Underwriting Administrator (Bulawayo)

Property Portfolio Manager (Bulawayo)

Undertaker (Harare & Bulawayo)

Mortician (Harare & Bulawayo)

Funeral Consultant (Harare & Bulawayo)

Accounts Officer (Bulawayo)

Transport Clerk (Harare)

Senior Research Officer in Molecular Biology (Harare)

Genomics Technician (Harare)

Semi-Skilled DPF/Tractor Mechanic (Chipinge)

Department of Clothing and Textile Lectureship Position

Department of Environmental Science and Technology Lectureship Positions x4

Department of Biotechnology – Lectureship Positions x2

Department of Food Science and Technology Lectureship Position

Department of Material Science and Engineering Technology Lectureship Positions x2

Department of Information Technology Lectureship Position

Department of Biology Lectureship Position

Department of Mathematics and Statistics Lecturer Position

Department of Chemistry Lectureship Position

Management Accountant (Harare)

Canteen Cook (Harare)

Canteen Supervisor (Grade 5)

Driver (Mutare)

Strategic Information and Evaluation (SIE) Clerks

Field Officers: SUPPORT-TB

Provincial TB Focal Person (Mutare, Gweru)

Communication and Stakeholder Engagement Manager (Harare)

Workshop Foreman (Harare)

Business Unit Manager (Bulawayo)

Parts Manager (Harare)

Branch Managers (Harare)

Draughtsperson (Norton)

Graduate Trainee – Human Resources (Harare)

Procurement Manager (Harare)

Finance Administrator (Harare)

Artisan Electricians (Chipinge)

Electrician (Harare)

Assistant Motor Bike Mechanic (Harare)

Motor Bike Mechanic (Harare)

Transport Mechanic (Harare)

Registered General Nurse: Fixed Term (Bulawayo)

Front Desk Assistant -Glenview Wellness Clinic (Harare)

2025 Apprenticeship Intake: CFAO

2025 Apprenticeship Training Intake

Exhibitions Officer (Harare)

General Manager (Harare)

Optical Dispensing Assistant

Welder

Lecturer/Senior Lecturer/Associate Professor/Professor: Accountancy x5

Lecturer/Senior Lecturer/Associate Professor/Professor: Mathematics x2

Lecturer/Senior Lecturer/Associate Professor/Professor: Human Capital Management x2

Lecturer/Senior Lecturer/Associate Professor/Professor: Marketing

Lecturer/Senior Lecturer/Associate Professor/Professor: Analytical Chemistry

Sales Manager (Harare)

Personal Assistant (Harare)

General Hand (Bulawayo)

Internal Audit Assistant (Harare)

Sales Driver (Bindura)

Dog Handler (Marondera)

Personal Assistant To The Librarian (Marondera)

General Trade Business Development Manager (Harare)

EcoCash has launched EcoPay, a new online payment system designed to allow organisations to make instant payments to over 100,000 beneficiaries simultaneously.
EcoPay enables businesses and organisations to pay salaries, disburse pensions, pay farmers for agricultural produce, and distribute relief funds to communities efficiently, using a secure, fast, and transparent payment processing platform.
Speaking at the launch of EcoPay in Harare on Tuesday, an EcoCash commercial executive, Gilbert Tsongorera, said:
<blockquote>
EcoPay is tailor made to meet the payment needs of a diverse range of organisations, from corporate entities to non-governmental organisations (NGOs) as well as those in the agricultural sector.
It offers a fast and seamless solution for handling large-scale disbursements with enhanced control, efficiency and great transparency.
It helps organisations process payments securely and promptly, ensuring better financial management.
</blockquote>
Tsongorera explained that the platform’s advanced, web-based interface allows organisations to streamline their bulk payment processes, effectively eliminating the need for manual interventions. He said:
<blockquote>
This not only speeds up disbursements but also enhances transparency, making it easier for organizations to initiate, approve and track payments through a user-friendly interface.
</blockquote>
He also said that EcoPay boasts several advanced features, such as instant account balance viewing, which aids users in making timely cash flow and expenditure decisions.
The platform generates comprehensive reports, providing organizations with clear insights into their payment transactions, while also eliminating errors and validating EcoCash numbers during payments. Said Tsongorera:
<blockquote>
The platform has user-friendly informative dashboards that offer real-time updates and business analytics, making it easier for organizations to track and manage their payments.
</blockquote>
EcoPay also allows organisations to upload documents, generate reports and track payments progress independently. Said Tsongorera:
<blockquote>
EcoPay’s self-service approach gives organizations greater autonomy.
Corporates, government departments, NGOs and even farmers can now upload payment instructions, generate real-time reports, and track disbursements on their own.
This not only enhances operational control but also boosts productivity across various sectors.
</blockquote>
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Pindula News

EcoCash launched EcoPay, a new online payment system for organizations to pay many people at once. It helps businesses pay salaries, pensions, farmers, and relief funds quickly and safely. EcoPay has features like instant balance checking and generating reports for better financial management. It makes payments easy and transparent, with no need for manual work. Organizations can track payments and manage them independently. EcoPay aims to help different groups like companies, NGOs, and farmers to handle payments efficiently.

EcoCash Launches EcoPay For Instant Bulk Transactions

EcoCash, Zimbabwe’s leading mobile money platform, has announced a partnership with MultiChoice Zimbabwe to offer customers a convenient and secure way to pay their DStv subscriptions.
This collaboration allows EcoCash users to pay their monthly DStv fees directly from their EcoCash wallet, enabling instant activation of their DStv account.
With this partnership, EcoCash customers can access a wide range of international sports, entertainment, news, and current affairs from the comfort of their homes.
The mobile money firm aims to simplify the payment process, making it easier for customers to enjoy their favourite TV shows and sports.
DStv, offered by MultiChoice, provides exclusive content, including the latest movies and live sports, such as the English Premier League.
<img alt='May be an image of 2 people, people playing football, people playing American football, phone and text that says "DSt rates Dial *151# Follow These Simple FollowTheseSimpleSteps: Steps: 1.Select USD Currency Kickoff the soccer season with DSTV 2.Select Make Payments 3.Select Direct Payments 4.Select Pay DStv EooGaeh Downlcoo GooglePay AppStore www.ecocest.co.2W 5.Select Renew Subscription Live Life the EcoCash Way f·0® +203777222151- EcoCash"' decoding="async" src="https://scontent.fhre1-1.fna.fbcdn.net/v/t39.30808-6/456580890_935866775247652_1943021546478156632_n.jpg?_nc_cat=107&amp;ccb=1-7&amp;_nc_sid=833d8c&amp;_nc_ohc=KgxVqGz6Ei8Q7kNvgGiczcP&amp;_nc_ht=scontent.fhre1-1.fna&amp;oh=00_AYCWCi0SBRQ9Z7PkJ7jE3wSitQfl1-4waoQE9XBAQf13YQ&amp;oe=66D61D6D"/>
EcoCash encourages customers with smartphones to use the EcoCash app for fast and easy payments. 
Alternatively, customers can use the USSD channel to pay their DStv subscriptions, which will result in the automatic reactivation of their account.
This partnership demonstrates EcoCash’s commitment to adding value to its customers by creating convenient payment options.
By working together, EcoCash and MultiChoice aim to enhance the viewing experience for DStv subscribers in Zimbabwe.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

