By Chantelle Muzanenhamo
The Reserve Bank of Zimbabwe (RBZ) has unveiled redesigned and higher denomination ZiG banknotes, in a move authorities say reflects growing confidence in the country’s gold-backed currency.
RBZ Governor John Mushayavanhu on Friday introduced a new family of ZiG10, ZiG20 and ZiG50 notes, which are set to enter circulation on April 7. ZiG100 and ZiG200 denominations will follow later.
Although the central bank had previously set 2030 as a target for phasing out the multi-currency regime, the governor said the shift would no longer be tied to a fixed timeline.
“The transition to the exclusive use of ZiG for settling all domestic transactions will be a gradual process anchored on macroeconomic stability,” he said.
“As such, the transition is not date-based but is dependent on the achievement of the conditions precedent,” he said.
According to Mushayavanhu, monthly ZiG inflation stood at 3.8 percent this month a figure he cited as evidence of the currency’s new-found resilience.
Images of the redesigned notes began circulating online shortly after the announcement, triggering a wave of reactions across social media platforms.
On Saturday morning, Nick Mangwana, Permanent Secretary for the Ministry of Information, Publicity and Broadcasting Services, posted a video of the new notes on his X account with a celebratory message.
“MARI YEZIMBABWE IS HERE
It is here.
Not a whisper from across the ocean. Not a borrowed idea wearing borrowed clothes. It is here. It is our own. And for the first time in a long time, we are not looking over our shoulder for permission. We are embracing it fully.
Ko ndoyeduzve. There it is. It fits. That it was always meant to arrive at this shore, at this time.
For about two years now, it has been showing its pedigree. Not with fanfare. Not with declarations. But quietly. Steadily. It has held its own space fully, like a tree that does not need to announce its roots. It simply stands,” he wrote.
In the comments section, Zimbabweans shared mixed reactions — some welcoming the development, others urging caution.
“Zvakarongeka izvi (this is good).. shilling ne kwacha are working well in their respected countries w, we should follow suit,” one user wrote.
“The most important part to these notes is their value and availability, so far the value has been managed by it’s unavailability we wait to see how it will go,” one user wrote.
As the new notes prepare to enter circulation, attention now turns to whether the ZiG can maintain price stability and public trust the twin pillars the central bank says will determine the pace toward a fully ZiG-based economy.