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What is your take on this initiative, should the government approve the construction of Zimbabwe’s first “world-class train and spaghetti road” or it’s just another one of those dreams we will never see in our lifetime?
How To Freeze, Reverse A Transaction If You Send EcoCash To The Wrong Person
One of the most frustrating experiences for mobile money users is when you mistakenly send money to the wrong person on EcoCash. Granted, this is something that should be avoidable, but you will be surprised at the number of people who do this when they do a transaction while absent-minded.
Thankfully, EcoCash has introduced a new feature which allows users to reverse the transaction and freeze the money they would have sent to the wrong person in error. And even better, the feature does not require an internet connection as it can be done via USSD using any type of phone.
How To Reverse EcoCash Transactions, Retrieve Money Sent To the Wrong Person
On the menu options select Option 4: Self Help/Reversal
Then Select Option 1: Submit A Reversal
You will then be asked to enter the transaction reference number/ approval code. On the text messages that a user receives after completing an EcoCash transaction, this is the set of numbers and letters that start after Txn ID e.g. MP210304.1412.L06729
After entering the transaction reference the funds will be immediately frozen and the receiver will be unable to spend them. At this point, the person who received the money will get a message asking them to authorise the reversal.
Please note, the money will not be reversed until the other party authorises the reversal. This was done to prevent dishonest people from paying for goods or services and then surreptitiously taking back their money.
How To Approve An EcoCash Reversal If You Are The Person Who Received The Money In Error
On the menu options select Option 4: Self Help/Reversal
Then Select Option 1: Approve A Reversal Of A Transaction
You will then be shown the transaction which needs to be reversed, or perhaps a list of all the pending reversals.
Verify the transaction details and confirm. The money will be reversed and sent back to the sender’s EcoCash wallet.
Why Is It Important For EcoCash Users To Reverse Transactions This Way
Getting money reversed after sending to the wrong person is usually a headache for the sender, as they often have to go to the Econet offices. This often means enduring standing in extremely long queues at Econet shops.
Although the mobile money company provides a toll-free customer support service and support via various social media platforms, these don’t seem to work as advertised as the customer service representatives seem vastly under-resourced and under massive pressure.
Where there is no dispute between the sender the receiver, where both parties are in agreement that the money was sent in error, then the transaction can be reversed with no hassles.
However, if the receiver is unwilling to approve the EcoCash reversal you will have to get support from EcoCash. The great thing is that the receiver will not be able to use the money because it will be frozen, provided you initiated the transaction reversal in a timely manner.
Amazon Founder Jeff Bezos Resigns As CEO In Surprise Email To Staff
Amazon founder and world’s richest man has decided to step down from being the company’s CEO, a surprise email sent to his staff read on Wednesday morning.
Jeff is set to become the company’s executive chairman and get replaced by Andy Jassy, who currently leads Amazon’s cloud computing business.
I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence,” read the email.
“As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.
“I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organisations can have,” he added.
This, after he single handedly led the company he started from his garage 3 decades ago to massive wealth.
Jeff Bezos, recently stunned the world when he grabbed back his position as the World’s Richest Man after making tens of billions while the world was reeling over the effects of the Covid-19 pandemic.
His move to step down came as a surprise to many, but not his critics.
Jeff’s unusual, incremental and often secretive approach on how he led his company to the top has made him more enemies that friends in the industry.
He has previously been labelled abusive and predetory to his workers and competitors.
This move left many of his critics unfazed.
Rather, they think it was meant to clean up his tainted image.
“Do not be fooled by Amazon. Jeff Bezos is still in a position of immense power as executive chair,” said Public Citizen, a US-based consumer rights activist group. “This abusive, predatory monopoly still needs a complete overhaul.”
Motorists travelling on the country’s highways will now have to fork out extra monies after the Zimbabwe National Road Administration (ZINARA) hiked tollgate fees.
ZINARA also introduced a dual pricing system whereby motorists will have an option to pay for toll fees in either local or foreign currency.
According to statutory Instrument (SI), 32 of 2021 that came into effect at midnight light vehicles will now pay US$2, minibuses US$3, buses US$4, heavy vehicles US$5 while haulage trucks will be required to pay US$10.
Previously tollgate fees were only pegged in local currency, light motor vehicles paid $120, minibuses $180, buses $240, heavy vehicles $300 and $590 for haulage trucks.
