Zimbabwe Shifts Focus: Build Gold-Backed Currency, Not Battle Dollar, Central Bank Deputy Says
16:36 19.09.2025 (Updated: 16:44 19.09.2025)
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Zimbabwe Shifts Focus: Build Gold-Backed Currency, Not Battle Dollar, Central Bank Deputy Says
“We should talk about mono-currency; the time to talk about de-dollarization is over,” Innocent Matshe noted at an annual finance ministry conference in Bulawayo.
By 2030, the Zimbabwe Gold (ZiG) is expected to become the sole legal tender, he pointed out.
The full implementation of the ZiG, according to Matshe, should come after:
🟠 annual inflation drop from 94% to single digits;
🟠 building of sufficient foreign currency reserves.
For now, the ZiG, introduced in 2024 as an initiative to provide viable local currency, accounts for around 40% of transactions in the country, the Zimbabwean central bank reported.
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