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Steward Bank records 18% surge in US dollar deposits
Steward Bank has reported an 18% year-on-year increase in US dollar deposits, along with a boost in profitability, in a development seen as a strong vote of confidence in the bank's evolving strategy ...Published: 30 May 2025 at 12:10hrs | 90 | by Staff reporter
EcoCash Holdings rebranding
EcoCash, the popular mobile money platform operated by Econet Wireless Zimbabwe Limited, will retain its name despite recent announcements about a rebranding by its former holding company.EcoC...Published: 28 May 2025 at 11:05hrs | 464 | by Staff reporter
Zimbabwe emerges as hotspot for scalable fintech solutions
Zimbabwe is rapidly positioning itself as a fertile ground for scalable Financial Technology (fintech) innovations, with leading local financial institutions at the forefront of this transformation. B...Published: 15 May 2025 at 09:23hrs | 570 | by Staff reporter
Steward Bank to be renamed TN Cybertech Bank
A formal notice has been issued for the intended name change of one of Zimbabwe’s most prominent financial institutions. In accordance with the Companies and Other Business Entities Act [Chapter 24:...Published: 13 Apr 2025 at 15:42hrs | 4137 | by Staff reporter
Zinara unveils stricter clampdown on errant motorists
The Zimbabwe National Road Administration (ZINARA) has announced plans to enhance compliance initiatives, including licensing at tollgates, as part of its goal to license one million vehicles by the e...Published: 03 Apr 2025 at 18:46hrs | 1597 | by Staff reporter
Elderly Bulawayo couple sentenced for exploiting bank glitch
An elderly couple from Bulawayo, who took advantage of a technical glitch at Stanbic Bank Zimbabwe to embezzle over US$30,000, has been sentenced to seven years in prison.Frank Sibanda and his...Published: 27 Mar 2025 at 06:06hrs | 714 | by Staff reporter
EcoCash Holdings to rebrand
EcoCash Holdings Limited has announced plans to rebrand following a corporate restructuring that has left Steward Bank as its only remaining unit. This follows the takeover of the company by businessm...Published: 21 Feb 2025 at 11:12hrs | 661 | by Staff reporter
Changes at Steward Bank as Nyambirai makes a comeback
EcoCash Holdings has announced changes to its board following businessman Tawanda Nyambirai's recent acquisition of a controlling stake in the company.The development comes after a major restr...Published: 15 Feb 2025 at 07:59hrs | 1735 | by Staff reporter
2 former bank employees in court for US$33K fraud
Two former employees of Steward Bank have been charged with defrauding the bank of over US$33,000 by exploiting dormant client accounts. The accused, Audrey Njanike (38) and Ian Takaedza (36), alleged...Published: 06 Feb 2025 at 07:19hrs | 292 | by Staff reporter
Church secretary in court for US$21k theft
Chipo Molly Machokonera (40), the administration secretary of Apostolic Faith Mission's (AFM) Shalom Assembly in Westlea, Harare, appeared at the Harare Magistrates Court on Saturday, facing charges o...Published: 13 Jan 2025 at 07:18hrs | 628 | by Staff reporter
EcoCash Holdings posts strong profit growth in half-year results
EcoCash Holdings Zimbabwe Limited has posted impressive results for the half-year ending August 31, 2024, highlighting the resilience of its business model and the effectiveness of its strategic initi...Published: 21 Nov 2024 at 06:21hrs | 33 | by Staff reporter
Zimbabwe, United Kingdom trade up 67%
Trade between Zimbabwe and Britain surged by 67 percent to over US$800 million in 2023 compared to 2022, according to UK deputy ambassador to Zimbabwe, Dr. Joanne Abbot. Speaking at the launch...Published: 26 Jul 2024 at 06:34hrs | 139 | by Staff reporter
EcoCash to invest in banking technologies
EcoCash Holdings Zimbabwe Limited (EcoCash) plans to invest in technologies to expand its banking unit, Steward Bank, after transferring its fintech firms to Econet Wireless Zimbabwe. This move was ap...Published: 02 Jul 2024 at 11:16hrs | 11 | by Staff reporter
Card cloners in court
SIX suspected card cloners yesterday appeared in court after they were arrested while in possession of instruments used in the commission of the offence.The suspects — Fungal Samurewo (35), ...Published: 11 Mar 2024 at 19:25hrs | 12 | by Staff reporter
Harare hacker steals US$30,000
A Harare man hacked into an account belonging to Premier Tobacco Auction Floors and stole US$30 000.Nyasha Mutasa (33) appeared before magistrate Dennis Mangosi charged with contravening the C...Published: 24 Dec 2023 at 16:11hrs | 13 | by Staff reporter
EcoCash overturns loss into profit
EcoCash Holdings Zimbabwe Limited (EHZL), a FINTECH company, successfully transformed its financial performance, turning a loss into a profit of ZWL$130.19 million after tax for the half-year ending A...Published: 13 Nov 2023 at 05:47hrs | 14 | by Staff reporter
Reserve Bank of Zimbabwe bails out 3 banks
THE Reserve Bank of Zimbabwe (RBZ) has used its lender of last resort (LoLR) facility to bail out three distressed banks which had run out of liquidity following the steep depreciation of the local cu...Published: 16 Aug 2023 at 06:49hrs | 17 | by Staff reporter
