Use of Zimbabwe Gold surges

Nearly half of all transactions on Zimbabwe's National Payment System are now conducted in the Zimbabwe Gold (ZiG), reflecting growing public confidence in the country's local currency, according to a recent Reserve Bank of Zimbabwe (RBZ) survey.

The "ZiG Perception and Confidence Survey II," launched in August 2025, revealed that acceptance of the ZiG has jumped to over 90 percent, up from 40 percent recorded in June 2024. This marks a significant milestone in efforts to restore trust in the domestic currency.

The survey found that ZiG transactions-including electronic transfers, ATM withdrawals, and Point of Sale (POS) purchases-rose from 26 percent in April 2024 to 43 percent in May 2025. Overall usage of the currency has expanded by 43 percent over the past year, signalling increased adoption across the country.

RBZ Governor Dr John Mushayavanhu said the central bank is actively working to enhance the attractiveness of the ZiG by reviewing transaction fees and upgrading payment infrastructure. "Confidence-building is not an event but takes time. It is being addressed through consistent policy communication, improved liquidity management, and increased use of ZiG in Government transactions," he said.

Dr Mushayavanhu noted that the central bank's efforts are part of the Government's broader de-dollarisation roadmap, which aims to transition Zimbabwe to a mono-currency economy within the next five years. He also highlighted that the RBZ has strengthened currency stability by building reserves valued at US$900 million, comprising gold and foreign exchange holdings.

The latest survey covered all ten provinces and involved face-to-face interviews, providing a more comprehensive understanding of public attitudes towards the ZiG, compared to a previous, more limited study.

Economist Persistence Gwanyanya said the growing stability of the ZiG has reinforced its role as a reliable medium of exchange and store of value, while contributing to the restoration of monetary discipline and price stability in the country.

The survey's findings underscore that Zimbabweans are increasingly embracing the ZiG, a trend likely to support ongoing efforts to strengthen the local economy and reduce reliance on foreign currencies.