No More Cash-Only: RBZ to Enforce POS Machines for Informal Traders to Push ZiG
The Reserve Bank of Zimbabwe (RBZ) is ramping up efforts to promote the use of the Zimbabwe Gold (ZiG) currency—this time, by targeting the informal sector. RBZ Governor Dr John Mushayavanhu says the central bank is planning to make it mandatory for all businesses, including informal traders, to use point-of-sale (POS) machines.
Higher-Quality Banknotes Coming Soon
Speaking to The Sunday Mail, Dr Mushayavanhu also confirmed that the RBZ is working on introducing higher-quality ZiG banknotes in larger denominations—ZiG10, ZiG20, ZiG50, ZiG100 and ZiG200. However, he cautioned that the rollout would happen gradually and would depend on demand.
“The process of procuring and producing banknotes, however, can be lengthy, and the Reserve Bank will keep the public updated on the progress,” he said.
RBZ to Enforce POS Machines for Informal Traders to Push ZiG
The RBZ governor revealed that the central bank’s efforts to encourage wider use of ZiG include a plan to enforce the use of POS machines across the economy, even among informal traders. However, he didn’t say how the central bank intends to enforce this rule.
“In addition to issuing the enhanced quality banknotes, the Reserve Bank announced measures to support the increased use of ZiG, particularly in the informal sector. These measures include the planned enforcement of point-of-sale (POS) machines for all businesses in the economy,” he said.
Also read: NO POS Machine, NO Business Licence: Zimbabwe Cracks Down on Informal Businesses
No POS, No Licence
Back in March 2025, the government had already warned businesses that they risk losing their operating licences if they failed to install POS machines. As part of a broader plan to formalise the informal economy, authorities made it compulsory for businesses to have both POS devices and registered bank accounts to qualify for legal operations.
To support this policy, the government has reportedly teamed up with banks to ensure wider access to POS machines. Dr Mushayavanhu confirmed the cooperation:
“The Reserve Bank is collaborating with banking institutions through the Bankers Association of Zimbabwe and other service providers to ensure that POS gadgets are available to all businesses.”
It was also reported that local authorities across the country had been instructed to implement these new requirements.
Follow Us on Google News for Immediate Updates
The post No More Cash-Only: RBZ to Enforce POS Machines for Informal Traders to Push ZiG appeared first on iHarare News.
