Staff Reporter

The Reserve Bank of Zimbabwe (RBZ) has issued a clarion call to retailers and businesses across the nation, urging them to continue accepting bond notes as legal tender until April 30th.

This directive follows reports of some establishments refusing to honour bond notes under the pretext that they have been phased out of circulation.

In a statement released yesterday by the RBZ Governor, Dr. John Mushayavanhu, urged business entities to continue accepting payment in Zimbabwean dollar notes until the specified cut-off date

“The Reserve Bank would like to reiterate that the ZW$ notes currently in circulation are still valid and remain legal tender until 30 April. Business entities where the notes have been widely used, including commuter omnibuses, shops, fresh vegetable markets, and vendors, are advised to continue accepting payment in ZW$ notes until the cut-off date.

Accordingly, the ZW$ notes should continue to be used for transactional purposes at the announced ZiG/ZW$ conversion factor of 2 498.72,” stated Dr Mashayavanhu

Furthermore, the RBZ advised the public that an extensive educational and awareness campaign is underway to facilitate a smooth transition from the Zimbabwean dollar to the ZiG currency.

“The educational and awareness campaign on the transition from the ZW$ to the use of ZiG in the market is currently underway and expected to be all-inclusive.

This initiative aims to reach a broader spectrum of society, ensuring that individuals and businesses are well-informed about the impending changes in currency usage by the stipulated deadline of April 30th, 2024,” Governor Mashayavanhu added

Commendably, over 90% of the banking institutions and mobile bank service providers have successfully configured their systems and processes from ZW$ to ZiG, with banking services now being accessible for the convenience of the transacting public.

As the nation prepares for the forthcoming changes in currency usage, the RBZ remains committed to ensuring financial inclusion and stability within the market.

Through proactive measures and clear communication, the central bank aims to mitigate any disruptions while fostering a conducive environment for economic growth and development.