EcoCash and MultiChoice in Zimbabwe are working together to make it easy for people to pay their DStv subscription using mobile money. This means customers can watch their favorite shows and sports quickly and conveniently from their homes. EcoCash wants to make paying for DStv simple for its customers, whether they use their app or the USSD channel. This partnership is meant to improve the viewing experience for DStv subscribers in Zimbabwe. It's a way for both companies to help people enjoy their entertainment without any hassle.

EcoCash Partners With MultiChoice Zimbabwe For Convenient DStv Payments

Hello there! We have great news for you. Now you can easily purchase NetOne airtime using EcoCash and InnBucks on our platform *405#.
Don’t worry about any hassle. Just dial *405# to buy NetOne airtime. You can make payments with EcoCash or InnBucks. You can choose to pay in Zimbabwean dollars (ZWL$) or United States dollars (USD).
<img alt="" class="alignnone size-medium wp-image-270912" decoding="async" height="300" loading="lazy" sizes="(max-width: 300px) 100vw, 300px" src="https://news.pindula.co.zw/wp-content/uploads/2024/02/na3-300x300.jpg" srcset="https://news.pindula.co.zw/wp-content/uploads/2024/02/na3-300x300.jpg 300w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na3-1024x1024.jpg 1024w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na3-150x150.jpg 150w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na3-768x768.jpg 768w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na3-60x60.jpg 60w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na3-90x90.jpg 90w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na3.jpg 1080w" width="300"/> <img alt="" class="alignnone size-medium wp-image-270913" decoding="async" height="300" loading="lazy" sizes="(max-width: 300px) 100vw, 300px" src="https://news.pindula.co.zw/wp-content/uploads/2024/02/na4-300x300.jpg" srcset="https://news.pindula.co.zw/wp-content/uploads/2024/02/na4-300x300.jpg 300w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na4-1024x1024.jpg 1024w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na4-150x150.jpg 150w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na4-768x768.jpg 768w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na4-60x60.jpg 60w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na4-90x90.jpg 90w, https://news.pindula.co.zw/wp-content/uploads/2024/02/na4.jpg 1080w" width="300"/> <img alt="NetOne Airtime" class="alignnone size-medium wp-image-270911" decoding="async" height="300" loading="lazy" sizes="(max-width: 300px) 100vw, 300px" src="https://news.pindula.co.zw/wp-content/uploads/2024/02/NetOne-Airtime-300x300.jpg" srcset="https://news.pindula.co.zw/wp-content/uploads/2024/02/NetOne-Airtime-300x300.jpg 300w, https://news.pindula.co.zw/wp-content/uploads/2024/02/NetOne-Airtime-1024x1024.jpg 1024w, https://news.pindula.co.zw/wp-content/uploads/2024/02/NetOne-Airtime-150x150.jpg 150w, https://news.pindula.co.zw/wp-content/uploads/2024/02/NetOne-Airtime-768x768.jpg 768w, https://news.pindula.co.zw/wp-content/uploads/2024/02/NetOne-Airtime-60x60.jpg 60w, https://news.pindula.co.zw/wp-content/uploads/2024/02/NetOne-Airtime-90x90.jpg 90w, https://news.pindula.co.zw/wp-content/uploads/2024/02/NetOne-Airtime.jpg 1080w" width="300"/>
Here are the simple steps to follow:
1. Dial *405# on your phone.
2. Press 1 if you want to purchase ZWL Airtime or Bundles, OR press 2 for USD Airtime or Bundles.
3. Press 1 to continue.
4. Enter the number receiving the airtime
5. Choose the package you want to buy.
6. Enter your EcoCash number.
7. Press 1 to confirm the transaction.
8. A pop-up message will appear, asking you to enter your PIN. Enter your EcoCash PIN, then click OK to submit your PIN.
If you have enough funds, the transaction will be complete.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Dial *405# For Easy Purchase Of NetOne Airtime With EcoCash And InnBucks

Stanley Sakupwanya, a Member of Parliament of the Manicaland Youth Caucus, has said content creators in Zimbabwe face significant challenges in monetizing their content directly into Zimbabwean bank accounts. He attributes these challenges to the sanctions imposed on Zimbabwe by Western countries. In a recent speech in the Zimbabwean Parliament, Stanley Sakupanywa discussed the challenges faced by content creators in the country. Sakupwanya said:
<blockquote>
Today, we live in a technology-driven global society which has veered from the traditional media streams as sources of information and entertainment, having transcended to social media through social networks such as Facebook, YouTube and “X” formerly known as Twitter.
          Content creators from Zimbabwe have been disadvantaged as they are unable to monetise their content directly into Zimbabwean bank accounts and this is a direct result of sanctions. For as long as you want to use a Zimbabwean bank account, you will be unable to monetise your views on social media networks, something which can be easily done in South Africa. This results in our young creative minds being forced to leave the country for them to attain value for their shared content on the global social networks. Should we therefore keep quiet when a deliberate brain-drain is caused by sanctions? No way!
          Madam Speaker, as we speak to the effect of sanctions, it must be noted that these have a negative bearing as well on our ability to export. I come from a province where many indigenous farmers have embarked on farming macadamia nuts. While the global price for macadamia nuts is going up, our farmers are put in a choke-hold because the European channel of export has been closed off to them due to sanctions for the simple reason that if you produce macadamia nuts from a land reform farm, then the produce is not taken up by the EU market. This means our ability to compete fairly on the global market is hammered and this is an infringement to our rights as global citizens.
</blockquote>
Journalist Plot Mhako points out additional obstacles faced by content creators in Zimbabwe. These include the financial situation, difficulties in obtaining Visa, Mastercard, or Paypal accounts, and unreliable postal services. For example, YouTube requires a physical letter with an activation code to complete the monetization registration process, which can be challenging to receive in Zimbabwe. He said:
<blockquote>
In Zimbabwe, for an artist to monetize their content comes with several limitations. The financial situation is the first barrier. To get a Visa, Mastercard or a Paypal account is a difficult thing to secure. Banks offer pre-paid Visa / Mastercards that are not eligible for YouTube monetization configuration. Secondly, the postal service is less reliable. A letter may take ages to reach you or may never arrive. Once you complete the YouTube registration process, YouTube has to send a physical letter with a code which activates your Adsense account. This makes it difficult for a content creator/artist to complete the YouTube Partnership application for the monetization registration process unless they have a willing friend or relative, collaborator or distributor in the diaspora.
</blockquote>
Edwin Chabuka, an editor at <a href="https://www.techzim.co.zw/">Techzim</a>, said the focus is difficulty for local content creators to monetize. He told Pindula News:
<blockquote>
With X (formerly Twitter), Zimbabwe is not yet supported for monetization. You will have to change the account country to one that is not Zimbabwe.
Not all Zimbabwean-issued Visa and Mastercards will work as forms of receiving payment. An alternative is PayPal but… 
Zimbabwean PayPal accounts can only make payments but they cannot receive payments. For receiving payments you need an account that is from a non-sanctioned country. Also, PayPal is a wallet similar to <a href="https://www.pindula.co.zw/EcoCash_Zimbabwe/">EcoCash</a> so it’s not universally supported by freelance platforms or social media platforms with monetization features.
</blockquote>
The challenges faced by content creators in Zimbabwe are not unique to the country. Filmmakers in Botswana, for instance, encounter limitations in monetizing their content on YouTube due to regional intellectual property restrictions, inability to meet subscription thresholds, and low viewership turnout. The algorithmic bias, geo-restrictions, and economic dynamics of platforms like YouTube also contribute to the difficulties faced by content creators, not only in Zimbabwe but globally.
While sanctions have had an impact on Zimbabwe’s access to global financial systems, it is crucial to recognise that addressing the challenges faced by content creators requires a comprehensive approach. This includes implementing economic reforms, improving financial infrastructure, and formulating policies that encourage international financial integration. By addressing these broader economic and regulatory factors, Zimbabwe can create an environment that fosters the monetization of content within the country and supports a more inclusive and equitable entertainment industry.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

