The Bankers Association of Zimbabwe, which represents all banking institutions in Zimbabwe, welcomes the introduction of the new Bond coins, which were unveiled by the Reserve Bank of Zimbabwe and will come into circulation on the 18th of December 2014. The Bond coins, which have been issued on a one-to-one equivalence to the United States
Telecoms operator, Telecel Zimbabwe, is partnering with local insurance company, Zimnat Lion, to roll out a mobile insurance product that offers Telecel subscribers Funeral, Hospitaland local and international Travel Cover through their Telecel lines. The new service, called Telecare, offers an affordable and convenient package to cover most basic needs. Telecare insurance will bring safe,
The latest version of the FNB Banking App for smartphones now offers customers the ability to send money across the border from South Africa to Zimbabwe and Mozambique. Since its launch three years ago, the banking App has seen rapid uptake in users and transactions, making the introduction of the cross-border money transfer service on
Webtickets, South Africa’s market leader in integrated online ticketing solutions, has expanded its online ticketing business into Southern Africa owing to demand from clients. It recently started operating in Zimbabwe and one of its biggest ticketing sales events has included the recent 2014 Zimbabwe Tri-Series one-day international (ODI) cricket tournament, which took place from 25
Standard Chartered Zimbabwe, together with Commerzbank Aktiengesellschaft and Investec Asset Management Proprietary Limited acted as Joint Mandated Lead Arrangers in the recently concluded USD60 million, three year syndicated term loan facility for FBC Bank Limited . The facility carries a comprehensive guarantee from African Export-Import Bank, the regional development bank established to finance and support
Paynow, the Zimbabwean internet payments platform developed by Webdev has decided to give local internet payments a shot in the arm by working with developers. Together with Hypercube Hub, Paynow will be hosting a developer day at the tech hub on Saturday 16 August 2014. The day long event (9 am to 5 pm) will
Econet Wireless has predicted that Zimbabweans will stop using “paper money” by the end of next year as people adopt cards to transact. Econet, which is at the forefront of introducing plastic money in the country, has already invested in more than 5 000 point-of-sale (POS) devices in businesses throughout the country to ensure that
Econet’s Mobile Money service,EcoCash, has announced a landmark agreement with MasterCard that will significantly assist in reducing cash dependence and increase financial inclusion through the provision of electronic payments in Zimbabwe. The collaboration will result in more than three million MasterCard debit cards being issued to mobile money provider EcoCash’s customers in the next five
Telecel has introduced a debit card for Telecash subscribers, the Telecash gold card, which they can use to pay for goods and services at any of the more than 5 000 ZimSwitch points of sale across the country. It is the first mobile phone network to have issued debit cards for its mobile electronic wallet
A few days ago, Telecel’s General Manager, Angeline Vere disclosed that the company’s mobile money service that was launched 5 months ago, Telecash, now has 600,000 registered subscribers. This is an impressive number in a number of ways, but mostly in comparison to Econet’s EcoCash, which has generally been regarded a success. Consider for example
