‘irreparable harm’ to EcoCash and ‘innocent members of the public.’

    Part of the founding affidavit of Eddie Chibi, the Chief Executive Officer of Cassava SmarTech Zimbabwe, the holding company of EcoCash reads,

    The present application is for temporary relief in the following orders:

    A temporary interdict to suspend the enforcement of the directive issued by the Respondent titled “SUSPENSION AND RE-REGISTRATION OF ALL ECOCASH AGENT ACCOUNTS WITH TRANSACTION LIMITS OF ABOVE ZW$100,000 PER MONTH” ISSUED ON 4 MAY 2020″. A copy of the directive is attached hereto as annexure ECO1.

    A temporary order for the authorisation of the Applicant to uplift all the restrictions imposed on the accessibility of the Ecocash system and accounts by its Agents in terms of the directive issued by the Respondent on 4 May 2020 and to restore all functionality to the affected Agents.

    On the return date, the Applicant will seek the following orders, namely

    A final interdict to stop the enforcement of the directive issued on 4 May

    An order declaring that the Respondent does not have authority in terms of section 10 of the National Payment Systems Act [ Chapter 24:23] to make any directives against the management and the participants of a mobile money payment system without affording them the right to be heard and; and

    An order that the directive issued on 4 May 2020 be declared null and void and consequently be set aside.

    The lawsuit also argues that the directive is too broad and will penalise innocent parties in the hope of catching a few miscreants.

    In the certificate of urgency, Ntokozo Sibanda, a legal practitioner at Mawere Sibanda Commercial Lawyers writes

    In addition, to the extent that the directive is a dragnet that penalises the innocent Agents and their customers in the hope of catching some unknown and unspecified offenders who have committed some unspecified crimes, it is irrational.

    EcoCash is being represented by Nyambirai and Mtetwa Law Firm.  At the time of publishing the Reserve Bank of Zimbabwe was yet to respond to the lawsuit.

     

    RBZ Sued By EcoCash 
    RBZ Sued By EcoCash

     


    Articles You May Want To Read,


     

     

     

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE:Access LIVE News, Jobs and Exchange rates directly on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare is now a information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post RBZ Sued By EcoCash For ‘Irrational’ Decision To Freeze Accounts Of Suspected Forex Dealers appeared first on iHarare News.

    New Prices For NetOne Data Bundles As Of 7 May 2020

    New Prices For Netone Data Bundles

    EcoCash Users Can Now Reverse Transactions

    Zimbabwe’s second-largest mobile network operator NetOne Zimbabwe recently reviewed the prices of its mobile data bundles. This comes a few days after its competitor Econet Wireless hiked its prices upwards. Econet sparked outrage after the prices of its Private WiFi bundles went up at least 3-fold.

    NetOne increased its prices by between 12% and 100% depending on the bundle.

     

    New Prices For NetOne Data Bundles As Of 7 May 2020
    New Prices For NetOne Data Bundles

    Below are the new prices:

     

     

    One-Fi Bundles

    Name Price What you get Validity
    One-Fi Plus $650 25GB 1 month
    One-Fi Ultra $1250 50GB 1 month
    One-Fi Extreme $1500 80GB 1 month

     

     

    General Data Bundles

    Name Price What you get validity
    Hourly $25 1GB 1 hour
    Daily $8 30MB 24 hours
    Daily $15 80MB 24 hours
    Daily $30 200MB 24 hours
    Daily $60 480MB 24 hours
    Daily $80 960MB 24 hours
    Daily $100 1200MB 24 hours
    Weekly $7.5 28MB 7 days
    Weekly $15 60MB 7 days
    Weekly $40 160MB 7 days
    Weekly $75 350MB 7 days
    Weekly $150 700MB 7 days
    Weekly $500 5000MB 7 days
    Monthly $50 200MB 30 days
    Monthly $100 450MB 30 days
    Monthly $250 1500MB 30 days
    Monthly $500 3500MB 30 days
    Monthly $1000 8000MB 30 days

     

    Social Media Bundles

    Name Price What you get Validity
    Daily $5 20MB 24 hours
    Daily $10 50MB 24 hours
    Weekly $15 70MB 7 days
    Weekly $30 150MB 7 days
    Monthly $55 300MB 30 days
    Monthly $100 600MB 30 days

     

    OneFusion Bundles

    Name Price What you get Validity
    OneFusion Lite $80 – 15 Mins OnNet
    – 5 Minutes OffNet
    – 180MB Data
    – 90MB WhatsApp
    – 5 SMS
    30 Days
    OneFusion Gold $160 – 25 Mins Voice OnNet
    – 10 Mins OffNet
    – 400MB Data
    – 160MB WhatsApp
    – 25 SMS
    30 Days
    OneFusion Premium $330 – 80 Mins Voice OnNet
    – 60 Mins OffNet
    – 5 Mins International Calls
    – 1GB Data
    – 360MB WhatsApp
    – 30 SMS

     

    Night Data Bundle

    NetOne’s night bundle which gives 1 Gigabyte of data which is valid for 7 hours between 10 PM and 5 AM the next day is now going for ZWL$40. Before the review, it used to cost ZWL$20.

