NEARLY half of all transactions processed through Zimbabwe’s National Payment System are now being conducted in the Zimbabwe Gold, signalling growing public confidence in the local currency, according to a new Reserve Bank of Zimbabwe survey.
The survey — titled, “ZiG Perception and Confidence Survey II” and launched in August this year — shows that acceptance of the ZiG has surged to over 90 percent, up from 40 percent recorded in June last year.
This marks one of the strongest indications yet that efforts to restore trust in the domestic currency are yielding results.
According to the RBZ, ZiG transactions, including electronic transfers, ATM withdrawals and Point of Sale (POS) purchases, have increased from 26 percent in April 2024 to 43 percent in May 2025, while overall usage of the currency has expanded by 43 percent over the past year.
The surge in adoption aligns with the Government’s de-dollarisation roadmap, which seeks to transition Zimbabwe to a mono-currency economy within the next five years.
The central bank has also strengthened currency stability by building reserves now valued at US$900 million, comprising gold and foreign exchange holdings.
RBZ Governor John Mushayavanhu said the central bank is working to make the ZiG more attractive by reviewing transaction costs and upgrading payment infrastructure.
“The Reserve Bank recognises that confidence-building is not an event but takes time and is being addressed through consistent policy communication, improved liquidity management and increased use of ZiG in Government transactions,” said Mushayavanhu.
He added that the ongoing review of transaction fees and improvements to the payment system are part of broader efforts to promote convenience and stability in the use of the local currency.
“The Reserve Bank is also reviewing transactions costs and payment infrastructure to enhance the attractiveness of local currency usage.
“Some 40 days ago, the Reserve Bank just launched a ‘ZiG Perception and Confidence Survey II’ and preliminary survey results show that the public is embracing ZiG with the acceptance ratio rising from 40 percent in June 2024 to over 90 percent in September 2025.
“In addition, ZiG transactions on the National Payment System have generally been trending upwards, from 26 percent in April 2024 to a peak of 43 percent in May 2025.”
Last year, the RBZ carried out a survey on the acceptance of the local currency, but the study was limited to a few provinces.
In contrast, the latest ZiG Perception and Confidence Survey II covered a much broader sample across all 10 provinces and included face-to-face interviews, providing a more comprehensive picture of public attitudes towards the ZiG.
The RBZ’s latest findings show that the introduction of the ZiG has helped restore monetary discipline and price stability. Economist Mr Persistence Gwanyanya said the ZiG’s growing stability has strengthened its role as a reliable medium of exchange and store of value.
“The stability of the ZiG has revived key characteristics of money which are essential for acceptance, wide use and functionality,” he said.
“It is now being used to maintain and store value as well as being used for lending and credit purposes, thereby increasing confidence in the local currency.”
The central bank has also implemented a range of measures to promote wider use of the currency, including enforcing the mandatory acceptance of ZiG for all local transactions, expanding access to ZiG-denominated banking and digital payment platforms, and ensuring the availability of smaller denominations to facilitate everyday purchases.
Furthermore, the RBZ has maintained a tight monetary policy to control money supply growth, supported by increased gold and foreign currency reserves backing the ZiG.
The central bank is also working on redesigned ZiG banknotes to enhance quality and durability. – Herald
