Zimbabweans Must Shift Mindset and Be Positive of ZiG Currency – RBZ Top Official

Negative perceptions of the local ZiG currency must be changed so that the nation quickly moves towards the realisation of a mono-currency economy, a top Central Bank official has said.

Speaking during a stakeholder engagement meeting on education and awareness of the new Big 5 ZiG banknotes in Chinhoyi this week, RBZ Legal and Corporate Affairs Director, Virginia Sithole, said while it is true that some citizens suffered losses due to currency distortions and the poor performance of previous local currencies, the ZiG had performed favourably, thereby warranting public confidence.

“As Zimbabweans, the ZiG is a symbol of our national identity and pride. Let us embrace it. Yes, I know most people have had unmemorable experiences with previous local currencies, but we need to change that mindset because the ZiG has done so well, resulting in annual inflation tumbling to single digits, a phenomenon that never happened in over 30 years,” said Sithole.

“Let us forget our past experiences and make use of our own local currency…let’s shift our mindset and be positive of the future of our economy.”

Sithole was part of a team touring Mashonaland West province ahead of the rollout of upgraded ZiG banknotes on April 7, 2026, featuring enhanced security elements and improved durability.

The exercise is expected to elicit acceptance of the new ZiG banknotes, which come in denominations of 10, 20, 50, 100, and 200, showcasing Zimbabwe’s Big Five wildlife.

The rollout aims to boost confidence in the local currency, reduce counterfeiting and enhance transactional efficiency.

Sithole emphasised that the introduction of the enhanced notes is not a new currency, but rather an upgrade with improved design and security features.

“The public must be mindful that we are not introducing a new currency, but improved and upgraded ZiG notes which meet international standards. They are more durable but citizens must improve on handling etiquette to ensure they remain in circulation for the longest period of time,” Sithole told stakeholders.

RBZ Deputy Director for Economic Research, Modelling and Policy, Dr William Kavila, said the timing of the new improved ZiG banknotes coincided with macroeconomic stability prevailing in the country, as evidenced by a strong local unit.

“The annual inflation rate has hit an all-time low, single digit, for the first time in three decades. Therefore, the timing to invest in more durable notes couldn’t have come at a more opportune moment,” said Kavila.

For the next month, the central bank will undertake a comprehensive public education campaign to familiarise citizens with the new security features and ensure a smooth transition.

Douglas Chiwiro, Director of Economic Affairs in the office of the Mashonaland West Minister of State for Provincial Affairs and Devolution, Marian Chombo said that already the district development coordinators’ offices had been activated to assist RBZ staff to convene public grassroots meetings to ensure the public has a buy-in of the new ZiG and make it a currency of choice ahead of forex.

In a speech read on her behalf by Permanent Secretary Josphat Jaji, Chombo said the engagement marked an important step in ensuring that Mashonaland West province is fully informed, prepared, and aligned with this significant currency and monetary development.

“The education and awareness campaign will go a long way in deepening financial literacy, fostering trust in our currency, and empowering every Zimbabwean to participate more fully and confidently in our economy,” said Chombo.

“Importantly, the education and awareness campaign will ensure that our people are knowledgeable about the upgraded ZiG banknotes so that they are not prejudiced of their hard-earned incomes and savings.

“The introduction of the high-quality Upgraded ZiG Banknotes series is an integral part of our National Development Strategy 2 (NDS2). The ZiG is our own currency and a symbol of nationhood and sovereignty.

“The NDS2 emphasises the importance of macroeconomic stability, financial inclusion, and sustainable development anchored on the exclusive use of its own currency in the domestic economy.

“From an economic point of view, exclusive use of its own currency enhances the country’s growth potential, allows autonomous fiscal, monetary and exchange rate policies to boost the economy’s resilience from recurring and asymmetric shocks.

“As such the introduction of a new ZiG notes is not an isolated event. It is part of a broader economic reform agenda designed to consolidate stability, restore confidence, enhance competitiveness, and support sustainable growth across all sectors.”

By New Zimbabwe.