HARARE – The Reserve Bank of Zimbabwe (RBZ) says its nationwide education and awareness campaign on the country’s upgraded Zimbabwe Gold (ZiG) banknotes has received an overwhelming response, engaging more than 256,000 people across the country during its first week.
The campaign, which began with official launches in all provinces led by Ministers of Provincial Affairs and Devolution, aims to educate the public about the new banknote series and its security features.
RBZ Governor John Mushayavanhu launched the awareness programme in Harare at Parliament on March 2 before taking the campaign to Bulawayo on March 3 and Mutare on March 4. He later engaged stakeholders in Masvingo Province on March 12.
Responding to questions from Zimpapers Business Hub, Dr Mushayavanhu said dedicated field teams began rolling out awareness activities across districts soon after the official launch.
Within the first week, the central bank’s teams had reached 27 of the country’s 60 districts.
“The Reserve Bank has received an overwhelming response and ZiG acceptance during its first week of the nationwide education and awareness campaign,” said Dr Mushayavanhu.
He noted that stakeholders in both urban and rural areas—including business owners, farmers, women and youths—commended the introduction of the upgraded banknotes.
According to the RBZ, participants said the timing was appropriate given what they described as improving macroeconomic stability in the country.
As of March 8, 2026, the campaign had engaged more than 256,000 people nationwide. Participants included government officials, traditional leaders, transport operators, church and civic leaders, school pupils, artisanal miners and members of the general public.
The awareness drive seeks to ensure that both rural and urban communities gain first-hand knowledge of the new ZiG notes and their security features.
During the outreach meetings, members of the public reportedly told RBZ officials that they were beginning to feel greater economic stability, citing relatively stable prices, exchange rates and currency conditions.
According to the central bank, participants observed that inflation had stabilised and that the prices of basic goods and services in local currency had remained largely unchanged for more than a year.
Essential consumer items such as bread, maize meal, cooking oil, rice, soap and detergents—key components of the basic consumer basket—were said to have maintained relatively stable prices over the same period.
Dr Mushayavanhu also said members of the public noted that the ZiG’s exchange rate against the US dollar had remained stable, easing concerns about holding local currency in bank accounts or as cash.
He added that many participants reported a decline in street money-changing activities, while calling for strong management of the upgraded banknotes to eliminate the parallel market entirely.
The RBZ has also reassured the public that the introduction of new banknotes—including higher denominations of ZiG50, ZiG100 and ZiG200—will not fuel inflation or trigger a destabilising parallel market.
The ZiG10, ZiG20 and ZiG50 notes will be introduced first, while the ZiG100 and ZiG200 denominations will enter circulation only when necessary.
Dr Mushayavanhu explained that the new notes will be issued through a swap with existing electronic balances held by banks at the central bank.
“This means the injection of cash into the market will not increase the money supply but will simply change its composition toward more physical cash,” he said.
He added that the distribution of banknotes will be demand-driven and linked to economic activity, reducing the likelihood of a parallel market emerging.
The RBZ further said Zimbabwe is pursuing a foreign currency reserve accumulation strategy that has seen international reserves rise significantly.
According to the central bank, reserves increased to about US$1.2 billion by December 2025, up from around US$2.76 million in April 2024.
This growth in reserves, the RBZ said, has enabled it to meet legitimate foreign payment obligations, including payments for education, health services, chemicals and agricultural equipment sourced outside the country.
As a result, the bank said businesses and individuals should no longer need to turn to the parallel market to obtain foreign currency at inflated rates.