"Zimbabwean Content Creators Face Challenges Monetizing In Local Banks Due To Sanctions" - MP

Listed companies Econet Wireless Zimbabwe (Econet) and EcoCash Holdings (EcoCash) have received approval from the central bank to conduct rights offers in United States dollars. Rights offers are a corporate action where existing shareholders are given the opportunity to purchase additional shares at a discounted price. It allows companies to raise capital from their current investors, who have the right to buy new shares before they are offered to the public.
Through these rights offers, Econet and EcoCah aim to raise $30.3 million each from their existing shareholders. The companies were unable to obtain foreign currency through the Reserve Bank of Zimbabwe’s auction process to redeem their debentures (long-term loans), which matured in April 2023. As a result, they sought exchange control approvals to proceed with the rights offers.
In separate statements on Tuesday, the companies stated that the ultimate Zimdollar price for the shares would be determined when they receive foreign currency on the interbank market to redeem the debentures, following the country’s exchange control laws. Econet said:
<blockquote>
Members are hereby advised that the company has now obtained exchange control approval for the rights offer to be made in United States dollars.
</blockquote>
The companies said the final price of the shares will be determined when the companies receive foreign currency on the interbank market to redeem the debentures. Shareholders registered as of September 1, 2023, will have the option to exercise their rights using the local currency. A deposit will be required for each share, with the remaining balance to be paid once foreign currency has been secured. The applicable exchange rate will be the prevailing interbank rate plus a 10% margin.
The rights offer is scheduled to open on September 11, 2023, and close on September 29, 2023, with the results expected to be announced on October 6, 2023. The debentures stem from a capital raise exercise in 2017, which aimed to secure foreign currency for external loan repayments.
This approval allows Econet and EcoCash to proceed with their rights offers in an effort to raise the necessary funds from existing shareholders. It provides them with an alternative means to obtain foreign currency, as they were unable to access it through the Reserve Bank of Zimbabwe’s auction process.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Econet And EcoCash Received Central Bank Approval For US Dollar Rights Offers

Ecocash has opened a new remittance centre at Joina City, located at the centre of Harare, Zimbabwe, which allows customers to receive money from both local and international sources.
The company said the remittance centre provides an integrated platform for all remittance-related services, including the EcoCash Cash-In and Cash-out services.
Ecocash said the centre aims to streamline the money transfer process, facilitating quick and secure transactions and ensuring a seamless customer experience.
The remittance centre is open for longer hours, including on Saturdays and half-day Sundays, to offer additional convenience to customers. The latest development comes after the recent reduction of the Intermediated Money Transfer Tax (IMTT) from 2% to 1% by the government, which has been widely applauded by the market and has resulted in an increase in the usage of mobile money services in the country.
Ecocash has been operating on low key since July 2020 when the Reserve Bank of Zimbabwe (RBZ) blocked EcoCash agents from conducting cash-in and cash-out transactions, citing concerns over illicit foreign currency dealings. The move was aimed at curbing the activities of illegal foreign currency dealers who were using EcoCash agents to exchange cash for foreign currency at exorbitant rates, causing distortions in the foreign exchange market.
The RBZ also accused EcoCash of failing to implement adequate Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, which it claimed had facilitated illegal activities. The move caused significant disruptions to the operations of EcoCash agents, who had to suspend cash-in and cash-out services, leading to an outcry from customers who relied on the service for their daily transactions. The RBZ later reversed the decision, allowing EcoCash agents to resume cash-in and cash-out transactions, subject to new regulations aimed at curbing illegal activities.
Ecocash has implemented a new licensing system for its agents, which involves thorough vetting to ensure compliance with regulations and the mitigation of risks associated with illicit activities. According to an Ecocash officer who spoke to Pindula News, the new licensing system requires agents to provide proof that they have installed CCTV and panic buttons, among other requirements. The new guidelines are aimed at ensuring that only businesses that meet the required standards are licensed to offer EcoCash services, thus reducing the risk of illicit activities such as money laundering and illegal foreign currency trading. As a result, only big retailers or businesses that can meet the stringent requirements have been able to obtain the licenses. 
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Ecocash Has Opened A New Remittance Centre In Harare

