The Reserve Bank of Zimbabwe (RBZ) has taken its Zimbabwe Gold (ZiG) awareness campaign to rural communities as part of efforts to strengthen public understanding and confidence in the country’s currency.
Villagers in Gutu District recently attended an outreach programme aimed at promoting financial literacy and explaining how the ZiG currency works ahead of the release of new banknotes expected next month.
Residents who attended the programme said the engagement helped clarify the role of the local currency and why it should be supported in everyday transactions.
“We are grateful that the Reserve Bank of Zimbabwe has come to explain the ZiG currency and the new notes they are going to put in circulation to us here in the rural areas. Now we understand how it works and why it is important to support it in our daily transactions,” said Jeniffer Chanyau.
Another resident, Benson Dandira, said the campaign helped villagers understand the importance of supporting the country’s currency.
“We are proud to have our own currency as Zimbabweans. The explanations we received today helped us understand the Zimbabwe Gold and why we must support it for the growth of our economy,” he said.
Pettina Mabwe said villagers welcomed the announcement that new ZiG banknotes would soon be introduced.
“We are also happy to hear that new ZiG notes will be introduced. They are said to be more durable and secure, which will make it easier for people, especially in rural areas, to use the currency,” she said.
Traditional Leaders Support Campaign
Deputy President of the Chiefs’ Council, Chief Fortune Charumbira, said traditional leaders would help spread the awareness campaign to grassroots communities.
“As traditional leaders, we are happy that the government is proving that it has its people at heart. We are having these campaigns up to village level, and from the explanations given, we are going to take these awareness campaigns further to our people,” he said.
Addressing the gathering, Reserve Bank of Zimbabwe Governor Dr John Mushayavanhu said the campaign is designed to ensure that all Zimbabweans understand the fundamentals of the country’s monetary policy.
“As the Reserve Bank of Zimbabwe, our priority is to maintain a stable currency, achieve price stability and instil public confidence in our own currency, the Zimbabwe Gold,” Mushayavanhu said.
He said the currency is backed by Zimbabwe’s gold reserves, which currently stand at more than four tonnes, together with other reserves.
“With inflation now at single-digit levels and controlled money supply, we are confident about the stability of the ZiG, and we are introducing more durable and secure notes to support transactions across the economy,” he said.
Support for Monetary Reforms
Minister of State for National Security Lovemore Matuke urged communities to support the country’s monetary reforms to strengthen economic stability.
“We call upon all Zimbabweans, including those in rural communities, to support the country’s monetary reforms. By embracing the Zimbabwe Gold currency and the new durable notes, we are contributing to economic stability and development,” he said.
The awareness campaign forms part of nationwide efforts by the central bank to promote financial literacy and build confidence in the ZiG currency.
New ZiG banknotes are expected to enter circulation on 7 April.
