Banks To Issue ZiG Notes From Tuesday – Eduzim News

Tinashe Sambiri– The planned release of new Zimbabwe Gold (ZiG) banknotes by the Reserve Bank of Zimbabwe has been met with skepticism, with critics questioning whether the move will genuinely ease the country’s persistent cash shortages.

RBZ Governor John Mushayavanhu announced that commercial banks would begin distributing the new ZiG notes from Tuesday, insisting the central bank has printed sufficient currency to satisfy demand.

However, many remain unconvinced, citing Zimbabwe’s long history of currency instability and shortages.
In an interview, Mushayavanhu maintained confidence in the rollout, saying, “The Reserve Bank has printed and will distribute enough ZiG banknotes to cater for the demand for cash in the economy.”

He further claimed that the banking sector is fully prepared, stating, “Notes will be available through banks, and to date, all banks have collected their share based on anticipated demand.”

Despite these assurances, strict withdrawal limits have raised concern among both individuals and businesses. Weekly caps have been set at ZiG10,000 for individuals and ZiG100,000 for corporates—figures many argue are too restrictive to meet real economic needs.

Mushayavanhu defended the limits, saying access to cash would be controlled and aligned with policy, adding, “Economic agents will be able to access and withdraw from banks their ZiG cash requirements, consistent with the revised ZiG cash withdrawal limits per week of ZiG10 000 for individuals and ZiG100 000 for corporates.”

The rollout will initially focus on ZiG10 and ZiG20 notes, alongside the introduction of ZiG50 denominations starting April 7, 2026.

Yet concerns linger over whether these denominations will be sufficient in a market already grappling with pricing pressures and limited liquidity.

The central bank also indicated that old ZiG notes will continue circulating temporarily, a move some fear could create confusion and further erode public trust.

Mushayavanhu explained, “The old ZiG banknotes will automatically be phased out of circulation once they are deposited into the banking system.”

He added, “This means that there will be simultaneous circulation and there will be no exchange posts, and the new notes will be obtained normally in the course of commercial and banking transactions.”

While authorities project confidence, the rollout has reignited debate over monetary policy credibility, with many Zimbabweans wary that the introduction of new notes may do little to resolve deeper economic challenges.

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