The Reserve Bank of Zimbabwe Financial Intelligence Unit (FIU) said that retailers and manufacturers who were exclusively charging certain goods in foreign currency and using the street market rate for currency conversion have agreed to reconsider their pricing models.
In an interview with <a href="https://www.sundaynews.co.zw/16-bank-accounts-frozen-in-rbz-price-blitz-overpricing-shops-penalised/">State media</a>, FIU director-general Oliver Chiperesa said that the Unit has received assurances from retailers that they will adjust their prices in line with the prevailing official exchange rate while also accepting Zimbabwe dollars for all products. Said Chiperesa:
<blockquote>
We engaged with them and they have assured us that they are relooking into their pricing models.
Yes, some had items that they were not allowing clients to pay for using the local currency, but we have told them that is not acceptable and they agreed to rectify it.
They also assured us that customers will be able to pay in local currency for all goods whose prices have been marked in foreign currency only.
</blockquote>
He, however, said there were still some rogue businesses who they continue to monitor to ensure that they were brought to book.
Chiperesa gave an example of one supermarket in Belvedere, Harare, saying it had a rate higher than the parallel market. He said:
<blockquote>
On Friday we found out that this supermarket was using an exchange rate of US$1:ZW$10 000 which has no relationship with even the parallel market.
So it is just a rate they came up with as forward pricing just to destabilise the rates because the most extreme parallel market rates were 8 000, but they are beginning to go down.
</blockquote>
Last week, the RBZ set the official exchange rate at US$1: ZW$5 900 while the street rate was hovering at US$1: ZW$9 000.
However, some large retailers were using at least US$1: ZW$10 000 for selected products while popular fast-food outlets were rejecting the local currency on the pretext that their point-of-sale machines were not working and therefore could not accept swipe and EcoCash payments.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Shops Agree To Sell Products In ZimDollars At The Official Rate - RBZ

EcoCash has announced that Zimswitch transactions are intermittent adding that technicians were working diligently to restore normal service as soon as possible.
In a statement seen by Pindula News, the mobile money transfer platform said all other EcoCash services, including banking services, send money, airtime, merchant and <a class="MarkdownLink_linkifiedLink__KxC9G">bill payments</a>, and <a class="MarkdownLink_linkifiedLink__KxC9G">domestic money transfer services</a> (cash in, cash out, send money, and airtime) are functioning normally. Reads the statement:
<blockquote>
Dear Valued Customer
Please note that Zimswitch transactions are intermittent. Our technical team is working to restore normal service at the earliest.
We apologise for any inconvenience caused.
All other EcoCash services are working normally (Banking services, Send money, Airtime, Merchant and Bill payments) and Domestic Money Transfer services (Cash in, Cash out, Send money and Airtime)
Every EcoCash Customer already has an active USD wallet.
</blockquote>
Zimswitch is a Zimbabwean company that provides <a class="MarkdownLink_linkifiedLink__KxC9G">financial switching</a> and electronic payment processing services. It connects different banks and financial institutions, allowing them to exchange financial transactions with their customers. Zimswitch provides a platform for various <a class="MarkdownLink_linkifiedLink__KxC9G">electronic payment systems</a>, including <a class="MarkdownLink_linkifiedLink__KxC9G">ATMs</a>, point-of-sale (POS) devices, <a class="MarkdownLink_linkifiedLink__KxC9G">mobile banking</a>, and Internet banking.
When a customer uses their debit or credit card at an <a class="MarkdownLink_linkifiedLink__KxC9G">ATM</a> or <a class="MarkdownLink_linkifiedLink__KxC9G">POS device</a>, for example, the transaction is processed through the Zimswitch network. The transaction is first sent to the customer’s bank, which then sends it to Zimswitch. Zimswitch then routes the transaction to the appropriate bank that holds the account of the merchant or recipient. This process ensures quick and seamless transfer of funds between different financial institutions in <a class="MarkdownLink_linkifiedLink__KxC9G">Zimbabwe</a>.
The malfunctioning of <a class="MarkdownLink_linkifiedLink__KxC9G">Zimswitch </a>can cause <a class="MarkdownLink_linkifiedLink__KxC9G">transaction delays</a>, limited access to funds, and loss of revenue.
<h2><a href="https://www.pindula.co.zw/">More Pindula News</a></h2>

EcoCash Reports Intermittent Zimswitch Transactions, Technicians Working To Restore Service

<a href="https://www.pindula.co.zw/EcoCash">EcoCash</a>, a mobile money transfer facility which is run by <a href="https://www.pindula.co.zw/Econet_Wireless_Zimbabwe" title="Econet Wireless Zimbabwe">Econet Wireless Zimbabwe</a>, has partnered with Spar, a supermarket retail chain, for USD cash-in and cash-out services.
EcoCash chief operating officer Munyaradzi Nhamo confirmed the partnership, saying it will offer customer convenience to millions of EcoCash users. Nhamo told <a href="https://www.herald.co.zw/ecocash-partners-spar-for-usd-cash-in-and-cash-out-services/">The Herald</a>:
<blockquote>
We (EcoCash) are pleased to be partnering with Spar Zimbabwe, one of the country’s largest supermarket groups, to allow our customers the convenience to cash-in and cash-out while shopping in Spar supermarkets.
With a large retail network across the country, Spar Zimbabwe is an incredible partner for EcoCash, and we are excited about the opportunities this collaboration offers for our mutual customers.
</blockquote>
Spar Zimbabwe, is an established retail organisation with over 46 branches in Harare, Bulawayo and other major towns in the country. 
Mr Nhamo said the partnership will be a great addition to EcoCash’s remittance services. 
EcoCash previously partnered with some global partners, such as SasaiRemit, WorldRemit, Western Union and Remitly, among many others, to facilitate the remittance of foreign currency into Zimbabwe.
The EcoCash platform enables customers to send and receive money using their phones, buy airtime or data and pay for goods and services.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

EcoCash Partners With Spar For USD Cash-in, Cash-out Services

EcoCash has reduced its US dollar transfer charges following the government’s reduction of the Intermediated Money Transfer Tax (IMTT) to 2%, down from 4% effective from 1 January 2023.
In a notice to its customers, EcoCash said the 2% tax only applies to transactions higher than US$5. It also said all cash-in transactions were free.
EcoCash US dollar transfers are done via the EcoCash US dollar wallet, accessible by dialling *153# on an EcoCash registered Econet line.
The EcoCash wallet allows users to cash in, cash out, send money, receive money, make payments and buy airtime in US dollars. A company spokesperson said:
<blockquote>
The beauty about the EcoCash USD wallet is that there is no need to register a new wallet, as all existing registered EcoCash customers have the USD wallet by default on their profile, which is accessible by simply dialling *153#.
</blockquote>
Cash-in can be done at Econet Shops, OK Supermarkets, and Steward Bank branches throughout the country, or at over 500 EcoCash branded merchant outlets across the country.
Following the reduction in transfer charges, a registered EcoCash customer will pay a total of US$0.33 (US$0.20 IMT tax, and US$0.13 EcoCash fee) when sending US$10.
Those cashing out US$10 will be charged US$0.17 in transaction charges.
Sending US$50 now attracts a 2% tax of US$1.00 and a US$0.65 transaction charge, bringing the total transfer fees to US$1.65, while those cashing out US$50 will be charged US$0.85.
Sending US$100 will cost US$3.30 – made up of US$2 in tax and US$1.30 in transaction fees. Cashing out US$100 attracts US$1.70 in charges. | <a href="https://www.herald.co.zw/ecocash-slashes-its-us-dollar-transfer-charges/">The Herald</a>

