HARARE – The Reserve Financial institution of Zimbabwe (RBZ) says present macroeconomic fundamentals — together with low inflation, alternate fee stability, and rising overseas forex reserves — present a strong basis for a gradual transition to the only real use of the native forex throughout the subsequent 5 years.
RBZ Governor John Mushayavanhu informed The Sunday Mail that the transfer in direction of a mono-currency regime by 2030 will restore full financial sovereignty and strengthen management over home financial coverage.
“Zimbabwe launched a brand new forex in April 2024 and is presently in its adjustment part on the street to full mono-currency by 2030,” stated Dr Mushayavanhu.
“The transition course of requires a cautious and gradual method within the implementation of acceptable financial and financial insurance policies to create the specified situations. When the basics are in place, the street to mono-currency can be market-driven.”
Steady Circumstances for Transition
In response to the central financial institution, Zimbabwe’s inflation has remained low and secure, averaging 0.5 p.c per thirty days this yr, whereas the alternate fee has stayed throughout the regional convergence goal of ±10 p.c.
Overseas forex reserves have additionally elevated from 0.4 months of import cowl to 1.2 months by the tip of final month — an indication of strengthening exterior buffers.
State media stories that this progress displays improved coverage coordination between the RBZ and the Treasury, following years of reforms geared toward rebuilding confidence within the financial system.
“The acquiring stability is demonstrated by the better-than-expected inflation outlook and the narrowing hole between the parallel alternate fee and official costs,” the central financial institution famous.
Constructing Confidence in ZiG
Mushayavanhu stated sustaining sturdy stability of the Zimbabwe Gold (ZiG) forex stays a high precedence, underpinned by deliberate efforts to spice up overseas reserves and public belief.
“The Reserve Financial institution has been intentionally accumulating overseas forex reserves to assist long-term stability,” he stated.
“In consequence, gross overseas reserves have risen steadily to over US$900 million, representing about 1.1 months of import cowl, pushed by file tobacco, gold and mineral exports. The goal is to construct reserves to at the least three to 6 months of import cowl within the medium time period.”
Banking sector stability has additionally been maintained, with non-performing loans (NPLs) at simply 2.9 p.c, effectively under the worldwide benchmark of 5 p.c.
To additional strengthen confidence in ZiG, the central financial institution has emphasised coverage transparency, efficient communication, and constant financial administration.
“The Reserve Financial institution recognises that confidence-building is just not an occasion however a course of, and we’re addressing it by way of improved liquidity administration and elevated use of ZiG in Authorities transactions,” Mushayavanhu stated.
“The Financial institution can also be reviewing transaction prices and fee programs to boost the attractiveness of native forex utilization.”
Public Confidence Rising
Findings from the RBZ’s ZiG Notion and Confidence Survey II present public acceptance of the brand new forex has surged — from 40 p.c in June 2024 to over 90 p.c by September 2025.
ZiG’s share of transactions on the Nationwide Cost System (NPS) additionally rose from 26 p.c in April 2024 to a peak of 43 p.c in Could 2025, reflecting rising confidence and adoption.
Path Towards Full Financial Sovereignty
For Zimbabwe, which adopted a multi-currency regime in 2009 after the collapse of the Zimbabwe greenback, returning to the unique use of native forex marks a pivotal step in reclaiming full management over financial coverage.
State media commentaries spotlight that the RBZ’s phased method — anchored on macroeconomic stability, overseas reserve accumulation, and financial self-discipline — ensures that the transition can be sustainable and market-driven.
“The Reserve Financial institution and Authorities will stay vigilant and proactive in responding to any rising dangers that will destabilise the financial system,” the Financial institution stated in a press release.
Economists consider that, if present developments persist, Zimbabwe may obtain full mono-currency standing by 2030, unlocking new alternatives for home development, funding, and monetary independence.
