By 
The Reserve Bank of Zimbabwe (RBZ) has announced plans to redesign ZiG banknotes to improve their quality and durability in line with international standards. This move comes amid concerns from the transacting public, merchants, and banks about the current notes wearing out too quickly.
Since their introduction in April last year, the ZiG10 and ZiG20 banknotes have faced criticism for fading and fraying easily, making them difficult to handle. To address these challenges, the central bank is working on an improved version of the notes, incorporating advanced security features to combat counterfeiting.https://www.rbz.co.zw/
RBZ Governor Dr. John Mushayavanhu confirmed the development, emphasizing that the redesign is not a currency reform but a quality enhancement initiative.
by Elleanor Chard
“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,” Dr. Mushayavanhu said.
The initiative follows feedback from consultations during the 2025 Monetary Policy Statement and the Reserve Bank’s 2025-2029 strategy formulation process. According to Dr. Mushayavanhu, the rollout date for the upgraded banknotes will be announced in due course.
However, this development comes even as the ZiG has already begun depreciating due to inflationary pressures. When the currency was introduced in April 2024, it was pegged at 13.56 per US dollar. Since then, it has lost value, with exchange rates shifting as inflation takes hold. The RBZ had initially presented ZiG as a stable, gold-backed currency meant to anchor price stability, but rising inflation and increased demand for US dollars have seen the local unit lose ground.
Businesses and consumers have expressed concern over the currency’s erosion in value, with some already shifting back to USD transactions despite government efforts to promote ZiG usage. Some economic analysts argue that while improving the quality of banknotes is a step in the right direction, the focus should be on addressing the root causes of inflation and restoring confidence in the monetary system.
“For clarity, the public is advised that the redesign of ZiG notes does not signify re-denomination or any form of currency reform. This initiative is solely focused on enhancing the quality of the notes,” Dr. Mushayavanhu reiterated.
The redesigned banknotes will retain the original denominations of ZiG1, ZiG2, ZiG5, ZiG10, ZiG20, ZiG50, ZiG100, and ZiG200, ensuring continuity in the country’s monetary system.
As Zimbabwe continues its economic transformation, the central bank remains committed to ensuring a stable and reliable currency. However, with inflation creeping up and the ZiG under pressure, questions remain on whether improving the physical quality of the notes will be enough to restore public confidence in the currency.
Comments