The most attractive bundle on offer is the US$10 for 10GB which works out to be much more affordable compared to their cheapest rtgs Private Wifi bundle priced at ZWL $4 320.

However, people have cried foul on Twitter firstly saying that the bundle stops working at a 2GB remaining balance. According to an Econet Wireless representative on Twitter, the 10GB bundle is divided into two, 8GB of it is “peak data” and the remaining 2GB is “off-peak data”. This means 8GB can be used any time of the day and 2GB of it can only be used at night.

Remember when people wondered what the catch in the whole deal was? This was the catch. Econet subscribers have asked why they were not well educated about the peak and off-peak conditions from the onset and they are wondering why there has to be rules on the usage of data they have bought with their own money.

Hi @ChasiNgodo, kindly note the Smart USD bundle 10GB comprises of 8GB peak data which is usable any time of day and 2GB off-peak data which is usable between 2300hrs and 0400hrs. ^YVN

— Econet Customer Care (@econet_support) April 29, 2022

I am left with 1.8 gig off peak bundles but from 10pm last night up to this morning the network was completely dead , please remove this off peak thing and allow me to use my data until I finish it at my times .

— Donald Sirewu (@DonaldSirewu) April 29, 2022

Another common outcry is how the bundles deplete very fast only lasting days for some. Many people express that this does not make sense because the 8GB Private Wifi bundle would last them a month. What could be going on? Is the 10GB not really 10GB? Below are some of the complaints lodged by Econet Wireless users.

I think we all need to agree that the new Econet SmartUSD bundle is a complete scam! Same phone, same apps,same browsing behavior, I would use the 8G e-learning bundle for a whole month,but with this new bundle, its just 3days? How come to you so @econetzimbabwe @tonnie_montana pic.twitter.com/97hw8pIAEI

— real_mdlongwa (@EngineerWabantu) April 28, 2022

Fuck econet USD bundles

— Twintawaz (@sabzmrparty) April 28, 2022

Guys that 10 gig Econet USD bundle rikugara here

— Tafadzwa (@TafadzwaGaxie) April 27, 2022

Advice if you haven’t tried the USD econet bundleDon’t try it, its day light robbery & its shit…

— Twintawaz (@sabzmrparty) April 28, 2022

The post Econet Wireless Smart USD Bundle Users Cry Foul appeared first on Provoker Magazine.

According to this year’s report, the “Big 5” of private wealth are South Africa, Egypt, Nigeria, Morroco, and Kenya as they hold over 50% of the continent’s wealth. The total value of private wealth held in Africa is US$2.1 trillion and is expected to rise by 38% over the next 10 years.

Andrew Amoils, Head of Research at New World Wealth, explains that private wealth refers to all an individual’s net assets (property, cash, equities, and business interests) less any liabilities. He says;

“Africa is home to some of the world’s fastest-growing markets, including Rwanda, Uganda, and Mauritius. We forecast private wealth growth of over 60% in all three countries in the next decade, driven by especially strong performance in the technology and professional services sectors.”

There are currently 136,000 high-net-worth individuals (HNWIs) with a private wealth of US$1 million or more living in Africa, along with 305 centi-millionaires worth US$100 million or more, and 21 US dollar billionaires.

Despite a tough past decade, South Africa is still home to over twice as many HNWIs as any other African country, while Egypt now has the most billionaires. Mauritius has the highest wealth per capita (average wealth per person) in Africa, at USD 34,500, followed by South Africa at USD 10,970 and Namibia at USD 9,320.

The report has shown Mauritius to be the fastest-growing wealth market in Africa, with projected growth of 80% over the next decade. This will also make it one of the fastest-growing high-income markets in the world over this period (in percentage growth terms), together with Australia, Malta, New Zealand, and Switzerland. By 2031, HNWI numbers in Mauritius are expected to reach over 8,000.

Zimbabwe is not mentioned anywhere in the report and it is understandable as the economy is currently very unstable and the majority of Zimbabweans live in poverty.

The post Africa Wealth Report 2022: South Africa, Egypt, Nigeria, Morocco, and Kenya Account For More Than 50% Of Africa’s Total Wealth appeared first on Provoker Magazine.

