Author: Albert Nangara

Albert is an experienced business writer specializing in stock exchanges, financial markets and technology. He has a deep understanding of the dynamics of the global economy and a keen interest in analyzing investment trends, market trends, and the impact of investments on stock prices especially in the Southern African region.

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  • Zimbabwe's economic history has been turbulent with hyperinflation, currency devaluation, and a shortage of the Zimbabwean dollar.
  • To cope with these challenges, Zimbabweans embraced digital payments.
  • In H1 2023, digital payment values rose by 40%, with transaction volumes seeing a slight 4% decline.
  • Mobile money services such as EcoCash, OneMoney, Innbucks, O’mari, and Telecash are now crucial for transactions in Zimbabwe.

For years, Zimbabwe has grappled with a severe shortage of physical currency. The nation's economic turmoil commenced with hyperinflation, forcing the abandonment of its own currency in 2009. Instead, a mix of foreign currencies, primarily the US dollar, came in helping to steady the economy.

However, by 2015, the US dollar began vanishing from formal banks, resulting in a significant scarcity. Consequently, individuals and businesses started hoarding US dollars. The USD was considered a safe investment rather than a means of exchange.

Introduction of Bond Notes in Zimbabwe

To…

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In its latest bid to stabilize the long-volatile Zimbabwean dollar, the Reserve Bank has alighted on a novel solution to Zimbabwe’s currency woes by rolling out gold-backed digital tokens (GBDT) on May 12, 2023. www.theexchange.africa
  • RBZ Governor John Mangudya revealed that as of July 21st, the bank had conducted 11 issuances of GBDT.
  • The Governor noted that the bank received 590 applications to purchase tokens equivalent to 325.02Kg of gold.
  • In 2022, as the international economic environment worsened, Zimbabwe turned to gold coins were introduced to tame runaway inflation.

Zimbabwe’s struggles with hyperinflation has since been making headlines for decades. In 2009, inflation was so devastating that the country issued a new Zimbabwean dollar (ZWL), shedding twelve zeros from the earlier currency (ZWD).

By November 2022, the annual consumer price inflation for a compressed basket of goods was at 107 per cent in the country and in June, inflation rose to 175.8 per cent following devaluations of the local currency.

According to the Reserve Bank of Zimbabwe (RBZ) mid-term monetary policy statement, inflation increased to 86.5 per cent and 175.8 per cent in May and…

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Gamification in education

The COVID-19 pandemic drastically altered the global education landscape. Consequently, it pushed educators to innovate rapidly and adapt to new modes of teaching and learning. In Southern Africa, the pandemic prompted a swift shift towards blended learning. This involved a combination of in-person and online education, as schools and universities temporarily closed their physical doors. The need to ensure continuity in education while minimizing the risks of virus transmission drove this unprecedented change in the education sector. Among the various approaches adopted during this period, e-learning emerged as a powerful tool with the potential to revolutionize education in Southern Africa. As such, the region’s education sector can harness the power of gamification to shape a brighter future for its students.…

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Small grains like Rapoko are on display at an outdoor market in Bulawayo, Zimbabwe. www.theexchange.africa
  • Commodity exchanges are organized marketplaces that facilitate the trading of agricultural commodities such as grains, livestock, and even precious metals.
  • These exchanges provide a structured environment for buyers and sellers to come together and exchange commodities based on standardized contracts.
  • In Southern Africa, these exchanges have taken on a transformative role in empowering farmers and bolstering the agricultural sector.

Southern Africa's agriculture is marked by its rich diversity of crops and products. According to International Fund for Agriculture (IFAD), agriculture is the largest sector in the East and Southern Africa region, employing 65 per cent of Africa’s labour force and accounting for over 30 per cent of the region's GDP.

But it's not without its hurdles. Smallholder farmers, who constitute a substantial portion of the agricultural workforce, often grapple with unpredictable market prices. They also suffer from limited access to credit, and inadequate information on market trends.