The new toll fees will be denominated in US dollars and converted into the local currency at auction rates for those who wish to pay using local currency, swipe cards and mobile money.
However, all foreign-registered vehicles shall pay for toll fees in forex only.
This means at the prevailing auction exchange rate light vehicles will pay US dollar equivalent of $164, minibuses $246, buses $328, heavy vehicles $410 while haulage trucks are charged $820.
In his 2021 nation budget, Minister of Finance and Economic Planning Prof Mthuli Ncube said Zinara would be permitted to collect toll fees in forex.
Such foreign currency resources would enhance Zinara’s capacity to pay external debts. I, therefore, propose that toll fees be payable in foreign or local currencies at the Foreign Currency Auction Rate, he said.
Zinara spokesperson Mr Tendai Mugabe yesterday told The Herald, that the dual pricing system was in tandem with the government’s vision to improve the state of roads in the counrty.
We are calling it dual pricing where we are going to accept both foreign currency and Zim-dollar. It is effective today (yesterday) midnight. That is when we are going to change our systems at the tollgates, starting from midnight people will be paying local currency and foreign currency.
In our view as Zinara, I think this is a very positive move considering that the Government has put road development at the heart of national development. So, we believe that the new toll tariffs are going to have a huge impact on the disbursements that we are providing to road authorities, he said.
While Norton Member of Parliament and former ZANU PF provincial chairperson Hon. Temba Mliswa blasted the government and ZINARA for imposing their will on the people without consultations.
The relevant Parly Committee should look into this sudden ZINARA tariff hike. We are not cattle that you push into the dip at your will and whim.
Just waking up and announcing new charges without any consultation is wrong. Let’s have respect for people and pre-plan these things, he wrote on Twitter
No Plans To Introduce $100, $200 Banknote: RBZ Refutes Reports
The Reserve Bank of Zimbabwe (RBZ) has denied media reports that it is working on introducing a $100 and $200 banknote. The central bank through its governor John Panonetsa Mangudya, however, conceded that it is working on introducing a $50 banknote.
In a statement on Tuesday, RBZ governor John Mangudya said,
FOR THE RECORD
The Reserve Bank of Zimbabwe (the Bank) is working on the introduction of a Z$50 banknote into the market for the convenience of the public.
For the time being, the Bank has no plans of introducing Z$100 and Z$200 banknotes as suggested in some sections of the media.
The denial of the impending release of the new banknotes by the central bank comes just days after state-owned media reported that the central bank was going to release higher denomination banknotes and increase the physical money supply. According to the reports, this was being done to curb cash shortages and improve transacting convenience.
Economist Eddie Cross, who is a member of the RBZ Monetary Policy Committee was quoted as saying that they were waiting on President Emmerson Mnangagwa to approve the design of the new notes. Cross is quoted by national broadcaster ZBC as saying,
“The only new note which is due to come in shortly is the $50 note and I’m not certain when that is going to be available but it is in the process of preparation.
“There are already plans to introduce some higher denomination notes this year.
“Some time ago we made a decision in the MPC to introduce new $200, $100 and $50 notes.
“I understand that this is being dealt with by the governor working with the President because the President has to approve the designs and everything else. But I understand that the $50 note will be available early in the new year.”
How To Stop EcoSure From Deducting Your Money Automatically
Judging from comments on social media platforms and forums, it appears that one of the most frustrating experiences for EcoSure Funeral Cover customers is when the service makes automatic deductions from their EcoCash mobile wallets.
As these deductions can sometimes take place at very inconvenient times, iHarare has noted that many people have been inquiring on how to stop EcoSure from deducting money from people’s mobile wallets automatically.
Worry not, here is how you can stop EcoSure from deducting money from your EcoCash mobile wallets so that you can control when you get to make the payments.
Proceed to enter you EcoCash PIN
On the menu options select Option 1: EcoSure Funeral Cover
Then select Option 1: Ecosure Individuals
On the currency menu, select Option 1: RTGGS Dollar
On the next menu, select Option 4: Manage Policy
Select Option 3: Disable Premium Auto Debit
Select Option 1 to confirm that you want EcoSure to stop make automatic deductions from your EcoCash mobile money wallet every month.
Please note that EcoSure Funeral Cover advises that in the event of death if your policy is not paid up, the claim will be rejected.
In case you need to make sure that EcoSure continues making the monthly deductions from your EcoCash mobile wallet automatically, you can re-enable the option by following all the steps above. However, when you get to Option 7, select Enable Premium Auto Debit.