CCC to reopen a local bank account
Following the closure of Citizens Coalition for Change (CCC) Steward bank account, CCC has decided to reopen another account under an independent Bank Trust.According to a highly placed source...Published: 28 May 2023 at 08:22hrs | 2 | by Staff reporter
6 suspected card cloners in court
SIX suspected card cloners yesterday appeared in court after they were arrested while in possession of instruments used in the commission of the offence.The suspects — Fungal Samurewo (35), ...Published: 23 May 2023 at 06:41hrs | 1 | by Staff reporter
Kenyan hacker syphons $20M from Zimdef bank account
A KENYAN national yesterday appeared at the Harare Magistrates Court charged with hacking the Zimbabwe Manpower Development Fund (Zimdef) systems and syphoning $20 million from its bank account....Published: 06 Jan 2023 at 16:49hrs | 34 | by Staff Reporter
SasaiRemit rewards its customers, launches consumer promotion for sending money from SA to Zimbabwe
Johannesburg, South Africa, 2 November 2022 - SasaiRemit, one of Africa's leading digital money transfer providers and a business of Cassava Technologies,...Published: 02 Nov 2022 at 15:57hrs | 10 | by Agencies
EcoCash launches Christmas promotion
Zimbabwe's largest mobile money platform, EcoCash, has launched a Christmas promotion to reward customers who transact using its United States dollar (USD) wallet.In the promotion, which start...Published: 30 Oct 2022 at 06:40hrs | 1 | by Staff reporter
EcoCash banks on disruptive innovations
EcoCash Holdings has said it will continue to disrupt and challenge the status quo in the digital services space by leveraging data analytics and artificial intelligence.Group chief executive ...Published: 10 Oct 2022 at 06:06hrs | 3 | by Staff reporter
Econet re-opens Bulawayo shop
ECONET Wireless Zimbabwe on Friday re-opened its refurbished main shop in Bulawayo, which was closed for extensive renovations in April this year.The refurbishment is part of Econet's ongoing ...Published: 03 Oct 2022 at 19:49hrs | 3 | by Staff reporter
Illegal forex dealer fined $10 million
Local company, Tererati (Pvt) Limited, involved in illegal foreign currency deals during 2020 in Harare using EcoCash agent lines, was fined $10 498 300 yesterday after admitting to making the illicit...Published: 27 Aug 2022 at 05:59hrs | 12 | by Staff reporter
Ex-defence official asked to explain wealth
THE National Prosecuting Authority continues to press those suspected of acquiring wealth through corruption and other criminal activity to explain how they have bought their houses and cars, with the...Published: 25 Aug 2022 at 06:31hrs | 1 | by Staff reporter
Nedbank chops off 23 workers
Nedbank Zimbabwe Limited has retrenched 23 workers, including 10 managers, citing a shift in its strategic focus.The workers affected by the compulsory retrenchment exercise, which took effect...Published: 11 Aug 2022 at 06:42hrs | 2 | by Staff reporter
EcoCash records modest growth in first quarter
ECOCASH Holdings Zimbabwe Limited recorded modest growth in the first quarter to May 31, 2022 supported mainly by the fintech business which remains the group's highest revenue contributor.In ...Published: 02 Aug 2022 at 06:43hrs | 1 | by Staff reporter
MDC-T ordered to pay Khupe aide's outstanding benefits
THE Labour Court has ordered the MDC-T to pay an aide of the party's former acting president, Thokozani Khupe, outstanding salaries and benefits.Kudzanai Mashumba dragged the opposition party ...Published: 21 May 2022 at 18:03hrs | 9 | by Staff reporter
Zimbabwe banks start willing buyer- wiling seller forex trade
LOCAL banks have started showing indicative rates for the willing-buyer willing-seller foreign currency trading system announced by the Reserve Bank of Zimbabwe early last week.Following a mee...Published: 10 Apr 2022 at 08:15hrs | 13 | by Staff reporter
Steward Bank confident it has turned the corner
Steward Bank, which is considered a pioneer of mobile banking on the local market, has already begun the second phase of its system upgrade that is largely expected to consolidate its success in minim...Published: 13 Mar 2022 at 08:02hrs | | by Staff reporter
Over 400 workers lose jobs to bank digitisation
AT least 321 bank workers were retrenched between 2020 and 2021 while a further 119 are set to be laid off this year as the sector embraces digital transformation, amid calls to retrain staff to take ...Published: 11 Feb 2022 at 16:46hrs | 1 | by Staff reporter
Steward Bank retrenches workers
Steward Bank, Zimbabwe's largest bank by customer base, says it is reviewing its structures and operations to adapt to technological changes in a move that will see the institution rationalise its sta...Published: 02 Feb 2022 at 05:25hrs | 6 | by Staff reporter
Zimbabweans businessman caught in $200m money-laundering scam