EcoCash Lowers Its US Dollar Transfer Charges

EcoCash has announced a scheduled system maintenance that will disrupt services on the platform that include Send Money, Merchant Payments and ZIPIT, among others.
The scheduled system maintenance will be conducted from 9 PM this Saturday to 6 AM on Sunday. EcoCash said in a notice:
<blockquote>
Please note that we will be performing a scheduled system maintenance from Saturday the 10th of September 2022 from 21:00hrs to Sunday the 11th of September 2022 at 06:00hrs.
The following EcoCash services will be intermittent during this time; Send Money, Merchant Payments, Banking Services, ZESA, ZIPIT &amp; Airtime.
We apologise for any inconvenience that may be caused as a result of the scheduled maintenance.
</blockquote>
Meanwhile, the Zimbabwe National Roads Administration (ZINARA) has urged motorists to make use of alternative payment methods such as ZINARA Prepaid Card, Frequent Traveler Express Pass (FTEP), Debit cards and cash during the period when the EcoCash payment platform will be unavailable.

EcoCash: Service Disruption During System Maintenance

EcoCash Holdings has launched “EcoCash Junior Wallet”, a mobile wallet for children between 9 and 18 years of age.
Speaking at the launch of the service in Harare on Friday, EcoCash Holdings chief executive officer, Eddie Chibi said only parents and guardians are allowed to register and fund the wallet on behalf of children from their wallets. He said:
<blockquote>
This way, parents have control of re-setting pins and keep track of transactions made by the child.
The idea is to enable children to take charge of their own pocket money and savings with the help of their parents and, in the process, nurture in them financial stewardship and discipline at an early age.
</blockquote>
Chibi added that teens and younger children can use the EcoCash Junior Wallet to buy goods online and in-store, buy airtime, as well as conduct peer-to-peer transfers.
He said the wallet can be funded with either Zimbabwe dollars or United States dollars through cash-in, peer-to-peer transfers or via bank-to-wallet transfers from the guardian or parent.
EcoCash chief operating officer Munyaradzi Nhamo said that the Junior Wallet transaction limits for payments are ZW$35 000 per/day and ZW$240 000 per month, and up to US$175/day and US$700/month on the USD wallet.
To register for the EcoCash Junior Wallet, parents or guardians need to dial *151# (for ZWL wallet) or *153# (for USD wallet), select option 5 – Junior Wallet, then enter child information, including first name, last name, date of birth, identification number and phone number.
They then confirm registration details, and the child will be activated.
Parents or guardians will still be required to attach the KYC documents of the child on a web portal, accessible on https://selfcare.ecocash.co.zw for the account to remain active. | <a href="https://www.herald.co.zw/ecocash-launches-ecocash-junior-wallet-as-the-mobile-money-business-targets-the-youth/">The Herald</a>

EcoCash Launches Wallet For Children Called "EcoCash Junior Wallet"

EcoCash Holdings Zimbabwe is set to retrench some of its staff members, after the automation of our key business processes that render some workers redundant.
In a statement, the company said it is working closely with affected staff, stakeholders and regulators to ensure the process is consultative, transparent and compliant. EcoCash said:
<blockquote>
The changing economic operating environment has necessitated a strategic refocus as we look to increase the competitiveness of our business.
This follows the successful automation of our key business processes. Regrettably, the process will result in the reduction of our overall staff complement across the group.
</blockquote>
More: <a href="https://www.sundaymail.co.zw/ecocash-to-retrench">The Sunday Mail</a>

EcoCash To Lay Off Workers

Zimbabwe’s leading mobile money platform, EcoCash, has introduced a new service that allows customers to make real-time, multicurrency (ZWL or USD) bill payments and allow for automatic monthly bill payments.
Dubbed “EcoCash Bill Manager”, the new service enables express payments, a service that allows customers to save regular service provider billing details and allow customers to quickly buy airtime and data bundles.
The express payments feature also has an option for customers to check their account balances.
Announcing the new service on Thursday, EcoCash chief operating officer, Munyaradzi Nhamo, said:
<blockquote>
Our customers will now be able to make real-time payments and get instant updates on the status of their accounts.
They will also be able to set recurring bill payments for auto-collection by the service or utility providers, straight from their mobile wallets, on a monthly basis.
All they will need to do is authorize the payment; EcoCash Bill Manager will automatically fetch the bill from the service provider and present it to the customer for payment authorization.
</blockquote>
Nhamo said that EcoCash users will now never miss a payment because EcoCash Bill Manager will remind them. He said:
<blockquote>
EcoCash Bill Manager puts the power into the customer’s hands. They will have the convenience and flexibility to make one-time payments, or to automatically schedule mandates for recurring payments to their utility or service provider.
</blockquote>
EcoCash said customers that use the EcoCash Bill Manager online will get an instant email notification, with proof of payment, once they pay their bills.
They will also be able to access and download EcoCash statements on demand.
Some of the billers on the EcoCash Bill Manager include ZESA prepaid tokens, CIMAS, Nyaradzo etcetera.
<h4>More: <a href="https://www.chronicle.co.zw/ecocash-unveils-new-bill-management-service/">Chronicle</a></h4>

EcoCash Launches New Bill Management Service

EcoCash, Zimbabwe’s largest mobile phone-based money transfer, financing and microfinancing service, has announced that PayPal can send money directly into an EcoCash account, Pindula News can reveal.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system that serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
It has been impossible in the past for individuals based in Zimbabwe to receive money via PayPal
In 2021, <a href="https://www.techzim.co.zw/2021/05/wait-so-we-could-receive-money-via-paypal-in-zim-all-along/#:~:text=You%20can%20still%20open%20a,opening%20a%20Merchant%20PayPal%20account.">Techzim</a> reported, however, that there were changes suggesting that one can receive funds in a PayPal merchant wallet in Zim. Read part of the article:
<blockquote>
You can still open a PayPal account in Zim and use it to make payments if it is linked to your USD card, most often it’s a prepaid card. However, it looks like there is a “loophole” for Zim accounts to receive funds via a PayPal wallet and it’s through opening a Merchant PayPal account.
</blockquote>
The latest development would be great news for those who want to receive their money from abroad. EcoCash stated that “you cannot send money to PayPal.” 
EcoCash says one can make online transactions using VCN if they fund their FCA accounts. 
To start sending money from PayPal to EcoCash, one needs to create a PayPal account and select mobile pick up when sending funds so that the funds are credited into the recipient’s FCA wallet. The recipient is able to cash out USD at Econet Shops.
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed <a href="https://zero.pindula.co.zw/download/?utm_source=PindulaArticles&amp;utm_campaign=DownloadLink">via the App. Download it here</a></h2>