RBZ Issues A Statement Against Businesses That Refuse Torn US Dollar Notes
Zimbabwe’s central bank has issued a statement against persons and businesses that have been in the habit of refusing worn and old U.S dollar notes in the country.
So deep had been the plague such that businesses, especially in the City of Harare could not accept U.S dollar notes produced before 2006 as they are considered of less value than newer and crispier notes.
In a public notice dated 21st of December 2020, the RBZ governor, Dr Mangudya issued a stern warning to such entities, emphasizing that it was criminal to refuse these notes.
Old, torn and worn out U.S dollar notes are to be accepted anywhere in Zimbabwe.
This because the U.S government consider any dollar bill valid as long as it is in its original form and still has most part of the note intact.
Reserve Bank of Zimbabwe public notice on old and worn United States dollar notes reads;
It has come to the attention of the Reserve Bank Of Zimbabwe (the Bank) that some persons are refusing to accept old and worn United States dollar (U.S. dollar) notes that they are old and mutilated and therefore of no value.
For the benefit of the transacting public and as already advised by the USA Embassy in Zimbabwe in its Tweet on 16 November 2020, the Bank wishes to inform and restate the position of the United States Government that U.S. dollar notes do not expire no matter their age and that the U.S Government does not even consider old worn notes to be mutilated as long as more than half of the note is intact and the value of the note is clear.
Mixing Streetwear And Music Has Always Been The Culture At 7:30
Mixing streetwear and music has always been the culture at 7:30, always pushing beyond mainstream territory, introducing you to the future of the art!
One might even say, music is engraved in the 7:30 DNA.
The apparel and clothing company has proved just how to do so in Zimbabwe.
7:30 is a ready to wear/streetwear brand for the men and women with discerning taste
Following a firm comprehension of the core values of 7:30 and all that which they stand for, the explanation as to why they’d be drawn towards up and coming flames like Tashamiswa becomes redundant.
That’s one house that craves and lives for the conflagration.
Tashamiswa is truly an icon in the making and a voice that cannot be muted; its “all roads lead to superstardom” for her. She’s a burst of energy and character but in human form.
Tashamiswa is an emerging Zimbabwean Hip Hop artist known for her single “Crew” produced by multi-talented producer Amvis, her collaboration with Nutty O “Pon Me”, her strong lyricism and her daunting persona. It’s quite apparent that this is only the beginning.
Tashamiswa’s rap career began sprouting during her preteens and she has been making strides at securing her spot in the industry since then. She has grown to become a receptacle for all things that make up a star; style, mounds of personality, creativity, proficient lyricism and versatility.
Some have even gone so far as to dub her the Fela Kuti reincarnate, and that is no small feat.
Honestly, that alone should be reason enough for one to get with her music. We know 7:30 did!
Steward Bank Charges Minimum of US$250 For Telegraphic Transfer
Zimbabweans on social media have expressed shock after learning that Steward Bank charges customers a minimum of US$250 for a single telegraphic transfer.
Most people were shocked to learn that the charges were so astronomical and accused the bank of unsavoury banking practices.
The issue started when a Harare based photography & videography company called kaySIMMZpix took to social media to complain that Steward Bank was offering them only US$165 following a telegraphic transfer of US$478. They alleged that the bank had deducted US$305 as charges. kaySIMMZpix wrote,
So after 4months of complaining on your timeline, and signing never-ending documents U want to give me 165USD from a telegraphic transfer of 478USD. what kind of bank charges cost 305USD. I want my money, please.
So after 4months of complaining on your timeline, and signing never-ending documents U want to give me 165USD from a telegraphic transfer of 478USD. what kind of bank charges cost 305USD. I want my money please. pic.twitter.com/mzl6CFVqF6
The bank promptly responded saying that US$250 was the minimum charge while the rest of the money was for sending fees which should have been catered for by the sender. Responding to the query the bank said,
Kindly note $250 is the minimum charged by the intermediary bank. The additional fees relate to sending fees ordinarily catered for by the sender. Steward bank does not charge to incoming telegraphic transfers.
When asked why they had chosen to do a telegraphic transfer when they were aware of the high charges, kaySIMMZpix said that they were unaware of the charges. They also said that that they had opened the Steward Bank account as they were desperate to receive money from outside during the national lockdown. At that time, Steward Bank was the most convenient option.