Additionally, the…

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The report suggests that the decline in voice traffic can be attributed to the increasing popularity of Over-the-top (OTT) VoIP services such as WhatsApp, Telegram, and Facebook calls. www.theexchange.africa

The first quarter of 2023 witnessed a significant shift in communication trends in Zimbabwe. Voice traffic experienced a sharp decline while mobile internet and data traffic continued to surge. According to the quarterly bulletin released by the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ), the country’s mobile internet and data traffic witnessed a 12.3 per cent increase. It reached 37,690.4 Terabytes by the end of Q1 2023, compared to 33,576.4 in the previous quarter.…

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The official announcement took place at Standard Chartered's Headquarters in Harare, Zimbabwe, where representatives from both organizations, Sunil Kaushal of Standard Chartered and Dr. John Mushayavanhu of FBCH, gathered for a momentous signing ceremony. www.theexchange.africa

FBC Holdings Limited (FBCH) has finalized an agreement with Standard Chartered Bank to acquire its business in Zimbabwe. However, this transaction remains subject to regulatory approvals, including that of the Reserve Bank of Zimbabwe (RBZ), and marks a strategic move for both entities.

Standard Chartered Bank had previously decided to divest from several markets. These include Lebanon, Angola, Cameroon, Gambia, Sierra Leone, Zimbabwe, and Jordan. Additionally, the bank has planned to exit the Consumer Private and Business Banking (CPBB) business in Côte d’Ivoire and Tanzania. Standard Chartered Bank’s business sale in Jordan came to light earlier in March this year, aligning with the bank’s strategic realignment efforts.…

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Zimbabwe has relaxed regulations barring the importation of basic commodities to avert a shortage of goods. www.theexchange.africa
  • Zimbabwe has relaxed regulations barring importation of basic commodities to avert shortage of goods ahead of elections.
  • The move not only bolsters the domestic market but also improves Zimbabwe’s exports with SADC and China.
  • In March, South Africa emerged as Harare’s primary source of imports, contributing 37.6 percent of the total. China, Singapore, India, and Zambia followed accounting for 19.2 percent, 16.7 percent, 3.7 percent, and 3 percent respectively.

In a strategic move aiming to avert looming drought of essential goods ahead of 23 August 2023 elections, authorities in Harare have rolled out bold steps, relaxing rules that are choking the flow of Zimbabwe imports. The strategy further aims at countering escalating prices and ensuring smooth flow and access of essential goods in the country.

Minister of Finance and Economic Development, Mthuli Ncube, has announced the complete elimination of import restrictions on basic goods. The initiative will be complemented …

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Netflix has spent a cumulative $175 million (Sh23.5 billion) in film production in Africa since it gained entry in 2016, creating at least 12,000 jobs in the process. www.theexchange.africa
  • Since its entry into Africa in 2016, video streaming giant Netflix has invested a total of $175 million in the continent’s film production, creating over 12,000 jobs.
  • Africa’s film industry accounts for $5 billion of the continent’s GDP and currently employs five million people with the potential to create 20 million jobs
  • In the period, Netflix’s activities in the three countries generated $218 million towards the gross domestic product value, $44 million in tax revenues, and $200 million worth of increased household income.

Africa’s film industry has been on a growth path with local content production taking center stage, a trend that has attracted global players such as US-based video streaming giant Netflix, which has identified the potential and is investing heavily in the vibrant entertainment segment.

US-based Netflix says it has spent $175 million in film production in the continent’s leading markets of Kenya, Nigeria, and South Africa since …

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econet zimbabwe
  • Econet Wireless Zimbabwe is Zimbabwe’s largest provider of telecommunications services.
  • The financing  is aimed at redeeming the outstanding debentures in the capital of both companies.
  • EcoCash Holdings Zimbabwe is the ninth most traded stock on the Zimbabwe Stock Exchange over the past three months

Zimbabwe Stock Exchange (ZSE) listed Econet Zimbabwe and its subsidiary, EcoCash Holdings, have announced their intention to raise US$30.3 million through a renounceable rights issue. The move is aimed at redeeming the outstanding debentures in the capital of both companies.

The recent rights issue on the ZSE is similar to the 2020 offer made by retailer Edgar’s to its shareholders.

A renounceable rights issue is a type of share offering in which existing shareholders are given the opportunity to buy new shares in proportion to their existing holdings. This means that existing shareholders can choose to buy a certain number of additional shares at a …

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