Staff Reporter
The Reserve Bank of Zimbabwe (RBZ) has announced plans to redesign the ZiG banknotes to enhance their durability and security features, aligning them with international standards. The move comes in response to public concerns about the rapid wear and tear of the current notes, which were introduced in April last year.
The transacting public, merchants, and banks have noted that the ZiG banknotes quickly fade, become frayed, and are difficult to handle, affecting their usability. Currently, only the ZiG10 and ZiG20 notes are in circulation. The RBZ is addressing these concerns by introducing higher-quality banknotes with enhanced security measures to combat counterfeiting.
In an interview with the media recently, RBZ Governor, Dr. John Mushayavanhu, confirmed that the redesigned notes are being developed based on feedback from stakeholders consulted during the 2025 Monetary Policy Statement and the RBZ’s 2025-2029 strategic planning process.
“The redesign of the ZiG notes incorporates valuable feedback received from stakeholders.
“Stakeholders noted that the ZiG had been generally accepted by consumers and businesses, and it was crucial to improve the quality and durability of the current notes, in line with international standards,” said Dr. Mushayavanhu.
He emphasised that the redesign does not indicate any form of currency redenomination or reform but is solely aimed at improving the notes’ quality.
“For clarity, the public is advised that the redesign of the ZiG notes does not signify redenomination or any form of currency reform. This initiative is solely focused on enhancing the quality of the notes,” he explained.
The redesigned notes will retain the same denominations introduced at the launch of the ZiG, including ZiG1, ZiG2, ZiG5, ZiG10, ZiG20, ZiG50, ZiG100, and ZiG200.
“I must reiterate that the Reserve Bank is not going to issue a new currency, and in this regard, the public should not be apprehensive.
“Instead, the Reserve Bank is merely redesigning the current banknotes to enhance quality, in line with international standards,” Dr. Mushayavanhu said.
The rollout date for the improved banknotes will be announced in due course, with higher denominations to be introduced only if demand in the economy justifies it. The move reflects global best practices, where central banks periodically update banknotes to improve security and extend their lifespan, thereby reducing replacement costs.
