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Stanbic Bank extends digital international payments offering
Harare, 21 May 2025 - Leading financial services institution, Stanbic Bank, has digitized its international payments facility for all its clients in line with its commitment to provide seamless, acces...Published: 21 May 2025 at 19:56hrs | 706 | by Agencies
Smuggling takes toll on Zimbabwe economy
A sharp increase in smuggling and unregulated imports is intensifying illicit financial flows (IFFs) in Zimbabwe, severely undermining the country's formal retail sector. Authorities have recently pro...Published: 16 May 2025 at 10:41hrs | 405 | by `
Zimbabwe govt rolls out POS machines to formalise informal businesses
The Zimbabwean government has commenced a nationwide programme to integrate unregistered businesses into the formal economy by distributing point-of-sale (POS) machines, which are now a prerequisite f...Published: 09 Mar 2025 at 13:08hrs | 226 | by Staff reporter
Zimbabwe vendors required to use POS machines
The Government has introduced a directive requiring all vendors to use Point of Sale (POS) machines and open bank accounts as part of their registration process. This initiative, implemented in collab...Published: 13 Feb 2025 at 06:30hrs | 753 | by Staff reporter
Mnangagwa's Cabinet resolves to corner vendors
As Zimbabwe's economy continues to spiral downward, the government has introduced a series of controversial measures aimed at taxing the struggling informal sector and vendors to boost state revenue. ...Published: 12 Feb 2025 at 11:21hrs | 1253 | by Staff reporter
Zimbabwe raises savings rates, cuts POS charges
The Reserve Bank of Zimbabwe (RBZ) has introduced a series of bold monetary policy measures aimed at promoting the use of the Zimbabwe Gold (ZiG) currency and enhancing economic stability. These measu...Published: 07 Feb 2025 at 06:35hrs | 410 | by Staff reporter
Swipe machines now mandatory in Zimbabwe
The Consumer Protection Commission has launched an enforcement blitz against businesses refusing to accept Point-of-Sale (POS) machine transactions, making it mandatory for all businesses to comply wi...Published: 21 Oct 2024 at 07:41hrs | 3253 | by Staff reporter
Zimra goes after businesses rejecting ZiG
The Zimbabwe Revenue Authority (ZIMRA) has launched a sweeping operation targeting businesses that are evading taxes and undermining the Zimbabwean currency (ZiG or ZWG) by rejecting the local currenc...Published: 27 Sep 2024 at 12:29hrs | 1398 | by Staff reporter
Zimra launches crackdown on economic saboteurs
The Zimbabwe Revenue Authority (ZIMRA) has launched a nationwide blitz targeting businesses that evade taxes and undermine the local currency, the Zimbabwe Gold (ZiG), by either rejecting it or falsel...Published: 27 Sep 2024 at 08:16hrs | 146 | by Staff reporter
Zimbabwe shops continue to reject ZiG
The surge in black-market exchange rates, which peaked at US$1:25 ZiG, has led some businesses in Bulawayo to reject transactions in Zimbabwe Gold (ZiG), defying government directives. This defiance u...Published: 30 Jul 2024 at 07:39hrs | 1852 | by Staff reporter
Flimsy tactics to resist use of ZiG exposed
Some shops in Bulawayo are defying government regulations by exclusively trading in US dollars and South African rand, ignoring the Zimbabwe Gold (ZiG) currency, despite legal obligations under Statut...Published: 02 Jul 2024 at 06:29hrs | 1 | by Staff reporter
CBZ opens Johannesburg office
CBZ Bank Limited, a wholly-owned subsidiary of the diversified and listed financial services group CBZ Holdings (CBZH), has opened a new office in Sandton, Johannesburg, South Africa.CBZH prov...Published: 12 Feb 2024 at 13:53hrs | 24 | by Staff reporter
Zimdollar not going anywhere
THE Treasury has assured the market of continued usage of the local currency and that deliberate steps are being taken to strengthen its value so as to restore consumer purchasing power and buttress t...Published: 29 May 2023 at 06:32hrs | 2 | by Staff reporter
Mthuli Ncube confronts Osiphatheleni
THERE was drama around Tredgold Building, which houses the Bulawayo Magistrate Courts yesterday, as illegal money changers ran away at the sight of the Minister of Finance and Economic Development, Pr...Published: 28 May 2023 at 08:03hrs | 4 | by Staff reporter
Zimbabwe police raid illegal forex dealers, retrieve 11 POS machines
POLICE in Bulawayo have raided illegal foreign currency dealers and arrested six suspects linked to the abuse of Point of Sale (POS) machines to carry out illicit transactions.Bulawayo provinc...Published: 23 May 2023 at 21:16hrs | 15 | by Staff reporter
Money changers hijack POS machines for big transactions
DECKED out in trendy designer wear, clutching energy drink cans and munching take-aways while engaging in high-pitched conversations, illegal money changers, popularly known as osiphatheleni who have ...Published: 22 May 2023 at 06:35hrs | 3 | by Staff reporter
Technical glitch forces parking fees into manager's EcoCash
