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Zimbabwe sets 2030 deadline for mono-currency regime

The Reserve Bank of Zimbabwe (RBZ) has announced that the country is on course to adopt a mono-currency system by 2030, with the Zimbabwe Gold (ZiG) set to become the sole legal tender for all domestic transactions.At present, Zimbabwe ope…

Published: 04 Sep 2025 at 07:28hrs | 139 | by Staff reporter

Zimbabwe hits US$44,9bn in digital transactions

Zimbabwe's financial sector has marked a major milestone in its digital transformation, processing a record 381 million electronic transactions worth ZiG1,2 trillion (US$44,9 billion) in the first half of 2025.The surge reflects the countr…

Published: 12 Aug 2025 at 08:32hrs | 217 | by Staff reporter

'ZiG outperforms regional peers'

The Reserve Bank of Zimbabwe (RBZ) has lauded the Zimbabwe Gold (ZiG) currency for its sustained stability and strong performance compared to several regional currencies within the Southern African Development Community (SADC) and beyond.I…

Published: 08 Aug 2025 at 13:02hrs | 312 | by Staff reporter

RBZ reveals strategy towards shift to mono-currency

Zimbabwe's central bank is stepping up efforts to build up foreign currency reserves in preparation for a planned transition to a mono-currency regime by 2030, Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has said.In an exclus…

Published: 25 Jul 2025 at 18:01hrs | 807 | by Staff reporter

Zimbabwe's plan to make ZiG sole currency faces sharp criticism

Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu has recently suggested making the local currency, the Zimbabwe Gold coin (ZiG), the sole legal tender in the country. Despite Mushayavanhu's claims of ZiG's growing stability, econo…

Published: 18 Jul 2025 at 08:52hrs | 1199 | by Staff reporter

ZiG ranked second worst performing currency

 In a stark contrast of fortunes, Ghana's Cedi has emerged as the world's strongest-performing currency in 2025, gaining nearly 50% against the United States dollar, while Zimbabwe's Zimbabwe Gold (ZiG) ranks as the second worst, havi…

Published: 11 Jun 2025 at 11:26hrs | 1057 | by Staff reporyter

Zimbabwe's ZiG currency risks extinction stoked by policy choices

Zimbabwe's ZiG is heading toward failure, not through rapid devaluation, but through growing irrelevance, according to Imara Asset Management, the country's oldest independent brokerage.Unlike past currency collapses, which were driven by …

Published: 16 Apr 2025 at 22:45hrs | 85 | by Staff reporter

Zimbabwe's foreign currency reserves surge by 87%

The Reserve Bank of Zimbabwe (RBZ) has reported a significant increase in its foreign currency reserves, which have surged by 87% to reach US$550 million as of January 2025. This marks a substantial growth from the US$285 million recorded …

Published: 08 Feb 2025 at 12:49hrs | 3940 | by Staff reporter

Zimbabwe central bank widens blitz on defiant business

The Reserve Bank of Zimbabwe (RBZ) has announced an expanded blitz targeting businesses across the country that are refusing to comply with government directives on the use of the multicurrency system, including acceptance of the Zimbabwea…

Published: 05 Feb 2025 at 11:42hrs | 1 | by Staff reporter

Confidence in Zimbabwe gold currency hits historic low

Confidence in the Zimbabwe Gold (ZiG) currency has dropped to an all-time low, a member of the Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee has admitted.Introduced in April this year, the ZiG was initially pegged at ZiG13.50 to…

Published: 14 Nov 2024 at 09:52hrs | 1855 | by Staff reporter

ZiG struggles persist

The woes surrounding the Zimbabwe Gold (ZWG) currency show no signs of abating, as retailers continue to implement a three-tier pricing system for products, complicating consumer transactions and undermining confidence in the local currenc…

Published: 15 Oct 2024 at 08:39hrs | 2789 | by Staff reporter

ZiG manipulators face stiff sentences

Cabinet considered the report on basic commodities prices and availability and issues constraining local industry as presented by the Honourable Vice President Gen (Rtd) Dr CGDN Chiwenga. On modalities to operationalise the ZiG currency as…

Published: 07 Aug 2024 at 11:24hrs | | by Staff reporter

Zimbabwe authorities mix charm with force to shore up ZiG

THE introduction of the world's newest currency in April inspired a reggae artist to record a song praising the ZiG, or Zimbabwe Gold.The catchy tune, titled "Zig Mari," received generous play on state television and radio. The musician, R…

Published: 27 May 2024 at 09:56hrs | 5 | by Associated Press

Zimbabweans are distraught by financial trauma

GOOD day, President Emmerson Mnangagwa.Your Excellency, as I see it, Zimbabweans are emotionally drained. They are overwhelmed by the severity of deprivation caused by the collapse of currencies. Verily, citizenry are distraught by financi…

