https://en.sputniknews.africa/20250811/reserve-bank-of-zimbabwe-mandates-all-banks-fully-deploy-zig-cash-through-atms-by-september-1076763903.html
Reserve Bank of Zimbabwe Mandates All Banks Fully Deploy ZiG Cash Through ATMs by September
Reserve Bank of Zimbabwe Mandates All Banks Fully Deploy ZiG Cash Through ATMs by September
Sputnik Africa
Reserve Bank of Zimbabwe Mandates All Banks Fully Deploy ZiG Cash Through ATMs by September 11.08.2025, Sputnik Africa
2025-08-11T08:48+0200
2025-08-11T08:48+0200
2025-08-11T08:48+0200
sub-saharan africa
economy
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Reserve Bank of Zimbabwe Mandates All Banks Fully Deploy ZiG Cash Through ATMs by SeptemberThe directive stems from the growing trend of electronic transactions, which have surged from 26% to over 40% since April 2024.👉 To meet rising demand and improve cash accessibility, banks must hold at least 3% of their ZiG deposits in physical cash, the Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu said, mentioning plans to modernize ZiG banknotes. Stakeholders have called for stronger efforts to promote ZiG adoption and raised concerns about the broader monetary framework, including: 🟠the need for a clear de-dollarization roadmap,🟠the security of foreign currency deposits beyond 2030.The de-dollarization strategy will be integrated into the National Development Strategy II, with the RBZ leading stakeholder consultations, the governor said.
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economy, zimbabwe, southern africa
economy, zimbabwe, southern africa
Reserve Bank of Zimbabwe Mandates All Banks Fully Deploy ZiG Cash Through ATMs by September
The directive stems from the growing trend of electronic transactions, which have surged from 26% to over 40% since April 2024.
👉 To meet rising demand and improve cash accessibility, banks must hold at least 3% of their ZiG deposits in physical cash, the Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu said, mentioning plans to modernize ZiG banknotes.
Stakeholders have called for stronger efforts to promote ZiG adoption and raised concerns about the broader monetary framework, including:
🟠the need for a clear de-dollarization roadmap,
🟠the security of foreign currency deposits beyond 2030.
The de-dollarization strategy will be integrated into the National Development Strategy II, with the RBZ leading stakeholder consultations, the governor said.