    Dollar A Day Bundles

    Name Price What you get
    1 Day $10
    2 Days $20 40 OnNet Voice Mins
    20 SMS
    3 Days $50 100 OnNet Voice Mins
    70 SMS

     

    Khuluma 24/7 Voice Bundles

    Price What you get
    $7 6 minutes
    $13 12 minutes
    $25 25 minutes

     

    NetOne SMS Bundles

    Name Price What you get Validity
    Day $1 10 SMS 24 hours
    Day $3 35 SMS 24 hours
    Day $5 60 SMS 24 hours
    Week $10 100 SMS 7 days
    Week $20 220 SMS 7 days
    Week $50 600 SMS 7 days
    Week $100 1200 SMS 7 days

     

    Data Courtesy of Pindula


    Articles You May Want To Read,


     

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE: Dear invaluable iHarare Reader. It is our sheer delight to introduce our intelligent Whatsapp service which allows you to access the latest News, Jobs and Exchange rates on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare has morphed into an integrated information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post New Prices For NetOne Data Bundles As Of 7 May 2020 appeared first on iHarare News.

    Bata Hints On Possible Retrenchment Due To COVID-19 Induced Economic Hardships

    Bata Hints On Possible Retrenchment

    Bata Hints On Possible Retrenchment Due To COVID-19 

    As the world is reeling over the effects of the COVID-19, so many companies are faced with the daunting prospect of contemplating possible retrenchment due to the impacts of the pandemic on their businesses. As such, Zimbabwe’s shoe manufacturing giant Bata has reportedly begun to feel the harsh economic pinch from the COVID-19 lockdown and may see a retrenchment of its workers.

    If the knock of the pandemic intensifies and stretches, the shoe manufacture may be forced to take the unprecedented step and let go of its human capital, the company’s Managing Director Simon Mutisya hinted.

    Speaking to ZiFM Stereo, Simon Mutisya said the decision on whether or not the retrenchment will continue will depend on how hard the knock will be on operations from the pandemic.

    “With regards to workers(retrenchment), we will see how the situation unfolds, but as of now, we were able to keep the entire workforce intact, for how long or what form and shape we will see how it goes.”

    On 1 May, President Emmerson Mnangagwa extended the country’s national lockdown by two more weeks seeing industries, the mining sector, retail shops opening but with restrictions. Bata also resumed operations with more than 15% of its workers getting back to work.

    But the decision on possible retrenchment is ascertained by the limited resources for production, most of which is imported from outside the country. And less retail operations countrywide as customers are under lockdown.


    In News Today

    • A top Chinese COVID-19 researcher, Dr. Bing Liu, 37, who was reportedly on the verge of making a Covid-19 scientific breakthrough,  was killed in a suspected murder, suicide case in his home in Pennsylvania, US. READ MORE……

    • Social media users had their tongues wagging and gasping for air after the London star Adele shared pictures of herself after an incredible weight loss. READ MORE….

    The whole world, including Zimbabwe, have been gripped with the Coronavirus. It’s new to all of us and one of the best ways to keep yourself safe is to stay informed.

    Consider sharing this link with your friends and relatives on WhatsApp so that they can not only be informed, but they can know how to stay safe: wa.me/263718636522?text=Corona

    Stay safe, stay home


  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE: Dear invaluable iHarare Reader. It is our sheer delight to introduce our intelligent Whatsapp service which allows you to access the latest News, Jobs and Exchange rates on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare has morphed into an integrated information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post Bata Hints On Possible Retrenchment Due To COVID-19 Induced Economic Hardships appeared first on iHarare News.

    BREAKING NEWS: Zimbabweans To Now Transfer Money Between Ecocash, OneMoney, Telecash And ZIPIT!

    EcoCash Users Can Now Reverse Transactions

    Zimbabweans To Now Transfer Money Between Networks

    Zimbabweans To Now Transfer Money Between Networks
    Zimbabweans will soon be able to transfer mobile money between EcoCash, OneMoney, TeleCash and even ZIPIT after the government gazetted a new law making this mandatory. According to a Statutory Instrument gazetted by the government, interoperability between networks is now compulsory.