Published: 22 May 2024 at 09:52hrs | 17 | by Cyprian Muketiwa Ndawana

Zimbabwe's new currency chaos

ZIMBABWEAN consumers were yesterday left stranded after businesses suspended trading using the Zimbabwe dollar following the introduction of a new currency on Friday.Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu on Friday unvei…

Published: 07 Apr 2024 at 10:35hrs | 6 | by Staff reporter

We need restoration of economic confidence not new currency

ActionAid Zimbabwe stands firm in its commitment to the economic well-being of Zimbabweans.We have closely monitored the recent announcement regarding the introduction of the new structured currency called Zimbabwe Gold (ZiG) with deep con…

Published: 07 Apr 2024 at 10:28hrs | 1 | by ActionAid Zimbabwe

Zimbabwe's new currency requires bold measures to succeed

JOHN Mushayavanhu, the new Reserve Bank of Zimbabwe (RBZ) governor, yesterday put his head on the block declaring that "not under my watch" will the apex stray from its core functions as he launched a structured currency seen as the last-d…

Published: 06 Apr 2024 at 08:10hrs | | by Staff reporter

Brics+ plans gold-backed currency

WORLD countries coalescing under the banner of the Brics alliance which brings together Brazil, Russia, India, China, and South Africa are preparing to strike a blow against the United States dollar's hegemony by launching a trading curren…

Published: 16 Jul 2023 at 13:53hrs | 15 | by Staff reporter

It's time for a new Zimbabwe currency

ZIMBABWE'S official month-on-month inflation  figure for May was reported at 75,4%  (CPI), by the Zimbabwe National Statistics Agency (ZimStats).The annual inflationary pressures for the same month were 175%. Since the statutory …

Published: 08 Jul 2023 at 09:57hrs | 12 | by Kevin Tutani

Zimbabwe in race to introduce digital currency

Zimbabwe is in the race to become one of the first African countries to introduce a central bank digital currency (CBDC).Nigeria became the first country in Africa to issue a CBDC, the eNaira, in 2021 while several African countries such a…

Published: 04 Mar 2023 at 10:25hrs | 6 | by Staff reporter

Zimbabwe explores central bank digital currency

The Reserve Bank of Zimbabwe (RBZ) says it is moving ahead with plans to create Zimbabwe's own Central Bank Digital Currency (CBDC) on a phased approach.RBZ Governor Dr John Mangudya said the bank's intention to explore the CBDC was pursua…

Published: 24 Aug 2022 at 06:37hrs | 10 | by Staff reporter

Zimbabwe currency speculators cornered?

THE retreat of the recent inflation spiral is expected to accelerate, and purchasing power increase in light of recent pay rises without matching price rises, as speculative market forces are being contained by tough corrective macro-econo…

Published: 15 Aug 2022 at 06:38hrs | | by Staff reporter

Zimbabwe's cash-rich govt suppliers fuel currency volatility

GOVERNMENT procurement and service providers - who include public works contractors and suppliers of goods and services - are destabilising the foreign exchange market by offloading part of their staggering monthly payments fuelling spiral…

Published: 10 Aug 2022 at 08:40hrs | 3 | by Staff reporter

New ZW$50 note well overdue?

The Reserve Bank of Zimbabwe (RBZ) recently introduced ZW$360 million worth of a new ZW$50 dollar note into the market, having taken regard of inflation and the need for convenience. The new note is worth about US60 cents using the officia…

Published: 08 Aug 2021 at 16:06hrs | | by Vince Musewe

RBZ introduces new ZW$50 note

The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that the ZW$50 banknote issued on 6 July 2021 through Statutory Instrument 196 of 2021 will be introduced into circulation on 7 July 2021.The Bank shall release ZW$360 mil…

Published: 06 Jul 2021 at 15:48hrs | 194 | by Staff Reporter

The soft peg and local economic stability

Zimbabwe introduced the Dutch inspired foreign exchange auction system on the 23th of June to replace the fixed exchange rate (hard peg) of US$1: ZW$25 that had been in existence since 26 March 2020. It was noted at that time that the auth…

Published: 08 Jan 2021 at 20:58hrs | 4 | by Victor Bhoroma

West Africa bloc currency ECO to launch in 2020

Leaders of a 15-nation West African bloc have called for greater structural reforms as they step up efforts for the introduction of a shared currency, aimed to be launched in 2020.In a statement issued late on Saturday at the end of an Eco…

Published: 01 Jul 2019 at 09:00hrs | 2 | by Staff reporter

Currency reforms restore country's sovereign dignity

The Transitional Stabilisation Programme (TSP) has laid the foundation for fiscal consolidation at the same time generating sustainable budget methods. So far, the implementation of the TSP has been aimed at recuperating an economy which h…

