Zim to Dedollarise by 2030 | New Redesigned ZiG Coming
Zim to Dedollarise by 2030 | New Redesigned ZiG Coming
Zimbabwe is pressing ahead with its plan to phase out the US dollar and make Zimbabwe Gold (ZiG) the sole legal tender by 2030.
The Reserve Bank of Zimbabwe (RBZ) has reaffirmed its commitment to the transition, urging businesses and citizens to embrace the shift.
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RBZ Deputy Governor, Dr Innocent Matshe, made it clear that there was “no going back” on the move towards a full domestic currency regime. He stated:
“If we are going to progress, we need to put our shoulders to the wheel and get it moving. We cannot develop using another country’s currency. That is something that we need to understand and we need to internalise.”
He emphasised that the shift was not a sudden event but a gradual process aimed at stabilising the economy.
Dr Matshe stressed:
“There is no going back on the targets set by His Excellency for 2030. The Governor (Dr Mushayavanhu) has said we do not want 2030 to be an event, he means it, it has to be a process and we do not want to feel it when we get there.”
He assured that administrative measures would be taken to ensure a smooth transition, driven by market forces rather than abrupt government intervention.
Zim to Dedollarise by 2030 | New Redesigned ZiG Coming
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John Mushayavanhu made it clear that this does not mean a new currency is being introduced.
“The redesign of the ZiG notes incorporates valuable feedback received from stakeholders during the 2025 Monetary Policy Statement and Reserve Bank 2025-2029 strategy formulation stakeholder consultations,” said Dr Mushayavanhu.
“Stakeholders noted that the ZiG had been generally accepted by consumers and businesses, and it was crucial to improve the quality and durability of the current notes, in line with international standards.”
The current ZiG notes, introduced in April last year, have been found to wear out quickly. Many users have complained that they fade, fray, and become difficult to handle. Merchants and banks have also raised concerns over the usability of damaged notes.
Dr Mushayavanhu explained that periodic redesigns are a standard practice worldwide to combat counterfeiting and improve durability.
