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Cryptocurrency scammers target desperate Zimbabweans

Published

4 years ago

February 11, 2022

VicFallsLive

BY VIMBAI CHINEMBIRI

When her sister fell ill with cancer two years ago, Bertha decided to take a chance.

She invested money earmarked for her child’s school tuition in bitcoin through a company operating from central Harare.

Her hope was to clear enough profit to pay for the hospital bills and eventually the tuition.

After an initial investment turned a profit of $9,700(about US$120), Bertha invested $162,000 (US$2,000) in October 2020.

“That was the beginning of a nightmare,” she says. The company vanished without paying investors.

Bertha, who asked to be referred to by her middle name due to fears of stigma, seems to have been swindled through one of myriad fraudulent cryptocurrency schemes.

With the rise in popularity of these currencies and the underlying blockchain technology, scammers around the world are cashing in on the buzz with promises of easy and lofty profits.

Data from United States-based research firm Chainalysis shows that scammers earned US$7.7 billion worth of cryptocurrencies from investors worldwide in 2021 — an 81 percent increase compared with 2020.

In Zimbabwe, inflation has depleted savings and pensions over the past decade, and a confusing stream of new currencies eroded faith in the banking sector.

As a result, cryptocurrencies are particularly attractive in the country, despite much of the population understanding little of the associated risks.

“For Zimbabweans, cryptocurrency is a way of safeguarding their money from government interference,” says Prosper Mwedzi, a Zimbabwean financial lawyer based in the United Kingdom.

“It’s an opportunity, knowing how the system has operated before where people wake up to find bank balances converted into local currency.”

His comment refers to the 2018 Reserve Bank of Zimbabwe directive that converted the country’s U.S.-dollar bank balances into Zimbabwe dollar balances.

Before that, Zimbabwe used a pegged exchange rate of 1-1 between the US dollar and the local Zimbabwean dollar.

Cryptocurrencies are digital coins that people can use to pay for goods and services.

These coins are stored and exchanged on a blockchain, a secure network that operates without a central authority, such as a bank.

That means users can send coins to one another without the need for an intermediary.

And without a central authority storing data about its customers, blockchain users can remain anonymous.

In 2018, Zimbabwe banned financial institutions from trading in cryptocurrency, joining a handful of nations that have enacted similar restrictions.

Kumbulani Shirichena, head of communications at the Reserve Bank of Zimbabwe, says in an email that “there are concerns that crypto currencies’ growing popularity could undermine oversight of monetary policy, capital flows and illicit activity if left unchecked.”

As cryptocurrencies go mainstream, more countries are moving to regulate the market in order to wield some control over these assets without completely hindering innovation.

But regulating a highly volatile and decentralized system remains a challenge for most governments.

In Zimbabwe, experts say, prohibition has made it easier for scammers to proliferate.

“There is no way of having oversight over these assets given the ban on banks from getting involved,” says Mwedzi.

“If the banking sector were allowed to get involved, they would have to meet certain requirements, but we need tech expertise.”

With banks forbidden to offer cryptocurrency services, it’s difficult for Zimbabweans to deposit or withdraw money, says Yananai Chiwuta, head of growth at CoinMadi, an African cryptocurrency exchange.

In such an environment, scammers may not only promise inflated return rates but also facilitate payments and withdrawals.

As of November 2021, Zimbabwe Republic Police had received 892 complaints related to cryptocurrency scams, says spokesperson Paul Nyathi.

While Zimbabwe’s laws on fraud could apply to such cases, tracing the scammers in these informal investment schemes is difficult, as they operate anonymously.

“Desperation by Zimbabweans has led them to being this gullible,” says Confidence Nyirenda, a 27-year-old Zimbabwean who since 2017 has run a cryptocurrency exchange company in Harare.

“Cryptocurrency is not a get-rich-quick scheme. If it’s too good to be true, then it’s a scam.”

Nyirenda facilitates cryptocurrency transactions by receiving cash and then funding the investor’s wallet with bitcoin.

He says he processes about 150 such transactions a day.

Consumers associate the same types of risk with cryptocurrency investments as with other services, according to a 2021 report by the World Economic Forum.

But cryptocurrencies have specific challenges — such as price volatility, irreversibility of transactions and the difficulty of enforcing accountability when no third-party regulator is involved.

Despite its risks, cryptocurrency has the potential to be a lifeline for people globally, either for receiving remittances from abroad or for securing savings amid acute local currency devaluation.

More data by Chainalysis, the research firm, shows that “Central and Southern Asia, Latin America and Africa send more web traffic to peer-to-peer [crypto exchange] platforms than regions whose countries tend to have larger economies, such as Western Europe and Eastern Asia.”

