Online Reporter
Wallace Ruzvidzo-Herald Reporter
PRESIDENT Mnangagwa was yesterday presented with the ZiG100 and ZiG200 banknotes by Reserve Bank of Zimbabwe Governor Dr John Mushayavanhu, who said the bills seek to bolster efforts to modernise local currency.
The RBZ, Dr Mushayavanhu said, would “advise in due course” on when the new denominations, already printed, would be launched and circulated.
“The (ZiG notes) 10, 20, and 50 are already in circulation (and on the release of) the 100 and 200, we will advise in due course,” he said.
The new series of ZiG notes feature the iconic Zimbabwe bird emblem and wildlife-themed security markers, a historic development that underscores a move towards greater monetary sovereignty.
President Mnangagwa was also presented with a full set of all the first copies of bills, including the two yet-to-be-unveiled notes.
“For the year 2025, we were printing the new Big Five ZiG bank note series. So, we have managed to print all the denominations; the 10, the 20, the 50, the 100, and 200 (ZiG notes).
“And today (yesterday), we presented to His Excellency the President, all the denominations of the various notes. We presented to him the first note of each denomination that was printed, in other words, 0001 for the 10 ZiG, 0001 for the 20 ZiG, 0001 for the 50 ZiG, up to the 200 ZiG,” said Dr Mushayavanhu.
The RBZ believes that introducing the new notes will boost the use of the local currency, which is among the conditions of the Staff-Monitored Programme (SMP) approved by Government and the International Monetary Fund (IMF) in February.
As of March 31, the ZiG currency was supported by US$1,3 billion in foreign currency reserves, which is nearly double the total value of ZiG deposits held in the banking sector.
The new ZiG bank notes are a major milestone, with the notes featuring an attractive design, improved durability, and security features that comply with international standards.
The new notes are also part of the Second Republic’s wider de-dollarisation strategy, aimed at moving back toward a single-currency system.
President Mnangagwa visited the RBZ headquarters in May to inspect the country’s gold reserves, which were reported at 4,48 tonnes.
He said the reserves made Zimbabwe the third-largest in Sadc and the 11th in Africa, and will help ensure that the ZiG remains fully backed and resilient to global economic shocks.
“These reserves are tangible assets that underpin our monetary sovereignty, rather than mere numbers,” said President Mnangagwa.
