The Reserve Bank of Zimbabwe has issued a public notice confirming that the Zimbabwe Gold (ZiG) currency maintains its legal status, despite questions about its founding legislation.
In a statement released today, the central bank addressed concerns about potential legal gaps following the expiration of the temporary presidential powers that initially established the currency.
The ZiG was introduced through Presidential Powers (Temporary Measures) under Statutory Instrument 60 of 2024 as part of a significant currency reform initiative. The bank emphasized that currency reforms, by their nature, do not automatically lapse when their founding instruments expire.
“Currency reform measures are only revoked by another legal instrument,” the Reserve Bank stated, adding that the recent Finance Act, which has been gazetted into law, incorporates the provisions of the original statutory instrument.
The statement aims to reassure stakeholders and the public about the currency’s continued validity as legal tender. The Reserve Bank confirmed its commitment to “consolidate its use and stability” as Zimbabwe’s official currency.
This announcement comes as part of ongoing efforts to stabilize Zimbabwe’s monetary system, which has faced various challenges in recent years. The ZiG represents one of the country’s most recent attempts at currency reform.
The notice was issued through the Corporate Affairs division of the Reserve Bank of Zimbabwe on 28 October 20
