Zimbabwe currency gaining public confidence, RBZ

The Reserve Bank of Zimbabwe (RBZ) says confidence in the Zimbabwe Gold (ZiG) currency continues to grow as the economy records significant gains in price stability and exchange rate performance, with the local unit increasingly being used as both a medium of exchange and store of value.

Speaking at the Zanu-PF Matabeleland North provincial inter-district meeting in Lupane, RBZ Bulawayo regional office general manager Mr Kasanda Sibanda said the economy has made notable progress since the introduction of ZiG in April 2024.

He said the structured currency had helped restore monetary stability and rebuild public confidence in the financial system.

"Following the call in late 2023 by His Excellency the President of the Republic of Zimbabwe for the Reserve Bank to come up with a structured currency, the RBZ governor, Dr John Mushayavanhu, launched Zimbabwe Gold (ZiG)," he said.

Mr Sibanda said ZiG is backed by reserves including foreign currency and minerals such as gold, platinum, diamonds, lithium and nickel, supported through royalty inflows.

He said the economy has since recorded a steady disinflation trend, with annual ZiG inflation falling sharply from a peak of 95.8 percent in July 2025 to single-digit levels in early 2026.

"Notably, the economy witnessed a progressive disinflation trend as evidenced by the significant decline in annual ZiG inflation from peak levels of 95.8 percent in July 2025 to low single-digit levels of 4.15 percent in January 2026, 3.8 percent in February 2026, before a slight uptick to 4.36 percent in March 2026 and 4.84 percent in April 2026," he said.

Mr Sibanda attributed the improvements to tighter monetary policy and stronger foreign currency inflows.

He said Zimbabwe recorded US$16.2 billion in foreign currency inflows in 2025, driven largely by exports of gold, tobacco and platinum group metals, supported by favourable international prices and increased production.

He added that the country's current account balance improved significantly, moving from a surplus of about US$500 million in 2024 to US$2.1 billion in 2025.

"The foreign exchange market has been supported by strong foreign currency inflows, which reached US$16.2 billion in 2025," he said.

Mr Sibanda also said the RBZ was actively promoting wider adoption of ZiG through public awareness campaigns and policy engagement, including efforts to encourage payment of taxes in the local currency.

"The Reserve Bank continues to promote the increased usage of ZiG in the economy through outreach and awareness campaigns," he said.

He added that consistency and predictability in monetary policy were improving trust in the central bank and the local currency.

Mr Sibanda further highlighted the introduction of redesigned ZiG banknotes, known as the "Big Five" series, which he said reflect Zimbabwe's cultural heritage, wildlife and national identity.

He said a nationwide ZiG awareness campaign conducted between March 1 and 31 reached more than 1.5 million people across all 10 provinces.

In Matabeleland North alone, officials engaged over 69,000 people and distributed more than 22,000 educational materials including posters, brochures, calendars and T-shirts.

The RBZ said feedback from these outreach programmes will inform future monetary policy direction as authorities continue efforts to entrench confidence in the local currency.