The Reserve Bank of Zimbabwe has confirmed readiness for the rollout of new ZiG banknotes, with sufficient supplies already distributed nationwide. The phased introduction will begin with lower denominations while higher values will follow based on demand and economic conditions. Authorities and analysts say the rollout supports ongoing monetary stability and aims to strengthen confidence in the domestic currency.
The Reserve Bank of Zimbabwe (RBZ) has confirmed that all preparations are in place for the rollout of a new family of ZiG banknotes starting tomorrow, with sufficient quantities already distributed across the country to meet expected cash demand.
RBZ Governor John Mushayavanhu said the distribution of the new notes was carried out in line with stipulated daily and weekly withdrawal limits, ensuring a controlled and orderly introduction into the economy. Weekly cash withdrawal limits have been set at ZiG10 000 for individuals and ZiG100 000 for companies.
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In a statement issued yesterday, Dr Mushayavanhu said the central bank was “pleased to advise the public that the upgraded BiG5 ZiG banknotes will commence circulation in the economy” from tomorrow. The rollout follows earlier guidance provided in the February 2026 Monetary Policy Statement and is aligned with Statutory Instrument 37 of 2026.
He said the introduction of the new notes was preceded by a nationwide ZiG education and awareness campaign conducted from March 1 to March 31, 2026. During this period, RBZ officials outlined the rollout plan and engaged the public on how the new banknotes would be introduced and used.
According to the central bank, all logistics and operational systems have been put in place in partnership with banking institutions to ensure a smooth rollout. The new BiG5 ZiG banknotes have already been distributed countrywide in quantities considered adequate to meet anticipated demand under the existing withdrawal limits.
The rollout will be done in phases, beginning with lower denominations of ZiG10, ZiG20 and ZiG50. Higher denominations, including ZiG100 and ZiG200, will be introduced gradually, depending on transactional demand and prevailing monetary and financial conditions in the domestic economy.
The RBZ said the phased approach is intended to maintain public confidence and avoid panic-driven economic activity. Authorities believe that a controlled rollout will support stability in the financial system while ensuring that the transition is manageable for both consumers and businesses.
Dr Mushayavanhu also confirmed that ZiG coins, first introduced on April 5, 2024, have been re-issued in sufficient quantities. These include ZiG1, ZiG2 and ZiG5 coins, which will remain in circulation to support small-value transactions and ease pressure on lower denomination banknotes.
The availability of coins is expected to address challenges previously faced by consumers, where retailers often failed to provide small change. In some cases, prices were rounded up to the nearest whole number, resulting in higher costs for consumers when exact change was not available.
The RBZ further advised that old ZiG banknotes will continue to circulate alongside the new BiG5 series indefinitely. The older notes will gradually be withdrawn from circulation as they are deposited into the banking system, allowing for a natural transition without disruption.
The new banknotes will be accessible through standard banking channels, including banking halls, automated teller machines and HomeLink kiosks. The central bank has also encouraged retailers such as supermarkets, pharmacies and hardware stores to provide ZiG cashback facilities, while mobile money operators have been urged to resume ZiG cash-in and cash-out services.
The RBZ reaffirmed its commitment to maintaining prudent monetary policy to ensure price stability, currency strength and exchange rate stability. The central bank also encouraged the public to adopt and use the new banknotes with confidence as part of efforts to strengthen the domestic currency.
Authorities and economic analysts say the rollout comes at a time of relative macroeconomic stability, with inflation remaining in single digits and liquidity management remaining tight. The ZiG has also been supported by growing foreign currency reserves and a narrowing gap between official and parallel exchange rates.
Economic analyst Titus Mukove said the introduction of the upgraded banknotes is expected to strengthen the position of the ZiG against the United States dollar, particularly in the context of global economic uncertainty. He noted that current stability indicators support confidence in the currency.
“This optimism is anchored on the current macroeconomic stability, which includes single-digit inflation and a convergence between the parallel and official exchange rates,” said Mr Mukove. “The Reserve Bank has maintained tight monetary policies, and this consistency has helped stabilise the currency.”
He added that growth in foreign exchange reserves has enhanced the ZiG’s resilience, enabling it to absorb external shocks. According to Mr Mukove, the sustainability of this stability is likely, given the market-driven exchange rate and genuine demand within a liberalised system.
