Zimbabwe Embraces New Currency, ZiG, with National Pride

April 30, 2024
| Report Focus News

President Emmerson Mnangagwa has lauded the Zimbabwean populace for their wholehearted adoption of the new national currency, the Zimbabwe Gold (ZiG), describing it as a pillar of the nation’s identity and dignity. His remarks came during a solemn occasion at the National Heroes Acre, where the country paid its last respects to three national heroes — Nyasha Dzimiri, retired Brigadier General Shadreck Vezha, and Tsitsi Jadagu — on Monday, 29 April.

“I commend all Zimbabweans for the manner we have adopted and are protecting the use of our own currency, the Zimbabwe Gold (ZiG). Congratulations, Makorokoto Zimbabwe. This is our national currency and part of the symbols of our national identity and dignity,” President Mnangagwa expressed.

The introduction of ZiG marks a significant milestone in Zimbabwe’s economic landscape, aiming to stabilize the local market and restore confidence in the national economy. The new currency, which officially replaced the depreciating Zimbabwe dollar (comprising RTGS and bond notes) on 05 April 2024, is expected to start circulating in the form of notes and coins from this Tuesday. The Reserve Bank of Zimbabwe (RBZ) has set cash withdrawal limits at ZiG3,000 for individuals and ZiG30,000 for corporates, ensuring ample liquidity for daily transactions.

The RBZ further reassured the nation of its robust reserves, which include US$100 million in foreign currency and 2.5 tonnes of gold valued at approximately US$185 million, providing a solid backing for the new currency.

As Zimbabwe transitions to this new monetary system, the government continues to urge all citizens to rally behind the ZiG, embracing it not just as a currency, but as a symbol of national pride and economic resilience.