JUST IN: PayPal Can Send Money Directly Into Ecocash

<a href="https://www.pindula.co.zw/EcoCash">EcoCash</a> has made it possible for users on the platform to request money from other users. In a notice seen by Pindula News, EcoCash, a mobile money transfer facility run by <a href="https://www.pindula.co.zw/Econet_Wireless_Zimbabwe" title="Econet Wireless Zimbabwe">Econet Wireless Zimbabwe,</a> said, “FINALLY, You can do the send money process for them. Request money directly from their wallet today! Why wait for them to send you money?” 
To request money, one only needs to be registered on EcoCash. Then:
<blockquote>
• Dial *151#
• Select Option 1 — Send Money 
• Select Option 6— Request Money 
• Select Option 1 — Create Request 
• Enter Amount, 
• Enter Mobile Number
• Enter Reference 
• Select Option 1 – Confirm Request
</blockquote>
 
<img alt="May be an image of 1 person and text that says 'EcoCash Why wait for them to send you money? Dial *151# to request for money •Select Option Send Money Select Option Reques Money .Select Option -Create Request .Enter Request Details- Amount, Mobile number, and Reference Confirm Request Downloadthe EcoCash now AppS Live Life the EcoCash Way 1'°O www.ecocash.co.zw EcoCash HOLDINGS'" class="aligncenter" decoding="async" src="https://scontent.fhre2-2.fna.fbcdn.net/v/t39.30808-6/290627653_2128186554017954_6411396786895921734_n.jpg?stp=dst-jpg_p843x403&amp;_nc_cat=108&amp;ccb=1-7&amp;_nc_sid=8bfeb9&amp;_nc_ohc=u_Gz0znaCCIAX9vM6QW&amp;_nc_ht=scontent.fhre2-2.fna&amp;oh=00_AT_GaC3Y5lFi3aWU0G5WnKlqCYNft_utQ7nIpSZaShVFqg&amp;oe=62BC654A"/>
<h2> </h2>
Those being requested to send money will receive a message which says:
<blockquote>
Money Request. RTGS$XXXXX from XXXX XXXXX Approval Required: XXXXXX. Request expires in 2 hrs, dial *151*1*6*3# to approve request.
</blockquote>
EcoCash recently <a href="https://news.pindula.co.zw/2022/06/23/ecocash-transaction-limits-raised/">increased its transaction limits</a> to enable its customers to transact fairly huge amounts amid rising inflation.
Users are now able to send up to ZWL$280 000 per month and to shop and pay bills of up to ZWL$400 000 in a single month.
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed <a href="https://zero.pindula.co.zw/download/?utm_source=PindulaArticles&amp;utm_campaign=DownloadLink">via the App. Download it here</a></h2>

EcoCash Makes It Possible For Users To Request Money From Other Users

EcoCash has increased its transaction limits to enable its customers to transact fairly huge amounts amid rising inflation.
Users are now able to send up to ZWL$280 000 per month and to shop and pay bills of up to ZWL$400 000 in a single month. EcoCash said:
<blockquote>
The good news for EcoCash customers is that they can now transact up to the monthly limit in a day, allowing them to transact at their discretion in line with their income.
While EcoCash customers are still limited to sending a maximum of Z$10 000 on send money per transaction, and Z$50 000 for shopping and paying bills, they can now repeat those transactions up to the monthly limit of Z$280 000 or Z$400 000 in a day, respectively.
</blockquote>
Due to rising inflation, members of the public have been struggling to make payments using EcoCash due to the transaction limits.
For example, farmers could not pay for inputs in one go as the transaction limit for paying merchants was ZWL$25 000.
<h4>More: <a href="https://www.chronicle.co.zw/ecocash-limits-reviewed-to-z280-000-per-month-z400-000-to-shop-and-pay-bills/">Chronicle</a></h4>

EcoCash Transaction Limits Raised

Ecocash, Zimbabwe’s largest mobile phone-based money transfer, financing and microfinancing service, has announced that transaction limits were reviewed this week. New limits are as follows:
<blockquote>
<h2>a). Sending Money:</h2>
i). ZW$10 000 per transaction 
ii). ZW$70000 per week or per day.
<h2>b). Merchant and Bill Payment</h2>
i). ZW$50 000 per transaction 
ii). ZW$100 000 per week or per day.
</blockquote>
The review comes at the backdrop of soaring inflation.
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

Ecocash Transaction Limits Have Been Reviewed

EcoCash has launched a new service that will allow customers to cash-in and cash-out United States dollars at Econet shops and Steward Banks.
The new service was launched on Friday in Harare at an event that was attended by senior representatives from the Reserve Bank of Zimbabwe, EcoCash channel partners, merchants, banks and EcoCash customers. 
Speaking at the event, EcoCash chief operating office Munyaradzi Nhamo said:
<blockquote>
It’s really about convenience. To send US dollars, all that the customer needs to do is visit any Econet shop or Steward Bank branch countrywide and cash-in their US dollars into their EcoCash US dollar (FCA) wallet.
Thereafter they can immediately transfer the funds to anyone – registered on EcoCash or unregistered – and the US dollars will land in the receiver’s wallet in real-time.
The recipient can then go and cash out their US dollars, at their convenience.
Customers will be able to pay for goods and services electronically, be it in supermarkets or across any retail channels, pay their bills, or buy airtime – directly on their mobile phones.
</blockquote>
The new EcoCash US dollar service can be accessed on USSD code *153# and allows customers to transfer as little as US$1 up to as much as US$500 per day. Added Nhamo:
<blockquote>
Registered customers can also cash-in or cash-out a maximum of US$2 000 per month, while unregistered users can transact up to US$250 per day and US$1 000 per month.
</blockquote>
However, the statutory 2 per cent intermediated money transfer tax (IMTT) applies to all transactions.
Nhamo also announced US$10 000 promotional funds to be won by the first customers to use the new service. He said:
<blockquote>
To kickstart this exciting service, we have set aside US$10 000 in promotional funds to be won by our customers.
For every US$1 you cash-in and send, we will give you back US$1. We offer cashback of up to US$10 per transaction, on a first-come-first-served basis.
</blockquote>
<h4>More: <a href="https://www.sundaymail.co.zw/new-ecocash-launches-us-service">The Sunday Mail</a></h4>