During a trip to Dubai in September, Mthuli Ncube, Zimbabwe’s minister of Finance and Economic Development, used Twitter to laud the potential of blockchain technology in lowering the cost of remittances, which in 2020 represented seven percent of Zimbabwe’s gross domestic product, according to World Bank data.

But in February 2021, when the Reserve Bank of Zimbabwe introduced a policy to support innovations in the financial sector, crypto and digital currencies were listed as ineligible for innovation.

In his email, Shirichena explains that they were excluded because “crypto assets and digital currencies are novel innovations in the world of finance whose risks to the financial system are not yet fully known.”

For now, Shirichena says, the bank has adopted a “cautious approach” to “study and understand crypto assets and digital currency.”

He adds that scams and fraud “should be dealt with separately by the necessary legislation.

” The Ministry of Finance and Economic Development declined to comment, instead referring all inquiries to the Reserve Bank.

Despite the bank ban, many Zimbabweans continue to purchase cryptocurrency.

“You’ll be shocked if you see our clientele,” says Nyirenda. “We have even very old people who purchase crypto.” – Global Press Journal

Related Topics:bitcoin cryptocurrency United States Zimbabwe

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Marvin Dube: Spreading hope and gratitude through gospel music

Published

26 minutes ago

October 24, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

Born in Kadoma and raised across various towns in Zimbabwe, gospel artist Marvin Dube carries with him the deep spiritual and cultural roots of his Tonga heritage from Junamina village in Binga. Now based in the United Kingdom, Marvin is making waves in the gospel music scene, using his voice and message to uplift, heal, and inspire.

Following his previous single “Munoziva Zvose”, Marvin continues to evolve as a gospel minister and artist. His latest songs, Tinetariro and Tendai Mwari, showcase a refreshing mix of faith, gratitude, and reflection on the moral and spiritual challenges facing society today.

Below are excerpts from his interview with Nokuthaba Dlamini, Managing Editor for VicFallsLive, where Marvin opened up about his inspiration, journey, and the purpose behind his new work.

What inspired these new songs, and what message do you hope listeners take away from them?

Marvin Dube:

Both Tinetariro and Tendai Mwari were born out of reflection and prayer. Tinetariro speaks about hope — the kind that reminds us we are God’s children, even in times of moral decline and confusion. I was inspired by the challenges we are facing today, especially among the youth. Many have lost direction and respect, and social media has become a space where spiritual values are often mocked.

I wanted to use Tinetariro to remind people that there’s still hope for our generation — that God hasn’t forgotten us.

Tendai Mwari carries a message of gratitude. It encourages us to appreciate God for the little we have and to remain thankful even before we receive the big things we dream of — the car, the house, the job. Gratitude opens doors, and I want listeners to embrace that attitude of thankfulness every day.

How do these songs reflect your personal journey or growth as a gospel artist?

Marvin Dube:

These songs mark a point of maturity in my journey. I’ve grown to understand that gospel music is more than melody — it’s ministry. I now write with more purpose, aiming to address real issues affecting believers and society. Tinetariro and Tendai Mwari reflect my growth in both faith and artistry, showing that gospel music can heal, correct, and inspire all at once.

Can you tell us about the creative process, from writing to production, and who you worked with on this project?

Marvin Dube:

My creative process is very spiritual and organic. I draw a lot of inspiration from preaching. Often, a melody will start as a small tune in my mind — it keeps ringing until I can’t ignore it. Usually, the chorus comes first. I then take time to pray for inspiration to write the verses so that the message aligns with what God wants to say through the song.

After that, I play the song on my guitar, record a rough version, and share it with the producer or the band I’ll be working with. For this project, I worked with Hertz Records, who have produced all my music to date. They truly understand my sound and help me bring my ideas to life.

I also want to give a special shout-out to my wife, Leonora, and my two little kids. They’ve been my biggest supporters and motivation throughout this journey. Their love and encouragement mean everything to me.

How do you see gospel music evolving in Zimbabwe and Africa, and where do you see your work fitting into that movement?

Marvin Dube:

Gospel music in Zimbabwe and across Africa is evolving in powerful ways. Artists are finding new ways to reach wider audiences by blending traditional gospel messages with contemporary sounds. It’s exciting to see how the gospel is being shared in modern, relatable ways — especially among young people.

I see my work fitting right into that movement. My goal is to be a bridge between generations — to deliver timeless spiritual truths with a fresh, modern sound that speaks to today’s world while staying true to the Word of God.

What has been the most powerful reaction or testimony you’ve received from people who have listened to your music?

Marvin Dube:

One of the most powerful testimonies I’ve received came from a young listener who said Tinetariro gave them hope again after going through a very dark season. They told me the song reminded them that God still has a plan for their life. Hearing that touched me deeply. It’s moments like those that remind me this is more than music — it’s ministry, and I’m humbled that God is using my songs to touch lives.