Many people have been bushing the war off as a lame excuse and wondering what the connection between Zimbabwe, Russia and Ukraine could be. After all the countries are thousands of kilometres away from Zimbabwe and separated by seas. That was until Tafadzwa Musarara the chairman of the Grain Millers Association of Zimbabwe disclosed an interesting fact.

The Grain Millers Association of Zimbabwe imports wheat for the country and Russia and Ukraine are on the supplier’s list. Apparently, there is a consignment of Zimbabwe’s wheat that has been stuck in the Ukrainian city of Mariupol for weeks now and Musarara has expressed that the association is considering sourcing the wheat from other countries.

Musarara said that Australia is facing floods that are affecting their agriculture and they are considering sourcing wheat from Canada. One might wonder why Zimbabwe is importing wheat in the first place. Firstly wheat is apparently not a profitable crop for farmers in Zimbabwe. According to a critical review of the wheat industry in Zimbabwe by J Mutambara, A P Zvinavashe & E Mwakiwa, the average gross margin per hectare is negative, about – $461.00 and profits are about -$623.81 per hectare.

Zimbabwe imports wheat for two main reasons; to cover the deficit arriving from local wheat production so that we meet the 400 000 tonne national requirement and to enhance the quality of bread flour. After maize, wheat is the second most important food crop grown in Zimbabwe.

The above explanation gives one a clearer understanding as to why bread has gone up the way it has in Zimbabwe. But what is the solution? Why is Zimbabwe sourcing wheat so far? Are there no closer African countries that can supply the grain? We will reserve the last two questions for another day.

A solution may be found in the insights made by Andrew Matibiri the CEO of Zimbabwe Agricultural Society, a group responsible for promoting agricultural development in the country. Matibiri said the wheat shortages currently faced in Zimbabwe can serve as an opportunity for local farmers to produce more. In his words;

“This is an opportune time for our farmers to produce more, for the government and the private sector to work together, hand in hand, to support farmers who want to go into wheat production,

And thank God! We have been having some late rainfalls, which have been helping land preparations. So, all in all, the future of wheat production in this country is good.”

Matibiri expressed confidence in local farmers being able to produce sufficient amounts of wheat and possibly even export to other countries that may also be experiencing problems sourcing the grain. This would definitely ease the pressure on many Zimbabweans whose costs of living are being challenged daily by price hikes.

The post The Connection Between Zimbabwe’s Bread Price Hikes And the Russia-Ukraine War appeared first on Provoker Magazine.

This deal means that the world’s richest person will own the world’s most influential social media platform. So what changes can we expect to see on Twitter?

Relaxing the rules to promote free speech

Musk, a free-speech “absolutist”, has criticized Twitter’s moderation and that is what first led him to buy a substantial chunk of the company in the first place. He wants Twitter’s algorithm for prioritizing tweets to be public and objects to giving too much power on the service to corporations that advertise.

Upon announcing the purchase Musk said, “free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.” He also argued in a Ted talk that comments that are offensive but legal should not be removed on the social media platform.

A huge fear with Musk’s approach is that it will give license to harassers, trolls and others who abuse the platform to target people. Twitter currently bans harassment, abuse and posts that wish physical harm to someone. Relaxing the rules exposes the platform to people looking to exploit it by spreading misinformation, or flat-out lies, about political events, government officials and matters related to public health and safety.

The ever-requested edit button

Twitter users have been for the longest time requesting an edit button. Other social media platforms like Facebook or Instagram allow people to edit their posts yet on Twitter, once one posts they cannot change it.

This tends to be frustrating because it means that if one wants to change anything they would have to delete the whole post and repost the edited version they want.

Musk has said he supports letting people change what their tweets say, a proposal that has stirred a heated debate among academics, journalists and other heavy users of the platform.

Although this might be a great idea, the adjustment could be weaponized by bad actors, who could use it to cover up abuse or harassment as if it never happened or to dupe or manipulate people. Yet Facebook and other social media platforms with the feature are functioning well and perhaps safeguards could be put in place like allowing people to see the unedited version.

Opening up the algorithm to the public

Musk believes that the software that determines what people are allowed to see should be cracked open. He supports placing Twitter’s algorithm on GitHub, a site popular with programmers for sharing computer code.