TENDY Three Investments, which is running a parking system in Bulawayo, was forced to channel money that was being collected by marshals into the personal mobile account of its managing director, Mr B...Published: 07 Aug 2022 at 08:26hrs | 3 | by Staff reporter
Stanbic Bank to step up COVID-19 mitigation measures through digitisation
Leading financial services institution, Stanbic Bank, is banking on its top-notch innovative mobile and internet platforms to ensure its clients are well served throughout the 30-day lockdown....Published: 08 Jan 2021 at 11:33hrs | 13 | by Staff reporter
Stanbic shuts two more branches
STANBIC Bank Zimbabwe says it is closing branches in Hwange and Westgate, Harare, in line with its digitisation strategy.Early this year Stanbic discontinued operations at the Chitungwiza and ...Published: 04 Dec 2020 at 06:37hrs | 8 | by Staff reporter
Stanbic continues with digital banking agenda
HARARE - 30 NOVEMBER 2020 Stanbic Bank continues to implement its digitization strategy as it seeks to remain in sync with the futuristic need for technological advancement as well as the dictates of ...Published: 30 Nov 2020 at 10:44hrs | 10 | by Agencies
Residents threaten rates payment boycott
GWERU residents have threatened to boycott payment of rates citing numerous cases of revenue leakages, which have affected service delivery.A recent council internal audit revealed that severa...Published: 29 Nov 2020 at 06:55hrs | 1 | by Staff reporte
Stanbic launches contactless debit cards and POS machines
Leading financial services institution, Stanbic Bank is set to launch contactless debit cards and POS machines as the institution pushes ahead with its highly innovative technology advancement approac...Published: 09 Sep 2020 at 10:13hrs | 3 | by Staff reporter
NetOne awarded Bureau De Change license
Telecommunications giant NetOne has been awarded a license by the Reserve bank of Zimbabwe to operate as a Bureau De Change.Bureau de change is the fastest growing sector in the African financ...Published: 04 Sep 2019 at 10:07hrs | | by Agencies
Banks move to arrest card cloning incidents
AN increase in cases of bank card cloning fraud has resulted in some banks suspending balance inquiry on all merchant point of sale (POS) devices. Card-cloning is the production of counterfeit...Published: 23 Apr 2019 at 07:04hrs | 1 | by Staff reporter
Audit exposes HCC swindle
THE Harare City Council (HCC) could have been swindled of thousands of dollars after a forensic audit revealed that some of its point-of-sale (POS) machines were not linked to its bank accounts....Published: 26 Mar 2019 at 14:07hrs | 2 | by Staff reporter
Massive fraud hits City of Harare
AN audit has unearthed massive fraud at City of Harare where unregistered point of sale (POS) machines are being used to carry out billing transactions outside the municipality's official financial sy...Published: 08 Mar 2019 at 13:12hrs | 3 | by Staff reporter
Mphokos free
FORMER Vice-President Phelekezela Mphoko's son, Siqokoqela and his wife Nomagugu, were yesterday freed following the withdrawal of their fraud and extortion charges by the State. The Mphokos w...Published: 05 Mar 2019 at 22:52hrs | 10 | by Staff reporter
Widow loses $40 000 in card cloning scam
A Bulawayo widow lost more than $40 000 after a Harare man allegedly cloned her late husband's bank card and went on to conduct illegal point of sale (POS) transactions at various retail outlets. ...Published: 28 Feb 2019 at 06:15hrs | 5 | by Staff reporter
Choppies drop charges against Mphokos
CHOPPIES chief executive officer Mr Ramachandran Ottapathu has withdrawn fraud and extortion charges levelled against former Vice-President Phelekezela Mphoko's son, Siqokoqela and his wife Nomagugu. ...Published: 30 Jan 2019 at 23:02hrs | | by Staff reporter
Electronic transactions usage in remote areas surges
THE use of mobile and Internet-based transactions in remote areas has been on an upward trajectory with the generality of the country's populace embracing modern modes of payment.A snap survey...Published: 30 Dec 2018 at 10:13hrs | 2 | by Staff reporter
Mphokos' 'looting' trial starts
THE trial of ex-Vice President Phelekezela Mphoko's daughter-in-law, Nomagugu (36) who is accused of "looting" cash and goods from Choppies outlets without board approval starts today. Her husband, Si...Published: 19 Oct 2018 at 06:37hrs | 1 | by Staff reporter
Mphokos trial dates set
THE trial dates have been set for former Vice President Phelekezela Mphoko's son, Siqokoqela and his wife, Nomagugu who are facing charges of hijacking Choppies retail business and "looting" more than...Published: 15 Oct 2018 at 06:23hrs | 2 | by Staff reporter
Mphoko's son arrested
FORMER Vice President Phelekezela Mphoko's son, Siqokoqela, has been arrested for allegedly hijacking the Choppies retail business and "looting" more than $50 000 worth of cash and goods from the outl...Published: 01 Sep 2018 at 08:56hrs | | by Staff reporter