Closing Note

Marvin Dube:

I’m truly grateful for the love and support I’ve received for Tinetariro and Tendai Mwari. If you haven’t listened yet, both songs are available on all streaming platforms and on my YouTube channel, Marvin Dube. The year 2026 will be even more exciting, with several projects already in motion that I believe will uplift and bless many lives.

National

Zimbabwe moves to establish tough drug control agency amid rising substance abuse crisis

Published

2 days ago

October 22, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

As Zimbabwe battles a surge in drug and substance abuse, the government has tabled a new Bill in Parliament seeking to establish a powerful agency to coordinate enforcement, rehabilitation, and prevention programmes across the country.

The National Drug and Substance Abuse Control and Enforcement Agency Bill (H.B. 12, 2025) proposes the creation of a dedicated agency mandated to combat the supply and demand of illicit drugs, provide rehabilitation services, and strengthen coordination between law enforcement and social service institutions.

According to the explanatory memorandum of the Bill, the agency will operate under two main divisions — a Social Services Intervention Division to focus on prevention, treatment and community rehabilitation, and an Enforcement Division to target supply chains, trafficking networks, and related financial crimes.

The legislation describes drug abuse as “a grave internal national security threat” and “a public health crisis” that fuels organised crime, corruption and violence. It notes that drug profits have enabled criminal cartels to “purchase the instrumentalities of crime, including weapons,” and to corrupt both civilian and non-civilian public officials.

Under the new framework, the agency will have powers to:

Investigate and arrest individuals involved in drug trafficking and production;
Work jointly with the Zimbabwe Republic Police, Zimbabwe Revenue Authority, and Medicines Control Authority of Zimbabwe;
Establish checkpoints at ports of entry and exit to intercept harmful substances; and
Expand the legal definition of “harmful drugs” to include emerging synthetic substances, in consultation with the Medicines Control Authority of Zimbabwe.

The Social Services Division will lead prevention campaigns, develop demand-reduction programmes, and facilitate the creation of rehabilitation and detoxification centres nationwide. It will also introduce a monitoring system requiring schools, employers, and local authorities to adopt anti-drug awareness and intervention programmes within 90 days of the Act’s commencement.

Each province and district will host offices of the agency to decentralise services and ensure community-level engagement, while traditional leaders will help devise local prevention strategies.

The Bill further empowers the agency to employ prosecutors from the National Prosecuting Authority to handle drug-related cases, signalling a shift toward specialised prosecution of narcotics offences. It also introduces a new, stricter “standard scale of fines” and penalties for drug crimes — higher than those prescribed under existing criminal laws.

In a major development, the proposed law integrates the agency into Zimbabwe’s Money Laundering and Proceeds of Crime Act, allowing it to pursue unexplained wealth orders and seize assets linked to drug cartels.

The Bill stresses rehabilitation and social reintegration as key pillars. It obliges the agency to support affected individuals through psychosocial counselling, vocational training, and community wellness programmes aimed at helping addicts rebuild their lives.

If passed, the National Drug and Substance Abuse Control and Enforcement Agency will replace fragmented anti-drug efforts currently scattered across ministries and law enforcement agencies, creating a central authority to drive national strategy and coordination.

Parliament is expected to debate the Bill in the coming weeks amid growing concern over youth addiction to crystal meth, cough syrups, and other illicit substances that have taken root in both urban and rural communities.

National

Hwange unit 8 breaks down, deepening Zimbabwe’s power supply challenges

Published

3 days ago

October 21, 2025

VicFallsLive

BY WANDILE TSHUMA

ZESA Holdings has announced that Hwange Unit 8 has been taken off the national grid following a technical fault, a development expected to worsen Zimbabwe’s persistent electricity shortages.

In a statement released on Monday, the power utility said the unit would be out of service for ten days while restoration work is carried out.

“Hwange Unit 8 has been taken off the grid due to a technical fault. The unit will be out of service for 10 days while restoration work is carried out,” ZESA said.

The company said Hwange Unit 7 remains operational, generating 335 megawatts (MW) to support system stability, while power generation at Kariba South Power Station has been ramped up with “careful management of water allocations” to compensate for the temporary shortfall.

ZESA apologized for the inconvenience and appealed for public understanding as engineers work to restore the unit.

Zimbabwe has faced recurring electricity supply challenges over the past two decades, driven by ageing infrastructure, limited generation capacity, and low water levels at Kariba Dam. While the commissioning of Hwange Units 7 and 8 in 2023 brought some relief, frequent breakdowns have continued to disrupt supply, forcing industries and households to endure prolonged load-shedding.

The latest fault at Hwange comes at a time when power demand is surging across the country, particularly during the hot season when air conditioning and irrigation systems increase pressure on the grid.

Energy experts say the outage highlights the need for greater investment in maintenance, renewable energy, and grid modernization to stabilize Zimbabwe’s power supply in the long term.