Published: 30 Jun 2019 at 09:03hrs | 3 | by Richard Mahomva

Here we go again

Mnangagwa has made clear that Zimbabwe will have its own currency again by the end of the year. Economist and former senior MDC MP Eddie Cross says it will be the strongest currency in the region. The Vigil respectfully disagrees.We bottom…

Published: 16 Jun 2019 at 19:04hrs | | by Zimbabwe Vigil Diary

Mnangagwa's govt re-ignites currency debate

PRESIDENT Emmerson Mnangagwa's remarks over the weekend that Zimbabwe would have a fully-fledged local currency before the end of the year, ending the multi-currency regime enacted in 2009, effectively re-ignited the emotive issue. This em…

Published: 14 Jun 2019 at 08:25hrs | 3 | by Brett Chulu

Zimbabwe is not ready for a new currency

Zimbabwe Economic Freedom Fighters ("ZIM EFF") have noted with great concern, the recent commentary by President Emmerson Mnangagwa and his Minister of Finance regarding plans to introduce a NEW Zimbabwean Currency before the end of the ye…

Published: 11 Jun 2019 at 09:25hrs | 9212 | by Innocent Ndibali

Local currency long overdue, analysts

The current uptake of about 85 percent in transactions using the local RTGS systems is a clear sign Zimbabwe is now nearing the stage where it might be convenient to introduce a new local currency.Economic analysts say conditions are now f…

Published: 05 May 2019 at 09:45hrs | | by Staff reporter

Local currency comeback most welcome

The madness seems relentless across all platforms.One school of thought is that  sooner than later, the RTGS rate to the US dollar will reach its full elasticity, beyond which it will not advance.The reasoning being that when it reach…

Published: 05 May 2019 at 09:42hrs | 1 | by Garikai Mazara

The day Mthuli Ncube was misquoted

Mthuli Ncube did not say new currency in 12 months.No, the Minister said no such thing. His interview is available on the Bloomberg website titled "Zimbabwe Plans to Introduce Currency â€˜In Next 12 Months': FM Ncube". Before playing it, h…

Published: 27 Apr 2019 at 08:16hrs | | by Dr Alfred M. Mthimkhulu

Why Mthuli Ncube's new currency is likely to be doomed

THE announcement by Finance minister Mthuli Ncube of his intention to introduce "a new, fully-fledged currency" in 12 months piqued the interest of the general public in Zimbabwe.It comes soon after the RTGS$ has just been introduced. Ther…

Published: 19 Apr 2019 at 11:08hrs | | by Martin Tarusenga

Zimbabwe needs a weak currency to stimulate production, exports

Shortly after the government was sworn in August 2018, they agreed to an economic and monetary reform programme. Since then, much of this ambitious plan has been implemented and the consequences have been a sharp deterioration in living st…

Published: 17 Apr 2019 at 07:15hrs | 3 | by Eddie Cross

Alternative currencies still legal tender in Zimbabwe

Legal think tank Veritas says the use of alternative currencies remains legal as Statutory Instruments (SIs) 32 or 33 of 2019 do not prohibit their use for pricing, recording debts, accounting and settlement of transactions.Both SIs 32 and…

Published: 26 Mar 2019 at 06:18hrs | | by Staff reporter

RTGS dollars and production

Pursuant to the introduction of the so-called RTGS dollars (not to be confused with the US dollars), the question which arises is: will production be triggered by the introduction of the so-called RTGS dollars? Are we going to see companie…

Published: 24 Feb 2019 at 10:41hrs | 1 | by Colls Ndlovu

A timeline of how Zimbabwe lost its currency

Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many desperate policies enacted over the past two decad…

Published: 14 Nov 2018 at 15:10hrs | 30 | by newZwire with The Source

Currency reform answer to Zimbabwe's economic woes

THE success of the new Government's effort to transform the country's economy, both in the immediate and future term hinges on addressing the currency reform problem. The vision of the Government is to ultimately turn Zimbabwe's economy in…

Published: 21 Sep 2018 at 06:44hrs | 2 | by Bongani Ngwenya

Gukurahundi has lost value as a political currency

Now that the 2018 plebiscite has emphatically placed my party ZAPU in its rightful political space, it is time for members to sober up to reality. Let me begin by congratulating all those who stood in these elections under the banner of ZA…

Published: 04 Aug 2018 at 09:43hrs | | by Mso Ndlovu

Warped World: Future is BitCoin, Zim opts for Billy Goat, Citizens choose memes

Zimbabwe's social media realm has been metaphorically invaded by unimpressive jokes and dull memes whose main theme is a since rebuffed proposal to adopt a primitive trading method whose currency is the good old Billy goat.Absurd right? No…

Published: 22 Apr 2017 at 19:55hrs | | by Chenai Makurumure

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