EcoCash Launches USD Cash-In & Cash-Out Service

The Reserve Bank of Zimbabwe (RBZ) has raised the limit on mobile banking transactions from person to person from ZW$5 000 to ZW$10 000 per transaction and from ZW$35 000 per week to ZW$70 000 per week.
In August 2020, the RBZ ordered a limit on mobile banking transactions (EcoCash, Telecash, OneMoney) for all individuals at a maximum of ZW$5 000 per day and ZW$35 000 per week.
In his Monetary Policy Statement (MSP) issued this Monday, RBZ Governor John Mangudya announced a cocktail of measures the central bank has put in place to promote the use of the Zimbabwe dollar.
The central bank governor also announced that more forex will be availed for fuel service stations that sell fuel in Zimbabwe dollars.
Some of the measures announced by the RBZ  to promote the use of the local currency in domestic transactions include:
<blockquote>
Increasing foreign exchange availability to fuel service stations designated by the Zimbabwe Energy Regulatory Authority (ZERA) to sell fuel in local currency.
… Maintaining minimum deposit rates for savings and time deposits at 10% and 20% respectively, to preserve value for local currency deposits.
… Building foreign exchange reserves to provide the necessary backup support for the local currency to enhance its attractiveness through setting aside 5% of the foreign exchange available for the auction system.
</blockquote>
The RBZ also resolved to increase the limit on mobile banking transactions as follows: The MPS read:
<blockquote>
… person to business from ZW$20 000 to ZW$25 000 per transaction with a maximum limit of ZW$100 000 per week
… person to person from ZW$5 000 to ZW$10 000 per transaction with a limit of ZW$70 000 per week.
… increasing the cash withdrawal limit for the banking public from ZW$2000 to ZW$5000 per week.
</blockquote>
The RBZ said it appreciates the effort being made by banks to enable cashless transactions through digital and electronic banking services to their customers.
The central bank called on members of the public to bank their cash and utilise digital and electronic services, which include credit and debit cards.
It said this will minimise the risk of theft and robberies associated with carrying cash on person or possession of large sums of cash at premises.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

RBZ Raises Mobile Banking Transaction Limit To $10 000 Per Day

Below are August fees, and charges for Ecocash, Zimbabwe’s largest mobile phone-based money transfer, financing and microfinancing service.

<h2 data-fontsize="21" data-lineheight="33.8167px">Ecocash Fees</h2>
<ul>
<li>The 2% IMT tax now only applies to transactions above $500 ZWL</li>
<li>Transaction values are still capped at $5 000 ZWL</li>
<li>However, you can do up to 7 of these transactions per week</li>
<li>This means the weekly limit is $35 000 ZWL</li>
<li>Wallet to bank charges are below</li>
</ul>
<h2 data-fontsize="18" data-lineheight="25.2px">NB</h2>
<ul>
<li>Cash-in is FREE</li>
<li>Send Money Max $5 000 ZWL per transaction and $35 000 ZWL per week</li>
<li>Pay Merchant Max $5 000 ZWL per transaction</li>
<li>Transactions for less than $1 are FREE</li>
<li>Balance Inquiry $1.50 ZWL</li>
<li>Bank To Wallet is Free</li>
<li>Request Bank Balance $1.50 ZWL</li>
<li>Request Bank Statement $1.50 ZWL</li>
</ul>
<h2 data-fontsize="18" data-lineheight="25.2px">Bank To Wallet</h2>
<ul>
<li>Based on information ascertained by <a href="https://www.techzim.co.zw/2021/01/heres-how-much-your-bank-charges-you-to-do-a-bank-to-ecocash-wallet/">Techzim.</a></li>
</ul>
<h2 data-fontsize="18" data-lineheight="25.2px">Other charges and limits</h2>
<h2>Monthly And Daily Limits</h2>
More: <a href="https://www.techzim.co.zw/2021/01/heres-how-much-your-bank-charges-you-to-do-a-bank-to-ecocash-wallet/">Techzim</a>

Ecocash Calculator, Fees And Limits August

Mobile money transfer service EcoCash has for the umpteenth time warned its customers to be wary of fraudsters who illegally withdraw money from accounts without customers’ consent.
Ecocash dismissed claims that its system has been hacked and urged its customers not to give third parties their pin codes to prevent being robbed. It said in a statement on Monday:
<blockquote>Ecocash is aware of reports of fraud where unsuspecting Ecocash customers have lost money to criminals using false identities after they harvest customers’ mobile phone numbers from social media platforms such as WhatsApp.
Ecocash wishes to assure the public and our valued customers that the Ecocash system has not been hacked and remains safe and secure.
Ecocash urges customers to be vigilant against fraud by checking the identity of people they send money to and not sharing their Ecocash pin with anyone.</blockquote>
Ecocash urged customers to report suspected cases of fraud to the police or through their SMS helpline 0771222114 while customers can also visit their nearest Ecocash shops.
<h4>More: <a href="https://www.chronicle.co.zw/just-in-ecocash-fraudsters-on-the-prowl/" rel="noopener" target="_blank">Chronicle</a></h4>

EcoCash Warns Of Fraudsters, Assures Customers Its System Hasn't Been Hacked

Cassava Smartech has sent out a press release assuring customers that the EcoCash system has not been hacked. This follows reports that some users of the platform have <a href="https://www.techzim.co.zw/2021/04/us100-mil-ecocash-whatsapp-scam-doesnt-make-sense-heres-why/">lost money to scammers</a>.
Reads the release:
<blockquote>“EcoCash is aware of reports of fraud, where unsuspecting EcoCash customers have lost money to criminals using false identities after they harvest customers’ mobile phone numbers from social media platforms such as WhatsApp.
EcoCash wishes to assure the public and our valued customers that the EcoCash system has NOT been hacked and remains safe and secure.
EcoCash urges customers to be vigilant against fraud by checking the identity of people they send money to and by not sharing their EcoCash PIN with anyone.
EcoCash further urges customers to report all suspected cases of fraud to the police, to Ecocash through the EcoCash SMS helpline 0771 222 114, or to their nearest EcoCash channel partners.”</blockquote>

FULL TEXT: " We Have Not Been Hacked" - EcoCash Speaks On Scam

EcoCash Zimbabwe, <a href="https://news.pindula.co.zw/2019/05/28/econet-subsidiary-targets-150-megawatts-solar-electricity-in-5-years/">a subsidiary of Econet Wireless</a> has announced that its EcoCash$ave has been temporarily suspended with effect from the 6th of March.
EcoCash said EcoCash$ave was suspended to allow for the migration to a new platform. Below is the notice:
<blockquote>Kindly be advised that EcoCash$ave has been suspended temporarily with effect from March 6, 2021 as work begins to migrate the service to a new platform and enhance the product features. The service will be re-introduced in the coming months.
In the meantime, Customer balances in the EcoCash$ave account have been transferred to the EcoCash$ave account holders’ EcoCash wallet, to allow customers access to their funds during the transition.
Please note that only individual EcoCash$ave accounts have been suspended. EcoCash Savings Club accounts remain available.
We thank you for your support all along, and for your patience as we migrate and repackage the product. We sincerely regret the inconvenience this may cause.
For further enquiries, please dial 114 or SMS the word HELP to 0771 222 114</blockquote>
The EcoCash$ave account provided a paperless banking service via customers’ mobile phone. It also provided customers with the convenience of moving money between their EcoCash Wallet and the EcoCash$ave free of charge.

