Londile Moyo
Sikhulekelani Moyo [email protected]
AUTOMATED teller machines in Bulawayo yesterday began dispensing the upgraded Big5 Zimbabwe Gold (ZiG) banknotes, with residents welcoming the improved quality of the local currency and calling for wider circulation measures.
The rollout forms part of a broader monetary policy reset aimed at stabilising the economy and restoring confidence in the domestic currency.
The new notes, backed by a blend of precious minerals and foreign currency reserves, are designed to be more durable and of higher quality than the earlier series.
In interviews, Bulawayo residents commended the improved appearance and texture of the notes.
“This is real money, but here in Bulawayo, we have a challenge of commuter omnibus operators not accepting the local currency for fares, which is affecting its circulation. We urge the Government to address this issue,” said a street vendor who declined to be named.
“It is good that we are now using our own currency. We are tired of depending on foreign currency.”
According to the Reserve Bank of Zimbabwe, the new notes will circulate alongside existing ZiG notes while worn-out notes are gradually withdrawn from the market.
The central bank has also encouraged retailers to provide cashback services to customers to improve access to small denominations and support smoother transactions.
Small-scale traders in the city said they are ready to accept the upgraded notes as circulation expands.
“This is our own money, we cannot reject it. We are currently waiting to see people bringing it to us because we can only have it if customers start to withdraw it from banks and bring it to us,” said Ms Monica Ndlovu, a local trader.
“The quality is good, and we wish to see this local currency stability being sustained.”
Another street vendor operating at the corner of 9th Avenue and Jason Moyo Street said recent exchange rate stability had helped improve confidence in the local currency.
“We have been using ZiG for some time now. We wish to see an end to the parallel market because these are the people who manipulate exchange rates,” she said.
The ZiG, introduced in April 2024, remains a key component of the Government efforts to tame exchange-rate volatility, curb inflation and strengthen confidence in the financial system.
Online Reporter