Online Reporter
Freeman Razemba, [email protected]
PEOPLE are expected to line up outside major banks across the country today as a new series of Zimbabwe Gold (ZiG) notes officially enters circulation, featuring the iconic Zimbabwe Bird security mark and wildlife designs — a historic development signalling a change of sovereignty on the country’s upgraded banknotes.
The notes, released today, are in ZiG10, ZiG20 and ZiG50 denominations, while higher values — ZiG100 and ZiG200 — will be introduced gradually to meet demand.
The Central Bank said sufficient quantities of the new ZiG notes have already been distributed nationwide to meet anticipated cash requirements. Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu said the currency was distributed in line with stipulated daily and weekly cash withdrawal limits.
The central bank believes the introduction of the upgraded notes will help increase the use of the local currency, a key condition under the Staff Monitored Programme (SMP) agreed between Government and the International Monetary Fund (IMF) in February.
Commercial banks will begin disbursing the new Zimbabwe Gold notes for public use from today. The rollout will be phased, with ZiG10, ZiG20 and ZiG50 becoming available at automated teller machines (ATMs) and banking halls this week. Cash withdrawal limits are set at ZiG10 000 per week for individuals and ZiG100 000 for corporates.
According to the RBZ, as of March 31, the ZiG currency was backed by US$1,3 billion in foreign currency reserves, nearly twice the total value of ZiG deposits in the banking system.
The upgraded ZiG notes feature improved design, enhanced durability and advanced security features that meet international standards and form part of the broader de dollarisation roadmap aimed at reintroducing a mono currency system.
In a statement, Dr Mushayavanhu said the central bank was “pleased to advise the public that the upgraded BiG5 ZiG banknotes will commence circulation in the economy” from tomorrow (Tuesday). The move is consistent with the February 2026 Monetary Policy Statement and Statutory Instrument (SI) 37 of 2026.
“The issuance and circulation of the new series of ZiG banknotes was preceded by a successful nationwide ZiG educational and awareness campaign undertaken by the Reserve Bank from March 1 to 31, 2026, wherein the issuance and rollout plan was also comprehensively articulated by Reserve Bank staff.
“The Reserve Bank and banking institutions have put in place all the necessary logistics and operational modalities for the seamless rollout of the upgraded BiG5 ZiG Banknotes. Accordingly, the family of new BiG5ZiG banknote series have since been distributed throughout the whole country in sufficient quantities to meet anticipated cash demand, consistent with the stipulated daily and weekly cash withdrawal limits,” said Dr Mushayavanhu.
The phased rollout will begin with ZiG10, ZiG20 and ZiG50 denominations, while higher value notes — ZiG100 and ZiG200 — will be introduced gradually, guided by transactional demand and prevailing monetary and financial conditions.
The approach is expected to maintain public confidence and prevent panic driven economic behaviour.
Dr Mushayavanhu said ZiG coins — ZiG1, ZiG2 and ZiG5 — introduced on April 5, 2024, have been re-issued in sufficient quantities and will remain in circulation to support low value transactions and ease pressure on small denomination notes.
The coins are expected to address persistent shortages of small change, which have often forced consumers to forgo balances or accept substitutes such as sweets and chocolates. In some cases, retailers would round prices to the nearest whole number, disadvantaging consumers — for example, items that could be sold for ZiG45 being priced at ZiG50, to avoid sourcing ZiG5 change.
Dr Mushayavanhu also advised that the old ZiG banknote series will continue to co-circulate indefinitely with the new “BiG5 ZiG” notes, and would “naturally and automatically be phased out of circulation once they are deposited into the banking system”.
“The upgraded ZiG banknotes series will be available through normal banking platforms, including banking halls, Automatic Teller Machines (ATMs) and HomeLink Kiosks.
“The Reserve Bank has also encouraged merchants and retailers, such as supermarkets, pharmacies and hardware shops, among others, to offer ZiG cashback facilities to customers on demand, and Mobile Money Operators (MNOs) to resume cash in and cash out provisions in ZiG.
“Accordingly, the Reserve Bank assures the public of the availability and adequacy of ZiG banknotes to meet cash demand,” he said.
The RBZ reaffirmed its commitment to “stay the course” with prudent monetary policy management, to ensure sustained price, currency and exchange rate stability.
In this context, the central bank “strongly” encouraged the public to embrace and use the upgraded BiG5ZiG banknote series “with pride and confidence”.
Authorities say the rollout, backed by tight controls and clear policy direction, marks a step towards consolidating a stable and predictable monetary environment.
Economic analysts note that the timing of the rollout is critical, coming at a period of single digit inflation, tight liquidity conditions, rising foreign currency reserves and a narrowing gap between parallel and official exchange rates, all of which have strengthened confidence in the ZiG.