I needed to receive my salary during lockdown days via TT so steward was the only bank that offered account opening via USSD. No further information was provided except that. I was sceptical myself no lie. I think they should publish the charges or make it known to clients.
… opened the account via USSD on my phone during lockdown because It was the only option available to me at the time I couldn’t move around. My Job only receives money via TT so I was expecting a 0.7% charge then boom they take 65% of the money. This bank is not very forthcoming
kaySIMMZpix also said that Steward Bank had neglected to inform her of the high bank charges for Telegraphic Transfers and did not provide any documentation for such.
I opened my dura via telephone USSD during the lockdown. for a dura account,U have no bank card, you cant link it to your visa card, to check balance you have to call them, there is no customer portal for the FCA.@stewardbank where I these terms and conditions for FCA accounts
Stop lying How can I understand you taking my 305USD. I opened my account with you because you promised no monthly fees. There is nowhere that says you charge 305USD for two transactions, a shameful lot. U just said 305 from charges show me where I said I agree?
When another social media user questioned Steward Bank on the identity of the intermediary bank that they were using that has such exorbitant charges, the bank responded with a list of their minimum charges for different currencies
A telegraphic transfer or telex transfer, often abbreviated to TT is basically an electronic method of transferring money and is commonly used to transfer money internationally. It may also be referred to as a wire transfer or SWIFT transfer. Senders pay for the transaction at the remitting bank and provide the recipient’s name, bank account number, and the amount transferred. A transfer charge is often charged by the sending bank and in some cases by the receiving bank.
What Do Other Local Banks Charge For Telegraphic Transfers?
According to the local tech blog, Tech Zim, here is what other local banks charge for Telegraphic Transfers:
How did Zimbabweans react to the bank charges of US$250 for Telegraphic Transfers?
Unsurprisingly, Zimbabweans on social media did not take the charges well and made their feelings known. Here are some of the reactions.
I told you not to do it. If you get you google ads or international money via bank Transfer into a @stewardbank they charge you $250 on the head or 0.7%. Which ever comes first. So if someone sends you $260 USD into your account, they give you $10. #DontDoIt. pic.twitter.com/n4v4bKIgmx
Facebook’s Ludicrous Deals Could Make It Lose Instagram And WhatsApp, US Federal Regulators
US federal regulators have filed a major lawsuit against Facebook that could cripple the company if successful.
They seek to dismantle Facebook from its smaller businesses, Facebook Messanger, WhatsApp and Instagram.
This after more than 45 state prosecutors and the Federal Trade Commission highlighted some irregularities in Facebook’s acquisition of Instagram in 2012 and its 2014 purchase of WhatsApp.
They accused Facebook of threatening its rivals and stiffling competitors and users.
It is alleged that the firm used a “buy or bury” approach in buying these firms and many other it failed to buy.
One proof filed in the court papers was an internal message from the company’s CEO Mark Zuckerberg 2008 email where he sites that “it was better to buy than complete”.
Officials are then asking the court to break up the company, because: “Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition, all at the expense of everyday users.
And no company should have this much unchecked power over our personal interaction and social interactions. That’s why we are taking action today.”
WhatsApp, which now boasts more than a billion users had been Facebook Messanger’s biggest instant messaging competitor for years, especially in 2012.
The company bought WhatsApp in 2014.
Same with Instagram. Mark Zuckerberg admitted, the image sharing app had been one of Facebook’s biggest competitors.
FTC approved all these deals. But has taken a U-turn now and accuses the firm of ludicrously buying with low figures.
Instagram, for instance, as big as it is, was bought with a mere $1bn.
Facebook has come out gun blazing over these accusation.
In a Twitter post, the company vowed to protect its interests in whatever cost.
“We’re reviewing the complaints & will have more to say soon. Years after the FTC cleared our acquisitions, the government now wants a do-over with no regard for the impact that precedent would have on the broader business community or the people who choose our products every day, ” they said in a tweet.
Since the matter hasn’t been heard in court yet, people shouldn’t expect Facebook to lose WhatsApp and Instagram anytime soon. These are still part and parcel of Facebook.
Africa’s Number One Marathon Has Gone Virtual! Thanks to the new amazing features of the SporySplits Tracker app, you can run your Econet Victoria Falls Marathon virtually from anywhere in the world. Visit vicfallsmarathon.com to register.
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