Story by Stanley James, Business Editor
THE Reserve Bank of Zimbabwe (RBZ) has injected more than US$1.6 billion into the interbank foreign exchange market since April 2024, as part of sustained efforts to stabilise the Zimbabwe Gold (ZiG) currency and meet growing demand for foreign currency.
The figures were presented at the Zimbabwe Impact Investment Dialogue held on the sidelines of the Zimbabwe International Trade Fair (ZITF) this Tuesday, highlighting ongoing policy measures to support the domestic currency following its introduction.
Authorities said the intervention has improved exchange rate stability and enhanced access to foreign currency for productive imports, contributing to broader economic performance and industrial growth.
United Nations Development Programme (UNDP) Resident Representative, Dr Ayodele Odusola urged Zimbabwe to prioritise investment that delivers long-term development outcomes.
“Zimbabwe needs investment that supports transformation, not only transactions. Impact investing can help mobilise private capital for national development priorities, but this requires credible data, strong partnerships, de-risking, investable pipelines, and a clear commitment to measurable results,” he said.
Dr Odusola added that the UNDP will continue working with Government, the Zimbabwe Investment and Development Agency (ZIDA), financial institutions and development partners to strengthen the country’s impact investment ecosystem.
Permanent Secretary for Presidential Affairs and Devolution in the Office of the President and Cabinet, Engineer Tafadzwa Muguti said Zimbabwe must shift from aid dependency towards investment-driven growth.
“We need to transition from aid to investment. We must understand the kind of capital we want and ensure development starts at grassroots level. The aim is to strengthen devolution, reduce dependency on the fiscus, and advance the Sustainable Development Goals,” he said.
He emphasised the importance of policy consistency and fiscal equalisation in building long-term economic resilience.
RBZ Deputy Governor, Dr Innocent Matshe reaffirmed the central bank’s commitment to sustaining currency stability and strengthening investor confidence.
“We need strong partnerships to attract the right level of capital. Impact investment is key as it facilitates job creation, macroeconomic stability, and confidence. Financial stability is the way forward,” he said.
He noted that the introduction of the ZiG currency marks a deliberate step towards enhancing economic credibility, adding that impact-aligned financial instruments will be critical in supporting growth.
The dialogue also provided a platform for stakeholders to review economic performance, identify challenges and propose strategies to boost exports and diaspora remittances as Zimbabwe positions itself for investment-led growth.