    In the past, the country’s biggest mobile money transfer company, EcoCash faced accusations of frustrating and resisting the interoperability.

    Please note that at the moment it is possible to send money between EcoCash, NetOne and TeleCash. However, you can only do this using Steward Banks’ WhatsApp Banking and Sosholoza. NetOne and Telecel subscribers can also register and use EcoCash. However, this is not the interoperability which the new Statutory Instrument seeks to create. At the moment, NetOne and Telecel subscribers cannot access EcoCash via the *151# USSD menu. They can only transact by making use of the EcoCash Data App.

    Zimbabweans To Now Transfer Money Between Networks
    Zimbabweans To Now Transfer Money Between Networks

     

    Part of the new Statutory Instrument reads,

    (3) On the date of commencement of these regulations, money transmission providers and mobile banking providers recognised in terms of the National Payment Systems Act [Chapter 24:23] are deemed to be licensed under these regulations.

    Additional requirements for provision of money transmission and mobile banking services

             4. (1) It shall be mandatory for every money transmission provider and mobile banking provider shall be connected to a national payment switch, as shall be directed by written notice by the Reserve Bank from time to time that enables interoperability of payments systems and services.

                 (2) For purposes of connecting to the national payment switch in terms of subsection (1) every money transmission provider and mobile banking provider shall install, deploy or commission such infrastructure and connection protocols, credentials and documentation necessary to enable integration with any recognised payment system in terms of the National Payment System Act [Chapter 24:23].

                 (3) Every money transmission provider and mobile banking provider shall open and maintain a bank account that is designated exclusively for mobile banking services.

                (4) Every money transmission provider and mobile banking provider shall ensure that no money is transmitted or is retained on the payment system without a corresponding correct bank balance.

               (5) Every money transmission provider and mobile banking provider must submit periodic returns to the Reserve Bank at intervals as shall be determined by the Reserve Bank from time to time, which shall include —

    (a) the values and volumes including the cumulative total from the beginning of the year to date;
    (b) a reconciliation of the mobile account balances between mobile money platform and the core banking system;

    Zimbabweans To Now Transfer Money Between Networks
    Zimbabweans To Now Transfer Money Between Networks

    More Details To Follow

     


    Articles You May Want To Read, 


     

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE: Dear invaluable iHarare Reader. It is our sheer delight to introduce our intelligent Whatsapp service which allows you to access the latest News, Jobs and Exchange rates on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare has morphed into an integrated information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post BREAKING NEWS: Zimbabweans To Now Transfer Money Between Ecocash, OneMoney, Telecash And ZIPIT! appeared first on iHarare News.

    Here Are The New Prices For Econet Data Bundles As Of 5 May 2020

    New Prices For Econet Data Bundles

    New Prices For Econet Data Bundles

     

    Econet Wireless Zimbabwe hiked he prices for its mobile data bundles last night causing much outrage after the prices of its Private WiFi bundles went up by as much as 225 percent. Below is the full comprehensive list of Econet’s new mobile data prices as of 5 May 2020.  Some of the information on the list was compiled with help from online shopping blog ZimPriceCheck.

     

    Daily Data Bundle Prices

    Price (ZW$) Data allocation (MB)
    $5.5 20MB
    $11 40MB
    $20 80MB
    $37 150MB
    $60 250MB
    $80 600MB
    $130 1200MB

     

    Weekly Data Bundle Prices

    Price (ZW$) Data allocation (MB)
    $5.5 20MB
    $15 60MB
    $33 160MB
    $55 250MB
    $70 370MB
    $152 700MB

    Monthly Data Bundle Prices

    Price (ZW$) Data allocation (MB)
    $28 100MB
    $75 270MB
    $135 500MB
    $175 700MB
    $340 1400MB
    $500 2500MB
    $600 3200MB

     

    Social Media Bouquets

     

    Sasai Bouquets

     

    Private WiFi Bundles

     


    Articles You May Want To Read, 


     

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE: Dear invaluable iHarare Reader. It is our sheer delight to introduce our intelligent Whatsapp service which allows you to access the latest News, Jobs and Exchange rates on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare has morphed into an integrated information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post Here Are The New Prices For Econet Data Bundles As Of 5 May 2020 appeared first on iHarare News.