'Inflated' Ecocash fares rile commuters
COMMUTERS in Bulawayo have expressed frustration over inflated EcoCash fares charged by kombi and taxi operators despite adoption of mobile transport payments.Commuters who spoke to Business C...Published: 03 Aug 2018 at 07:12hrs | 4 | by Staff reporter
WATCH: CCTV sells out POS machine suspected thieves
FOUR suspected thieves who were last week captured on camera stealing a Point of Sale (POS) machine at a Zuva Petroleum pump station appeared at the Harare Magistrates' Court yesterday facing theft ch...Published: 19 Jun 2018 at 07:12hrs | 3 | by Staff reporter
Bankc card cloning on the increase, police warn public
Police have warned members of the public to be wary of a syndicate of criminals that has been swindling people through card cloning, with over 150 cases having been reported countrywide since January....Published: 18 Jun 2018 at 07:06hrs | | by Staff reporter
Zimbabwe targets $65bn GDP by 2028
Zimbabwe is targeting to reach Gross Domestic Product (GDP) of US$65 billion by 2028 on the back of wholesale improvements in investment.Foreign investor interest in Zimbabwe has also grown ma...Published: 17 Jun 2018 at 10:41hrs | | by Staff reporter
Embrace use of plastic money
The country of Norway, operates on a 100% cashless economy, yes its true. After all, cash itself can not be 'eaten', one has to hand it over in exchange for goods and services. In light of the...Published: 02 Mar 2018 at 07:07hrs | | by Thomas Murisa
Bulawayo kombis adopt swipe payment
BULAWAYO public transport operators have resolved to introduce swiping for commuter fares that range from 50 cents to a dollar in a bid to ease the strain of cash shortages.The service is a br...Published: 27 Feb 2018 at 05:54hrs | 3 | by Staff reporter
Swiping machines for kombis
BULAWAYO residents will soon swipe for their commuter omnibus fares as transport associations are finalising a deal with a local bank - Steward Bank - that will see the financial institution providing...Published: 25 Feb 2018 at 10:46hrs | 1 | by Staff reporter
Arrest Chihuri and wife
The retired Commissioner General of Police, Cde Dr Augustine Chihuri must face imminent justice for the crimes he committed whilst in office which tarnished the image of the organisation resulting in ...Published: 22 Dec 2017 at 13:41hrs | 3 | by The Duly Attested
NetOne pledges lower charges
NetOne has pledged to offer cheaper mobile money transfers as competition in the sector grows.Speaking at the launch of the NetOne mobile money service, OneMoney in Harare last week, the mobil...Published: 29 Oct 2017 at 07:19hrs | 1 | by Staff reporter
Vendor removals good, says SMEs Minister
SMALL to Medium Enterprises and Co-operative Development Minister Sithembiso Nyoni says President Mugabe's directive to move vendors to designated areas is progressive and will assist in formalisation...Published: 13 Oct 2017 at 10:22hrs | | by Staff Reporter
Lack of POS machines cripples rural businesses
RURAL communities are unable to use plastic money due to poor telecommunications network connectivity.Given the continuing cash shortages in the economy, transacting is a nightmare for consume...Published: 28 Sep 2017 at 06:55hrs | 3 | by Staff reporter
POS machines for schools
Government is making frantic efforts to ensure schools have Point of Sale machines to enable parents pay fees without challenges, Primary and Secondary Education Minister Dr Lazarus Dokora has said. ...Published: 17 Aug 2017 at 06:44hrs | | by Staff reporter
Govt moves to scrap POS tax
Government is moving to scrap off a five percent tax presently being levied on Point of sale and electronic transactions, as efforts to promote the use of cash-lite payments are intensified, said Acti...Published: 18 Jul 2017 at 08:10hrs | | by Staff reporter
Zimbabwe is a broken society, says Moyo
Former Confederation of Zimbabwe Industries (CZI) president Busisa Moyo has said Zimbabwe is now a broken society due to lack of unity and dialogue.He accused authorities of introducing polici...Published: 01 Jul 2017 at 12:48hrs | 2 | by Staff reporter
ZRP avails 107 POS machines for roadblocks
The Zimbabwe Republic Police (ZRP) will soon dispatch 107 point-of-sale (POS) machines on selected roadblocks across the country in a move that is aimed at eliminating the need for cash at roadblocks ...Published: 15 Jun 2017 at 14:25hrs | 1 | by Staff reporter
$3 to watch Warriors
In a bid to attract a full house for Sunday's 2019 Africa Cup of Nations (Afcon) qualifier between the Warriors and Liberia, Zifa have pegged the cheapest ticket at $3.Normally, international ...Published: 09 Jun 2017 at 12:53hrs | 1 | by Staff reporter
POS machines for Highlanders,Dynamos game
Thousands of Highlanders, Dynamos fans and neutrals will be able to use point of sale machines at Barbourfields Stadium tomorrow.The POS machines will be deployed at four tur...Published: 13 May 2017 at 08:17hrs | | by Staff Reporter
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