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Wednesday, May 29, 2024
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All set for ZiG notes, coins release  

Story by Stanley James, Business Editor

Zimbabweans will start transacting in Zimbabwe Gold (ZiG) notes and coins this Tuesday after all banks collected the local currency from the central bank for distribution across the country.              

Over 21 days after the launch of the new currency, the wait is now over as banks have collected the new notes and coins for transactions across the country.  

Giving an update this Monday, Reserve Bank of Zimbabwe Governor, Dr John Mushayavanhu revealed that authorities finalised the distribution systems by the end of the business day this Monday.          
        
“We will be seeing the new notes and coins effective this Tuesday, all the modalities have been completed and come tomorrow morning, Zimbabweans can begin to use the currency depending on the logistics of each bank.”

Central bank authorities are upbeat over the use of ZiG for value preservation purposes.  

“There is that need for Zimbabweans to use ZiG, I implore the nation to focus on a currency preservation system to facilitate ease and convenience to Zimbabwe. Like what I have said, it is all about confidence as the central bank, we are guaranteeing confidence in the economy,” said the governor.

With its value being determined by market forces including global prices of gold, central bank authorities are confident of a stable currency. 

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