On 5 April 2024, the Reserve Bank of Zimbabwe Governor, Dr John Mushayavanhu, announced the Zimbabwe Gold as the new currency to replace the inflation-battered Zimbabwe Dollar .
The introduction of ZiG has shaken normal transacting for the public and business owners, owing mostly to financial institutions' systems' migration to ZiG and to the impending death of the ZWL notes. A lot of misinformation and disinformation has left the public confused over the ZWL and ZiG. Over the past week, the Reserve Bank of Zimbabwe has explained and clarified facts regarding the new currency and the window period in which the old currency will be valid.
The RBZ explained,"The Reserve Bank would like to reiterate that the ZWL$ notes currently in circulation are still valid and remain legal tender until 30 April 2024. Accordingly, the ZWL$ notesOn 5 April, the RBZ gave businesses, banks and financial services a week to configure systems to ZiG. As a result, most services were unavailable for days immediately after that. The public could not buy electricity tokens, pay Council rates digitally or buy local currency airtime online.
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