This sounds like a lot of chaos waiting to take place because Twitter processes billions of pieces of content every day and so far people view tweets according to their preferences, who they follow, where they stay and so on. Experts worry that Twitter is so dense and complex that the company’s own software engineers can be perplexed trying to understand its logic.

Get rid of advertisements

As Twitter goes private, it will no longer be under the same pressure from shareholders to grow advertising revenue. Although 90 per cent of Twitter’s revenue is made from advertising, they have not successfully managed to get many advertisers on the platform.

Musk has said it should move to a subscription model. Twitter has already taken some steps in that direction with the introduction last year of Twitter Blue, a premium service that cost $2.99 a month for additional features, like an undo button that allows for tweets to be recalled before they are sent.

Musk has said Twitter Blue should be cheaper, that if people are paying, they shouldn’t have to see advertisements and that the cryptocurrency that started as a joke, Dogecoin, should be an acceptable form of payment for a Twitter subscription.

Many people are on edge about the changes that will take place under the ownership of Elon Musk. Although he has shared some views that allow us to determine some of the changes, the practical implementation of these things will only be seen when they start to happen.

The post Elon Musk Buys Twitter For 44 Billion Dollars. What Next? appeared first on Provoker Magazine.

This development does not come as a shock to many because ZERA has revised the prices within short intervals before. As of today (25 April 2022) the ZWL prices are $264.77/litre for Diesel 50 and $252.40/litre for Blend –E10. The USD prices are $1.71 for Diesel 50 and $1.63 for Blend-E10.

These price hikes are bound to affect everything else from transport prices to food and it will weigh hard on already struggling Zimbabweans. Recently the prices of mealie meal and bread were increased and the exchange rates of the USD to Bond are ever-increasing.

Many people in Zimbabwe are paid in local currency especially civil servants who already had issues with the government earlier this year when they were negotiating salary increases citing the high cost of living in Zimbabwe.

The post ZERA Increases Fuel Prices…Again appeared first on Provoker Magazine.

The Telone Bonus Broadband Packages are quite affordable compared to the rtgs bundles they have had on offer. The prices are outlined on their flier as follows:

Starter US$10: 40GB broadband data monthly and 20GB bonus night data monthly

Mega US$25: 70GB broadband data monthly and 35GB bonus night data monthly

Giga Plus US$40: 180GB broadband data monthly and 90GB bonus night data monthly

Supreme US$60: Unlimited broadband data monthly and Unlimited bonus night data monthly

This move from Telone comes after Econet also announced their Smart USD Bundles with 10GB costing US$10. Econet however only has the 10GB bundle and other WhatsApp bundles ranging between a dollar and US$5. This places Telone at an advantage because people can choose bundle sizes according to what they can afford.

Many more internet service providers are bound to follow the lead of Econet and Telone as people are turning to the US dollar for trading because of its stability compared to the rtgs. In February, economist Gift Mugano predicted that Zimbabwe will dollarize by June due to hyperinflation and unstable exchange rates. Since then the rates have continued to go up with an increase in basic commodities like mealie meal and bread to fuel prices being reviewed constantly.

The post Telone Introduces USD Bonus Broadband Packages appeared first on Provoker Magazine.

In the statement, Simbisa Brands informs the public it is engaging with the RBZ in respect of Innbucks’ ADLA license. Simbisa expresses a desire to achieve a “speedy and amicable resolution”.

Simbisa Brands also assures its clients that their accounts with Innbucks are secure and all product purchases and withdrawals will be honoured as per regulations.

Innbucks initially came on the scene as a reward system for customers and on Facebook, Innbucks says it is “Zimbabwe’s Ultimate Loyalty And Rewards programme”. At the onset, customers would buy at Simbisa outlets like Chicken Inn, Creamy Inn, Pizza Inn and so forth and people could receive loyalty points and they had an option to receive their outstanding change on the app that they would be able to use later.

Innbucks then transitioned to money transfers at a very low cost compared to its competitors. Naturally, people flooded where there were lower charges giving Innbucks a huge advantage over its competitors. Could the low charges be because they hadn’t yet been regulated by the RBZ? Many people on social media that use the service have expressed their hope that the issue will be resolved as they feel Innbucks is more convenient than other money transfer services.

