By Ziyah News Reporter
The Reserve Bank of Zimbabwe (RBZ) is set to introduce new high-quality Zimbabwe Gold (ZiG) bank notes before the third quarter of this year, aiming to enhance the availability and durability of cash in circulation.
This announcement was made by Central Bank Governor John Mushayavanhu during the presentation of the 2025 Monetary Policy Statement on Thursday.
The new notes will feature improved quality and a modern design that meets international standards.
“The Reserve Bank is also working on enhancing the quality and design of ZiG bank notes in line with international standards. The rollout of the improved high quality ZiG notes will be communicated in due course,” the monetary policy statement noted.
Mushayavanhu emphasized the RBZ’s plan for an extensive educational campaign to ensure that the new ZiG notes are accessible in remote areas, as part of a broader strategy to promote financial inclusion across Zimbabwe.
“Cognisant of the need to ensure the optimal distribution of ZiG notes in the economy, particularly for ease of access in the remote areas and to further entrench financial inclusion, the Reserve Bank is embarking on an intensive and extensive educational campaign programme and other initiatives, working with key stakeholders in the communities,” he stated.
The introduction of the ZiG in April last year was intended to stabilize the currency amid Zimbabwe’s ongoing economic crisis.
However, in September, authorities notably reduced the value of this new gold-backed currency by over 40 percent.
This initiative is part of a series of efforts by Zimbabwean authorities to establish a new currency since the collapse of the Zimbabwe dollar during a period of hyperinflation in 2009.
Enhancing the quality of the notes will help the transacting public as the current notes in circulation get easily torn and have already lost the much value. However, it remains to be seen if the central bank will be able to maintain the discipline needed to back the new notes in the market and retain their value.