RBZ Launches ‘Swipe for ZiG Cash’ to End Small Change Shortage

RBZ Launches ‘Swipe for ZiG Cash’ to End Small Change Shortage

In a development expected to bring smiles to the face of the transacting public by easing the shortage of small change, the Reserve Bank of Zimbabwe (RBZ) has launched a new initiative called “Swipe for ZiG Cash.”

In April, the RBZ launched the Zimbabwe Gold (ZiG) as the country’s official currency. However, despite the introduction of small ZiG denominations, the lack of small change remains a persistent challenge.

Also read: Tuckshop Owners Beware: Charging Customers Using ZiG Black Market Rates Now Carries Hefty Penalties

RBZ Partners With Homelink to Solve Small Change Shortage

To tackle this problem, the RBZ has partnered with Homelink to expand access to ZiG cash. This initiative aims to ensure the availability of small denominations such as ZiG1, ZiG2, ZiG5, and ZiG10 across the economy.

In a statement released on Tuesday, the RBZ urged individuals, commuters, public transport operators, retailers, informal traders, vendor associations, and other key stakeholders to visit their nearest Homelink branch starting next Monday. At these branches, they can use their local currency debit or credit cards to “swipe” and obtain the desired ZiG cash.

Also read: Government Explains Why It Is Charging Passports In US Dollars And Not ZiG

Exchanging Foreign Currency for ZiG Cash & Future Plans

Additionally, the central bank advised that people can legally exchange their foreign currency cash for ZiG cash at the Homelink branches, using the prevailing interbank exchange rate.

The RBZ further stated that this arrangement with Homelink to ensure the widespread availability of ZiG cash will be expanded to include other bureau de change operators in the future, although a specific timeline was not provided.

Also read: Good News For Zimbabwean Motorists: You Can Now Buy Fuel Using ZiG, But There’s a Catch

List of Homelink Branches Where You Can Swipe for ZiG Cash

Here is the full list of Homelink branches where people can swipe their bank cards for ZiG cash:

Follow Us on Google News for Immediate Updates