RBZ Digital Currency&Tokenized ZiG Mops Up Billions

Reserve Bank of Zimbabwe’s (RBZ) outgoing Governor Dr John Panonetsa Mangudya’s digital currency and latest tokenized gold sales have mopped up a whooping billions of Zimbabwe dollars.

This was confirmed exclusively by the Governor when he availed details on the, “752,36 kilograms of gold the central bank has since issued.”

Zimbabwe now joins other African states like Nigeria, Ghana and South Africa that have introduced digital currencies, even as several others have plans in the works.

ZiG or Zimbabwe Gold introduction was part of a wider plan by the central bank to stabilise the country’s local unit, which has been faltering against the US dollar, by mopping up excess liquidity in the market.

The RBZ Gold Backed Digital Tokens sales disposed of 752,36 kg’s and Zimbabwe Gold (ZiG) as it is popularly known was launched in October 2023 following the successful issuance of physical gold-backed tokens in 2022. The digital tokens can be stored in either e-gold wallets or e-gold cards and are tradable for peer-to-peer and business transactions.

The ZiG value is at par with the value of the physical Mosi-oa-Tunya gold coin and remains informed by the international gold price and on Friday, the
RBZ Governor revealed that a significant chunk of ZW$ was mopped up after the latest sales.

“The RBZ would like to notify the public of the results of the RBZ Gold Backed Digital tokens Issue No.20/2025 held last Week. The bank received 7 applications valued in Zimbabwean dollar billions to purchase GBDT and the full amount was allotted,” Governor Mangudya said.

Ross Moyo

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