ZiG Transactions Surge to ZiG56.8 Billion: Gold-Backed Currency Accounts for 43% of National Payments

Zimbabwe’s gold-backed currency, Zimbabwe Gold (ZiG), has reached a significant milestone, accounting for nearly half of all transactions processed through the National Payment System. According to the Reserve Bank of Zimbabwe (RBZ), ZiG transactions surged from ZiG7.86 billion in April 2024 to ZiG56.8 billion by May 30, 2025, representing a remarkable 43% of national payments.

The prevailing macroeconomic stability has improved ZiG’s demand for transactions and saving purposes, RBZ Governor Dr. John Mushayavanhu said. The velocity of ZiG has significantly moderated, suggesting that more economic agents are keeping ZiG in their bank accounts for relatively longer periods. The RBZ has been building gold reserves to underpin ZiG, with President Emmerson Mnangagwa inspecting 3,400kg of gold reserves last week, up from 1,500kg held a year ago.

The RBZ has ramped up cash distribution efforts and is working to enhance access to ZiG cash through ATMs and banking halls. Dr. Mushayavanhu reassured the public that the central bank’s strategy is measured and controlled, and the injection of ZiG notes and coins will not result in excess liquidity. The RBZ says sustained macroeconomic stability, increased access to cash, and growing reserve backing will be key to ensuring long-term success for ZiG and the broader economic reform agenda.