A ZIMBABWEAN businessman based in South Africa has been arrested on money-laundering charges involving $200 million.The suspect, Bornface Mudzingwa (36), was yesterday arraigned before Harare ...Published: 21 Jan 2022 at 05:36hrs | 9 | by Staff reporter
NPA revives criminal charges against suspended ZIFA boss Felton Kamambo
Zimbabwean authorities have revived criminal charges against the Zimbabwe Football Association president, days after his board was suspended over a poor run of results by the national team.Fel...Published: 23 Nov 2021 at 06:01hrs | 11 | by Staff reporter
Steward Bank profit up 263% to $252 million HY
STEWARD Bank Zimbabwe has shrugged the disruptive impact of the Covid-19 pandemic and inflationary pressures to report impressive half-year financial results to+ August 31, 2021.The bank, a su...Published: 23 Nov 2021 at 05:55hrs | 15 | by Staff reporter
More convenience for citizens as Steward Bank launches domestic USD remittance service
Steward Bank, the country's largest bank by account holders, has launched a US dollar domestic remittance service that is set to ease the burden for millions of Zimbabweans who need to safely and secu...Published: 25 Oct 2021 at 17:49hrs | 3 | by Agencies
EcoCash shrugs headwinds
EcoCash Holdings Zimbabwe Limited, formerly Cassava Smartech Zimbabwe Limited, reported solid operating results for the year ended February 28, 2021, despite strong economic headwinds.EcoCash ...Published: 20 Oct 2021 at 07:39hrs | 2 | by Staff reporter
EcoCash shrugs headwinds to posts solid results
EcoCash Holdings Zimbabwe Limited, formerly Cassava Smartech Zimbabwe Limited, reported solid operating results for the year ended February 28, 2021, despite strong economic headwinds in the country d...Published: 19 Oct 2021 at 06:31hrs | 4 | by Staff reporter
'Top cop forged EcoCash transactions to nail opponent'
THE Zimbabwe Anti-Corruption Commission (Zacc) investigating officer in the case involving police Commissioner Erasmus Makodza yesterday accused the top cop of forging EcoCash transactions in a "despe...Published: 14 Oct 2021 at 06:25hrs | 2 | by Staff reporter
'Forex rentals at blackmarket rates illegal'
PROPERTY owners and managers demanding rentals in foreign currency, without giving tenants an option to pay the equivalent in local currency using the auction rate, risk being arrested as the fight ag...Published: 14 Oct 2021 at 06:21hrs | | by Staff reporter
Trust gets US$5million, collapses in 3 years
THE Marange-Zimunya Community Share Ownership Trust (MZCSOT) has collapsed only three years after the Zimbabwe Consolidated Diamonds Corporation (ZCDC) injected US$5 million to prop it, a Zimbabwe Ind...Published: 08 Oct 2021 at 18:58hrs | 16 | by Staff reporter
Crack team set up for mobile money crime
A crack team of 15 experienced prosecutors has been set up to work with seasoned investigators to come up with watertight dockets and so effectively prosecute economic saboteurs abusing mobile money p...Published: 04 Oct 2021 at 05:47hrs | 6 | by Staff reporter
Illegal forex dealers move $1,5 billion in six months
EIGHT companies allegedly handled transactions valued over $1,5 billion in illegal foreign currency deals that involved transferring huge amounts of money from corporate bank accounts into mobile mone...Published: 03 Oct 2021 at 08:10hrs | 11 | by Staff reporter
Company in soup for buying US dollars on black market
A LOCALLY registered company, Dreams High Investments (Pvt) Ltd has been arraigned before the courts for violating the Exchange Control Act after it allegedly transferred more than $143 million to Eco...Published: 30 Sep 2021 at 07:23hrs | | by Staff reporter
8 firms in court over EcoCash deals
EIGHT financial institutions that were allegedly involved in foreign currency dealings in Harare through EcoCash bulk payer lines, yesterday appeared in court for violating some sections of the Exchan...Published: 28 Sep 2021 at 06:11hrs | 2 | by Staff reporter
D-day for Zifa bosses
A HARARE Court is today expected to rule on a matter where Zimbabwe Football Association (Zifa) bosses are accused of illegally transferring association funds to a private account.The quartet ...Published: 24 Sep 2021 at 09:27hrs | 6 | by Staff reporter
Cassava Smartech Zimbabwe, now trading as EcoCash Holdings Zimbabwe, in strong showing at ZITF
BULAWAYO - Diversified fintech giant Cassava Smartech Zimbabwe Limited, which is now rebranding as EcoCash Holdings Zimbabwe Limited, is exhibiting at this year's Zimbabwe International Trade Fair (ZI...Published: 21 Sep 2021 at 18:56hrs | 19 | by Agencies
Mujuru's property escapes hammer
THE High Court has confirmed the provisional order granted on February 28 last year for stay of execution of a judgment allowing Tony Sarpo to attach former Vice-President Joice Mujuru's property over...Published: 08 Sep 2021 at 06:20hrs | 2 | by Staff reporter
Cassava revenue up 70%
CASSAVA Smartech Limited's revenue for the quarter ended August 31, 2021 increased by over 70% compared to the same period the previous year driven by growth in transaction activity.In a tradi...Published: 08 Sep 2021 at 06:11hrs | 16 | by Staff reporter
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