Mnangagwa Says EcoCash Was Sabotaging The Economy President Emmerson Mnangagwa has attacked the country’s biggest mobile money company Ecocash, accusing it of sabotaging the economy and causing the country’s runaway inflation. According to the President, EcoCash was creating billions of dollars of phantom money, which was prompting the country’s inflation to skyrocket. He […]
Category Archives: RBZ
RIP EcoCash Agents: RBZ Bans All Agent Lines Permanently
RBZ Bans All Agent Lines Permanently Mobile money agents are now officially a thing of the past after the Reserve Bank of Zimbabwe (RBZ) banned all agent lines permanently. This means that EcoCash, OneMoney, and Telecash agent lines are no longer operational. This was announced by the central bank during today’s Monetary Policy Statement. […]
EcoCash Dealt Major Blow As RBZ Designates ZimSwitch As National Payment Switch
RBZ Designates ZimSwitch As National Payment Switch The country’s biggest mobile money company EcoCash Zimbabwe has been dealt a huge blow by the Reserve Bank of Zimbabwe (RBZ) after the central bank designated ZimSwitch as the National Payment Switch. This means that all mobile money transactions will now have to go through ZimSwitch. According […]
Zimbabwe Official Exchange Rate Jumps To Z$63.7 Following Forex Auction
Zimbabwe Official Exchange Rate Jumps To Z$63.7 The official foreign exchange rate for the United States Dollar (USD) to the Zimbabwe Dollar has now moved to US$1: ZWL$63.74. This comes after the country held the second edition of the Reserve Bank of Zimbabwe’s forex auction system. The inaugural edition of the forex auction system […]
We Are Still Operating: EcoCash Responds To Govt, Disregards Ban On Mobile Money
Ecocash Responds To Govt Ban Ecocash Responds To Govt Ban In a follow up to a Government directive banning all mobile money transfers, EcoCash has told customers to ignore the ban and continue using the transfer. In what promises to be a clash of giants, EcoCash also urged its customers to remain calm. In […]
EcoCash, Govt Headed For Clash As Mobile Transfer Giant Disregards Ban
EcoCash Disregards Ban EcoCash Is A Ponzi Scheme: RBZ In a follow up to a Government directive banning all mobile money transfers, EcoCash has told customers to ignore the ban and continue using the transfer. In what promises to be a clash of giants, EcoCash also urged its customers to remain calm. In a statement […]
RBZ Speaks On Rejection Of Zimbabwe Dollars
RBZ Speaks On Rejection Of Zimbabwe Dollars The Reserve Bank of Zimbabwe (RBZ) has released a statement about the legal money tenders in the country. This comes after numerous reports confirmed that some business entities and individuals are now rejecting all coins as well as the $2 banknote. In a few extreme cases, some […]
RBZ Limits Bank Transfers As It Battles To Cripple Forex Black Market | BREAKING
RBZ Limits Bank Transfers The Reserve Bank of Zimbabwe (RBZ) has directed banks to limit internal bank transfers to cripple the foreign currency black market. The central bank’s Financial Intelligence Unit (FIU) today directed all banks to limit internal transfers to a maximum of just 2 per customer per day. iHarare has noted that […]
RBZ Imposes New Limits On ZIPIT Transactions As It Battles To Throttle Forex Black Market
RBZ Imposes New ZIPIT Limits The Reserve Bank of Zimbabwe (RBZ) has imposed new limits on ZIPIT transactions in an effort to throttle the foreign currency exchange black market. The central bank through the Financial Intelligence Unit (FIU) has directed all banks to lower daily and monthly ZIPIT limits. According to the monetary authorities, […]
With The New ZWL $10 Banknote Worth Just US$0.25, Is RBZ Serious?
Is RBZ Serious? | Terence Zimwara The Reserve Bank of Zimbabwe (RBZ) last week came through with its promise to issue higher denominated banknotes, with the first of these, the ZWL$10, coming into circulation on last Tuesday. This follows a statutory instrument issued a week earlier which gave effect to the new banknotes. The […]