The Reserve Bank of Zimbabwe (RBZ) says the country’s banking system is stable and secure, further assuring that there will be no loss of value beyond 2030 in line post post-dollarisation.
The RBZ recently said the roadmap for the transition from the current multicurrency regime to a domestic monetary system will ensure business continuity by 2030.
Authorties are putting in place a strong foundation to anchor the transition and post dollarisation era, which started with the introduction of a gold backed currency early last year, which has ushered in durable stability and predictability in the market.
RBZ deputy governor Dr Innocent Matshe, speaking at the Old Mutual Zimbabwe Better Future Summit 2025, emphasised that no value will be lost beyond 2030 and all the banks are adequately capitalised.
“All contracts denominated in foreign currencies, such as the US dollar, will be settled in those currencies, while local contracts will be settled in local currency.
“Currently, banks have a capital adequacy ratio well above the required standards, ensuring that banks have sufficient capital to meet their obligations,” he said.
Zimbabwe is presently operating under a multicurrency regime dominated by the US dollar and Zimbabwe Gold (ZiG), legally provisioned to run until 2030, by which time the country should have strong fundamentals to support a stable domestic unit.
The country officially adopted a US dollar-denominated multicurrency system in 2009 after hyperinflation decimated the value of the then-local currency, the Zimbabwe dollar.
Dr Matshe emphasised the RBZ’s commitment to facilitating payments and ensuring that the banking system operates smoothly.
“The central bank is working to ensure that payment systems are efficient and reliable, allowing individuals and businesses to conduct transactions with confidence,” he said. – Herald
