By Staff Reporter
The Reserve Bank of Zimbabwe (RBZ) is set to introduce a new series of ZiG banknotes during the first quarter of the year, as part of its continued efforts to strengthen confidence in the local currency. Authorities have stressed that the process will be phased and well-managed, urging the public not to panic or rush to exchange existing notes.
The ZiG currency, which was launched in April 2024, marked a major shift in Zimbabwe’s monetary policy framework.
It was designed to stabilise the economy by reducing exchange-rate volatility, controlling inflation, and rebuilding trust in the domestic unit.
Unlike earlier currencies, the ZiG is supported by a combination of precious minerals—mainly gold—and foreign currency reserves.
According to monetary authorities, this backing has provided a firmer foundation for macroeconomic stability.
The rollout of the new banknotes coincides with a sharp rise in global gold prices, which this week reached a historic peak of US$5 000 per ounce. The surge reflects heightened global uncertainty, with investors increasingly turning to gold as a safe-haven asset.
Gold remains strategically important to Zimbabwe as its leading export commodity, a major source of foreign currency, and a key pillar supporting the value of the ZiG.
Speaking at an economic engagement forum in Bulawayo, RBZ Deputy Governor Dr Innocent Matshe said the central bank had deliberately adopted a cautious approach to the introduction of the new notes to protect market confidence.
“The redesign of the ZiG banknotes began last year, and the new family of notes will be introduced towards the end of this quarter. They are more durable and of a higher quality,” Dr Matshe said.
He emphasised that the current ZiG banknotes will continue to circulate as legal tender, dismissing concerns that holders would be forced to exchange them immediately.
“There is no reason for the public to rush. Existing ZiG notes will remain valid,” he added.
Dr Matshe noted that the availability of quality banknotes is essential for the country’s long-term goal of transitioning to a stable mono-currency system.
“As outlined in the February 2025 Monetary Policy Statement, the Reserve Bank is already at an advanced stage in producing the new ZiG notes,” he said.
“The full rollout plan, including timelines and modalities, will be announced by the Governor in the February 2026 Monetary Policy Statement.”
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube also confirmed last year, during the presentation of the 2026 National Budget, that production of the new notes was well underway.
In recent days, several banks have informed customers that ZiG cash is now accessible at selected ATMs, a development that has heightened public curiosity ahead of the official rollout.
RBZ officials have, however, reiterated that the issuance of the new notes will be guided strictly by real transactional demand and will not result in excessive liquidity entering the economy.
Addressing inflation concerns, Dr Matshe explained that the move does not amount to money creation.
“The introduction of physical ZiG notes will not expand money supply. Banks will simply convert electronic balances held at the central bank into cash. This is a change in the form of money, not an increase in liquidity,” he said.
Economic analysts say the strategy signals the central bank’s renewed focus on discipline, tight liquidity management and confidence-building—key elements in Zimbabwe’s broader economic stabilisation programme.
By assuring the public that existing notes remain valid and that the transition will be transparent and orderly, the RBZ aims to limit speculation and avoid disruptions to normal banking and commercial activities.
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