[Sam Hungwe] Econet Wireless, Zimbabwe's largest mobile phone network, says it is moved by public calls for affordable services and was beginning to take measures to lower tariffs.
[Sam Hungwe] Zimbabwe's central bank has ordered banks to start importing foreign currency from their nostro accounts as banks began grappling with increasing demand for foreign cash, bankers said. A nostro account is a bank account established in a foreign country for the purpose of holding that country's currency.
[Sam Hungwe] John Moxon, chairman of Kingdom Meikles Africa (KMAL), has fallen out irretrievably with Nigel Chanakira, the group CEO whose banking group, Kingdom Financial Holdings (KFHL) merged with Meikles Africa to create KMAL, triggering the specification of Moxon and family members by Robert Mugabe's government.
[Sam Hungwe] Local newspapers have been flooded with letters from agitated telecommunication users complaining over unfair charges by the country's three mobile networks. The Zimbabwe government has now cut punitive tax on mobile airtime, admitting this had affected “talk time” by mobile phone users.
[Sam Hungwe] One of the country's biggest advertising agencies, Imago Young & Rubicam (IY&R), has fallen in trouble after failing to pay for President Robert Mugabe's re-election campaign advertisements.
[Sam Hungwe] Zimbabwe's cable telecommunication firm, PowerTel, has rolled out a 3G network after the country's telecommunications regulator granted 3G licences to all telecommunications players in December.