The Reserve Bank of Zimbabwe (RBZ) has unveiled a new series of ZiG banknotes set to enter circulation on 7 April 2026, as part of broader monetary reforms aimed at stabilising the country’s currency and preparing for a mono-currency system by 2028.
Presenting the 2026 Monetary Policy Statement, RBZ Governor John Mushayavanhu announced that the redesigned notes will initially be issued in ZiG10, ZiG20 and ZiG50 denominations, with ZiG100 and ZiG200 notes to follow at a later stage to maintain market stability.
The new notes feature Zimbabwe’s iconic Big Five animals, a design shift the central bank says reflects national heritage while enhancing security features.
In a key monetary decision, the central bank maintained the bank policy rate at 35 percent, signalling a cautious approach aimed at sustaining price stability and keeping inflation within single digits.
Governor Mushayavanhu said the measures are part of ongoing efforts to consolidate currency gains and reinforce confidence in the ZiG.
The RBZ also announced tighter regulations in the micro-lending sector.
“With immediate effect, all these nano loans must be underwritten by a commercial bank,” the central bank directed, in a move designed to curb predatory lending practices and strengthen oversight within the financial system.
Zimbabwe’s gold reserves have significantly increased to 4.2 tonnes, up from 1.5 tonnes in April 2024, according to the Governor.
The growth follows a 2022 policy compelling miners to pay part of their royalties in physical gold — a strategy aimed at strengthening reserve backing for the ZiG.
To address pricing distortions caused by lack of small change, the RBZ will also reissue ZiG coins. Authorities say this will eliminate the practice of rounding up prices and improve transactional fairness in the market.
While Zimbabwe will retain the multi-currency system for now, Governor Mushayavanhu outlined a roadmap toward a mono-currency regime by 2028.
He said the transition will depend on maintaining key economic milestones, particularly sustained single-digit inflation, fiscal discipline and adequate reserve backing.
The developments mark what the central bank describes as the next phase in Zimbabwe’s currency stabilisation programme, with authorities expressing confidence that the reforms will anchor macroeconomic stability ahead of the planned transition.