Full Simbisa Brands statement below

The post Simbisa Brands Engages With RBZ To Reverse Innbucks Ban appeared first on Provoker Magazine.

Innbucks

The RBZ has ceased Innbucks from operating as a money transfer service provider with immediate effect citing their inability to regulate the service as directed by the bank last year in November (2021). According to the statement, Simbisa Brands was supposed to “obtain necessary approvals in order to continue offering the service”.

RBZ notified the public that they can no longer make deposits with Innbucks or send money to third parties but a grace period of 30 days has been given for people to withdraw their balances in the form of cash or goods and services.

Metbank Limited

Metbank has been suspended from operating as an authorized dealer with immediate effect pending investigations. RBZ says Metbank has breached Exchange Control regulations relating to trading in foreign currency.

Metbank will not be permitted to deal in foreign currency and this includes buying and selling in foreign currency and processing international and domestic foreign currency transactions.

Rolink Finance

Rolink Finance has been suspended from operating as a Bureau De Change. A bureau de change is a business that, in competition with other similar businesses, makes its profit by buying foreign currency and then selling the same currency at a higher exchange rate. It may also charge a commission or fee on the purchase or sale.

The suspension is a result of the Exchange Control (Authorized Dealers with Limited Authority) Order. The RBZ has levied a fine of US$120,000 (or ZWL equivalent) against Rolink Finance for breaking said exchange control violations.

This is not the first time RBZ has cracked down on multiple companies for breaking regulations. Recently RBZ froze the accounts of Halsted, Enbee, Transerve and Electrosales for money laundering.

The post RBZ Cracks Down On Innbucks, Metbank Limited And Rolink Finance appeared first on Provoker Magazine.

Union54 is a set of APIs (Application Programming Interfaces) to issue USD debit cards without needing a bank or a third-party processor. Issue cards to customers, employees, stakeholders or just about anyone. From anywhere in Africa.

Union54 has 13 investors including Earl Grey Capital And Tiger Global Management and they claim to be Africa’s first card-issuing API. The startup is looking to provide a series of services, including ledger-based, acquirers/gateways, buy now, pay later, credit union, delivery companies, digital banking, credit card management, and corporate cards, to its clientele.

Mlambo and his wife and co-founder Alessandra Martini say that they’re hoping to “fill in the gaps” in these sectors, which are evident throughout Africa. The business partners have spent the last few years trying to be a challenger bank for Africa.

In an interview with CFTE (Centre for Finance, Technology and Entrepreneurship) Perseus Mlambo talks about his journey as a technology entrepreneur and how the idea for Union54 came about. He talks about the challenges faced by African countries when it comes to banking and how he feels Union54 can provide solutions for such challenges.

Mlambo also talks about how often people feel ripped off when they bank with big institutions and how they wish to have better control of their finances. He says Union54 has 150 clients (corporates) within Africa and he anticipates more growth in their client base. Watch the interview below.

The post WATCH: Zambia-Based Zimbabwean Entrepreneur Creates An African Homegrown Alternative To MasterCard/Visa appeared first on Provoker Magazine.

Standard Chartered Group CEO Bill Winters announced that the firm will be exiting several countries in Africa and the Middle East in a bit to simplify its global structure. Which is a fancy way of saying running businesses in these areas is not worth the effort required to make them run successfully.

The group said it will leave Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe. It further announced that it will be closing its retail banking units in Tanzania and Ivory Coast, to focus only on corporate banking. The move is understandable as people are choosing to keep their money rather than bank it due to economic instability.

Bill Winters said;

“We are sharpening our focus on the most significant opportunities for growth while also simplifying our business.

We remain excited by the number of opportunities we see in the AME region, as illustrated by our new markets, but remain disciplined in our assessment of where we can deliver significantly improved shareholder returns.”

Standard Chartered was set up in Zimbabwe in the year 1892 and it is the oldest financial institution in Zimbabwe. This is an opportunity for other firms in the sector to have a bigger market share.

The post Standard Chartered Calling It Quits On Zimbabwe appeared first on Provoker Magazine.