Mnangagwa presented with new ZiG100 and ZiG200 banknotes

President Emmerson Mnangagwa has been presented with the first printed copies of Zimbabwe's new ZiG100 and ZiG200 banknotes as the Reserve Bank of Zimbabwe (RBZ) moves closer to expanding the country's gold-backed currency.

Reserve Bank Governor Dr John Mushayavanhu handed over the new denominations during a ceremony on Thursday, saying the central bank had completed printing the full range of the "Big Five" ZiG banknote series.

The new notes join the ZiG10, ZiG20 and ZiG50 denominations, which are already in circulation. However, Dr Mushayavanhu said the RBZ would announce the official launch date for the ZiG100 and ZiG200 notes at a later stage.

"The 10, 20 and 50 ZiG notes are already in circulation. Regarding the release of the 100 and 200 ZiG notes, we will advise in due course," he said.

As part of the presentation, President Mnangagwa received the first serial-numbered copy of each denomination, all bearing the serial number 0001, including the yet-to-be-released ZiG100 and ZiG200 notes.

Dr Mushayavanhu said the milestone marked the completion of the country's new banknote series.

"For the year 2025, we were printing the new Big Five ZiG banknote series. We have managed to print all the denominations – the 10, the 20, the 50, the 100 and the 200 ZiG notes.

"Today we presented to His Excellency the President the first note of each denomination that was printed, in other words, serial number 0001 for the 10 ZiG, 20 ZiG, 50 ZiG, up to the 200 ZiG," he said.

The latest banknotes feature the Zimbabwe Bird emblem together with wildlife-themed imagery and enhanced security features designed to meet international currency standards.

According to the RBZ, the introduction of the higher denominations is intended to improve the usability of the ZiG in everyday transactions while supporting broader efforts to increase confidence in the local currency.

The expansion of the ZiG banknote family also aligns with Zimbabwe's commitments under the Staff-Monitored Programme (SMP) agreed with the International Monetary Fund (IMF) earlier this year. One of the programme's objectives is to strengthen the role of the domestic currency in the economy.

The central bank has maintained that the ZiG remains fully backed by a combination of foreign currency and gold reserves. As of 31 March 2026, the RBZ said the currency was supported by approximately US$1.3 billion in foreign currency reserves, an amount it says exceeds the total value of ZiG deposits held within the banking sector.

The release of the ZiG100 and ZiG200 notes also forms part of the Government's long-term strategy to reduce reliance on the United States dollar and gradually transition Zimbabwe towards greater use of its domestic currency.

Earlier this year, President Mnangagwa toured the RBZ's vaults to inspect the country's gold reserves, which the central bank said stood at 4.48 tonnes. Government has argued that the reserves provide tangible backing for the ZiG and strengthen confidence in Zimbabwe's monetary system.

Officials say the new banknotes have been designed to offer improved durability, enhanced anti-counterfeiting technology and greater convenience for businesses and consumers once they are officially released into circulation.