Zimbabwe

Reserve Bank of Zimbabwe Yoti Rasai Ma ZiG Notes Haachashande

By Staff Reporter
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1491
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February 07, 2025

Story by Stanley James, Business Editor

The Reserve Bank of Zimbabwe (RBZ) has embarked on a project to introduce new world class standard ZiG notes by the 3rd quarter of this year.

RBZ governor, Dr John Mushayavanhu told bank executives during the 2025 monetary policy presentation that the move is in response to concerns from the public about the durability of the ZiG.

“The need to come up with a durable currency is of greater importance. Therefore, we have devised a strategy to ensure that the current ZiG notes are replaced by world class notes and such an initiative will also go a long way in addressing the needs of the nation at a time when the public has been sending an outcry that the current notes get easily torn and cannot be durable,” he said.

The RBZ chief highlighted the importance of the corporate world to present their audited financial results such as cash flow, income and finance statements using the ZiG.

“All corporates in any part of the economy embrace their local currency when compiling their financials. So it is imperative for the corporate world to embrace the local currency which is therefore vital in terms of forward planning and providing a clear picture of the overall roadmap for the nation and boosting confidence in the local currency,” said Dr Mushayavanhu.

The central bank has reaffirmed commitment to stability and overall growth by focusing on measures to boost foreign currency inflows, reward bank depositors, increase savings and preserve the value of the local currency.

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