The Consumer Council of Zimbabwe (CCZ) has urged the Reserve Bank of Zimbabwe (RBZ) to intensify the circulation and awareness of the Zimbabwe Gold (ZiG) currency in the southern parts of the country to improve acceptability and usage.Made in Zimbabwe branding
The central bank is set to introduce new ZiG banknotes with enhanced security features on April 7 as part of ongoing efforts to strengthen the country’s monetary system.
However, businesses and residents in Bulawayo, Matabeleland South and parts of Masvingo have raised persistent concerns over the limited accessibility of physical ZiG cash compared to northern provinces.
The situation has reinforced continued reliance on the South African rand and the United States dollar, particularly for informal sector transactions.
In detailed responses to the Zimpapers Business Hub, CCZ chief executive officer Mrs Rosemary Mpofu said it was critical for the central bank to adopt targeted measures to ensure equitable distribution and improve public awareness of the currency.Zimpapers publication access
“The introduction of ZiG represents an important step toward restoring stability and confidence in Zimbabwe’s monetary system. However, for any currency reform to succeed, the currency must be widely available, trusted by consumers, and accepted across all sectors of the economy,” said Mrs Mpofu.
“Limited circulation of ZiG in certain regions risks undermining these objectives and may perpetuate reliance on alternative currencies.
“From a consumer perspective, it is therefore critical that the Reserve Bank of Zimbabwe (RBZ) adopts targeted measures to ensure equitable distribution, improve public awareness, and encourage broader acceptance of the currency.”
Mrs Mpofu noted that regional economic dynamics must also be taken into account when designing currency distribution strategies.
“Differences in currency circulation between regions may also reflect broader economic factors such as cross-border trade, tourism activity, or local business practices. The Southern region, for example, may experience higher exposure to foreign currency due to its proximity to international borders and tourism flows.
“RBZ should therefore consider regional economic dynamics when designing currency distribution and awareness strategies. Targeted interventions that reflect local economic conditions will be more effective than uniform national approaches.”
She said currency circulation is largely driven by the willingness of businesses to accept and transact in that currency.
“If retailers, transport operators, and informal sector traders are reluctant to accept ZiG, circulation will remain limited regardless of the amount issued by the central bank.
“RBZ can promote acceptance by working with business associations, retailers, and industry bodies to encourage pricing and transactions in ZiG.
“Incentive structures may also be considered to support businesses that actively promote the use of the currency in everyday transactions.
“Particular attention should be given to sectors that interact frequently with consumers, including supermarkets, fuel stations, public transport operators and informal markets.”
Meanwhile, the central bank on Wednesday launched the Big ZiG Campaign in Matabeleland South.
Three teams have since been deployed across the province’s districts to educate communities as part of the awareness campaign, which will run until March 30.-herald
