The Zimbabwean Cabinet has approved a de-dollarization roadmap outlining “modalities to operationalize the Zig currency as legal tender for use in the economy.” Zimbabwean officials have set early 2026 as the new deadline for making the Zig the country’s sole currency. The central bank is expected to strengthen the mandatory licensing requirements, which compel business […]
Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), has injected over US$ 50 million into the interbank foreign exchange market to stabilize the economy. This move comes as the parallel market exchange rate is significantly higher than the official rate, causing economic instability. The RBZ aims to increase foreign currency supply, reduce pressure …
The Zimbabwean government has formed a multi-stakeholder committee, tasked with consulting stakeholders in the cryptocurrency ecosystem. This committee, known as the National Risk Assessment Coordination Committee (NRACC), aims to determine the nature and extent of the cryptocurrency ecosystem in Zimbabwe. It will also evaluate the risks associated with cryptocurrencies, such as their potential misuse for […]
The Zimbabwean government plans to launch what it calls a “structured currency.” Some commentators and social media users have expressed skepticism over the government’s latest currency plans. Zimbabwe’s Structured Currency The Zimbabwean Finance Minister, Mtuli Ncube, has said his government plans to halt the local currency’s freefall by linking it to gold and establishing a […]
The Zimbabwean central bank recently said it is close to rolling out gold-backed digital tokens “for transactional purposes.” According to the bank’s governor, the gold-backed digital tokens have already proven to be an effective monetary policy instrument. Central bank governor John Mangudya also said the results of a consumer survey had shown that residents had […]