Zimbabwe banks ready to dispense ZiG from ATMs

The Reserve Bank of Zimbabwe (RBZ) has sought to ease public concerns over the scarcity of the Zimbabwe Gold currency, commonly known as ZiG, assuring that the currency is becoming increasingly accessible across the country.

In a statement released on Friday, RBZ Governor John Mushayavanhu revealed that the use of ZiG has seen a marked improvement in the economy, with more financial institutions embracing the local currency for transactions.

According to official statistics from the central bank, local currency settlements processed through the National Payment System surged from ZiG7.86 billion (26 percent) in April 2024 to ZiG56.8 billion (43 percent) by May 30, 2025.

"The Reserve Bank has timeously disbursed sufficient cash to banking institutions in line with demand, and there has never been a shortage of ZiG currency," the statement emphasized.

As of June 12, total deposits in ZiG stood at about ZiG16 billion, with over ZiG207 million held as cash by banks. Despite some public perceptions to the contrary, RBZ officials stress that this volume is adequate to meet daily withdrawal and deposit requirements.

In a bid to improve accessibility, the RBZ disclosed ongoing collaborations with various financial institutions to widen the distribution network for ZiG notes.

"Some banks have already made ZiG cash available through automated teller machines (ATMs), and others are in the process of configuring their ATMs to dispense ZiG cash in due course," the governor said.

Mushayavanhu reaffirmed that there is sufficient ZiG currency in circulation to meet both current and anticipated demand, with authorities committed to preserving the purchasing power of ZiG "at all costs."

The announcement comes at a time when the currency has faced scrutiny over availability, with reports of limited access stirring public anxiety. The RBZ's assurance aims to restore confidence and encourage the use of ZiG as a reliable local currency option.