Ecocash$ave Suspended With Effect From 6 March

Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has warned members of the public against abusing mobile money platforms saying perpetrators will be brought to book.
The remarks were made by POTRAZ’s Director-General Dr Gift Machengete on the World Post Day Commemorations and launch of Gokwe Community Information Centre recently. He said:
<blockquote>Ladies and Gentlemen, let me conclude by saying that inasmuch as the diversity of technology has brought financial inclusion and convenience, I would like to warn all those unscrupulous elements who are conducting illicit activities using the various technologies available to desist from such as we will leave no stone unturned in bringing the culprits to book.
We applaud Government for the various steps taken to counter these nefarious activities, which were driving up the inflation rate in the economy and thus exposing consumers to various vulnerabilities. We will continue to work hand in glove with our colleague regulator, the RBZ to ensure that there is stability in our respective sectors.</blockquote>
His remarks come after the Reserve Bank of Zimbabwe has blocked all mobile money agents (Ecocash, OneMoney and Telecash) on allegations that they were fueling money laundering in the country.
Coincidentally, since the ban on mobile money agents, the foreign currency exchange rate has stabilised.
As Dr Machengete observed, however, a large sector of the Zimbabwean population is now financially excluded as they relied on mobile money platforms for financial transactions mainly because of their farness from financial institutions.
More: <a href="https://technomag.co.zw/potraz-warns-mobile-money-platform-abusers/" rel="noopener noreferrer" target="_blank">Technomag </a>

POTRAZ Warns Abusers Of Mobile Money Platforms

Ecocash, the largest mobile phone-based money transfer, financing and microfinancing service in Zimbabwe has reviewed up individual spending limits to ZWL$35 000.
The service provider announced the development in an SMS sent to its subscribers this Thursday. Reads the message:
<blockquote>Good News. EcoCash individual spending limit is now ZW$35,000 per week. You can use up this limit in 1 or more days. The limit per each transaction is ZW$5,000.</blockquote>
Subscribers have been complaining over the limits which they said were not in resonance with the economic developments in the country.
They cited the soaring inflation in the country as one of the factors that should have informed the review of spending limits.
The local currency has also since last year been losing value against the United States dollar making the spending limits unreasonable.

ECOCASH Reviews Weekly Spending Limits

Eddie Cross, a member of the Reserve Bank of Zimbabwe’s (RBZ) Monetary Policy Committee (MPC) has attempted to shed light on why authorities cracked down on Cassava Smartech’s EcoCash.
Cross told OpenParly that in February the central bank discovered that EcoCash, by far the country’s largest mobile money operator, was turning over three times the amount that all the commercial banks in the country, combined, were turning over.
The former MDC legislator said the main purpose of Ecocash was to handle relatively small transactions but had gone rogue and was running a Ponzi Scheme.
Cross said the RBZ had to take draconian measures and ask the company to shut all agent lines and cap daily transactions to just $5 000 per day.
The central bank accused EcoCash agents of buying foreign currency on the black market resulting in the precipitous fall in the value of the Zimbabwe dollar. Said Cross:
<blockquote>When we intervened the black market rate had gone down to 200:1. Ecocash has gotta play ball. They have gotta start behaving responsibly. They are not to use themselves for this kind of speculative Ponzi schemes. They were printing money. They were giving credit, on an unlimited basis to their agents. You can’t do that.</blockquote>
Following the crackdown on mobile money transactions and the introduction of a foreign currency auction system by the RBZ, the Zimbabwe dollar has stabilised against the United States dollar.
<h4>More: Insider</h4>

EcoCash Brought It Upon Themselves - Eddie Cross

The daily individual limit of $5 000 for mobile money transactions recently imposed by the Reserve Bank of Zimbabwe (RBZ), will not affect business operations but only about 200 people who were abusing the system by using the platforms to buy foreign currency, thus fuelling black market foreign currency exchange rates.
This was said by Eddie Cross, a member of the Monetary Policy Committee. Cross revealed that the daily limit can be revealed once the situation settles down. He said:
<blockquote>In the past 12 months, EcoCash handled 1 938 billion transactions worth $225 billion dollars — an average transaction of $116. This means that the limit of $5 000 should cover the great majority of transactions.
Once the situation settles down, this limit can be reviewed, but the authorities had to limit the capacity of the system to transact in buying foreign exchange.
This they were doing through their agents funded by cash transferred to them by their bulk payers system.
This affected only 200 or so clients and was being abused. While the measures taken will affect their agents, their clients should not be disadvantaged to any extent.</blockquote>
On Wednesday, EcoCash, the dominant mobile money platform, announced that it was implementing the daily limit of $5 000 imposed by the central bank.
<h4>More: <a href="https://www.herald.co.zw/ecocash-daily-limits-to-entrench-stability/" rel="noopener noreferrer" target="_blank">The Herald</a></h4>

Daily Individual EcoCash Limit Won't Affect Business - Eddie Cross

Finance Minister Professor Mthuli Ncube has said that the Zimbabwean Stock Exchange (ZSE) will be reopened next week.
He also observed that some big companies on the market, Old Mutual, PPC Zimbabwe and Seed Co. will be excluded from the market “for the time being”.
In a statement, Old Mutual said they were engaging authorities to ensure that Old Mutual is reinstated on the market. Read the statement emailed to ZBC News:
<blockquote>We are working with the authorities to explore ways to handle the listing of OML so that the OMIR does not continue to create the concerns raised in the recent past.
Old Mutual supports the stability and development of the economies where it operates.</blockquote>
The ZSE was suspended on June 28 together with mobile money platforms – Econet’s Ecocash, NetOne’s One Money and Telecel’s Telecash amid reports that the platforms were fuelling illegal foreign currency dealing in the country.
The parallel market was being accused of contributing to the rapid depreciation of the Zimbabwe dollar that was reintroduced last year.
More: <a href="https://www.zbcnews.co.zw/stock-market-to-reopen-next-week-without-old-mutual/" rel="noopener noreferrer" target="_blank">ZBC News</a>

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