    JUST IN: Zimbabwe Slashes Fuel Prices

    Zimbabwe Slashes Fuel Prices

    Zimbabwe Slashes Fuel Prices

     

    The Zimbabwe Energy Regulatory Authority (ZERA) has approved the slashing of fuel prices by a marginal amount. The new fuel prices are effective Tuesday, 5 May 2020.

    Diesel has now gone down to ZWL $20.84 from ZWL$21.52 per litre while Blended Petrol has gone down to ZWL$21.00 per litre from ZWL$21.77 per litre.

    Below is the full statement from ZERA which iHarare is publishing in its entirety.

     

    Zimbabwe Slashes Fuel Prices
    Zimbabwe Slashes Fuel Prices

     

    The slight decrease in the price of fuel will be welcomed by many locals who had been complaining that while the price of fuel had gone down drastically worldwide, Zimbabweans where yet to benefit.

    The price of fuel has been plummeting worldwide in part due to a price war between Saudi Arabia and Russia caused by airline shutdowns and a decrease in manufacturing in many industries reliant on oil and energy. This was exacerbated by the fact that the heating-oil-hungry northern hemisphere is moving into the summer when demand for oil will be lowest.

    A few weeks back, the price of oil in the United States actually turned negative for the first time in history. The negative price means that oil producers had to pay buyers to take the commodity off their hands over fears that storage capacity could run out in May.

    The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, fell as low as minus $37.63 a barrel.

    Last night, there were fears that the government was going to hike the price of fuel following revelations that the government has increased the duty on fuel with the passing of Statutory Instrument 100 of 2020.

     

    Zimbabwe Slashes Fuel Prices


    Articles You May Want To Read, 


     

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE: Dear invaluable iHarare Reader. It is our sheer delight to introduce our intelligent Whatsapp service which allows you to access the latest News, Jobs and Exchange rates on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare has morphed into an integrated information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post JUST IN: Zimbabwe Slashes Fuel Prices appeared first on iHarare News.

    Econet Hikes Price Of ‘Cheapest’ Private WiFi Bundle By 225% In Blow To Consumers

    Econet Set To Hike Data Prices

    Econet Hikes Price Of ‘Cheapest’ Private WiFi 

    Econet Hikes Price Of 'Cheapest' Private WiFi 

     

    Zimbabwe’s biggest mobile network operator Econet Wireless has hiked the price of its mobile data bundles. This has resulted in the price of the popular Private WiFi Bundles skyrocketing by as much as 225 per cent.

    The Econet Private WiFi bundle has become the go-to choice for most subscribers who wanted unbundled data which would last the whole month. Before the latest review, most Econet customers opted for the 25 Gigabyte option which used to go for ZWL400. However, this option has since been reviewed and hiked. The 25 Gigabyte Private WiFi monthly bundle is now going for a massive ZWL1300. This translates to a massive 225 percent increase.

    To put this in a different context, at the beginning of last month, one would have needed to convert US$10 on the black market to buy 25 Gigabytes of the Private WiFi bundle. With the latest review, however, one will need a minimum of US$25 to purchase the same package. This translates to a massive increase of at least 150 percent in United States Dollars.

    Here are the prices which were prevailing before the review

    • 25GB for $400
    • 50GB for $800
    • 75GB for $1000

     

    However, following the review, Econet has removed the option for the 75 Gigabyte Private WiFi bundle.  The new options available below are as follows.

     

    Data allocation Old Price New Price % increase
    25GB ZW$400 ZW$1300 225%
    50GB ZW$800 ZW$2000 150%

     

     

    Zimbabweans have been outraged by the price hike and have taken to social media to let their feelings known clearly. In the early hours of the morning following the hiking of the prices by Econet, the hashtag #EconetMustFall was already trending. Here is how some Zimbabweans responded to the hike in the price of private WiFi bundles by Econet.

     

     


    Articles You May Want To Read,


     

  • How To Never Miss IHarare Latest News On Your News Feed Following Facebook’s New Algorithm
  • IMPORTANT NOTICE: Dear invaluable iHarare Reader. It is our sheer delight to introduce our intelligent Whatsapp service which allows you to access the latest News, Jobs and Exchange rates on WhatsApp. Send a WhatsApp message with the word HIE to +263718636522 or just CLICK HERE to try it out. iHarare has morphed into an integrated information one-stop-shop. Please click on the links highlighted in Red to access News, Events, Jobs, Pricecheck, Classifieds, Dating and Education services by iHarare.For any queries contact us by CLICKING HERE .

    The post Econet Hikes Price Of ‘Cheapest’ Private WiFi Bundle By 225% In Blow To Consumers appeared first on iHarare News.