Reserve Bank of Zimbabwe (RBZ) Introduces New Measures to End ZiG Cash Shortages
Reserve Bank of Zimbabwe (RBZ) governor Dr John Mushayavanhu says the central bank is working hard to fix the ongoing shortage of physical ZiG notes, especially in underserved areas where people still rely heavily on cash.
In an interview with The Sunday Mail, Mushayavanhu said the RBZ has increased cash deliveries to banks and is now pushing for more ATMs and banking halls to dispense ZiG, particularly in remote communities.
RBZ Reveals New Measures to End ZiG Cash Shortages
Mushayavanhu revealed that banks have been instructed to notify customers regularly about the availability of ZiG cash. He said the RBZ is also closely watching how much cash people need and will release more coins and notes depending on usage patterns and economic activity.
“The Reserve Bank is actively working to enhance access to ZiG cash through ATMs, and banks are currently in the process of configuring their systems to facilitate this cash disbursement through ATMs. The level of economic activity and increased usage of transactions settled in ZiG in the economy guide the amount of ZiG notes and coins to be injected into the economy. In this context, the Reserve Bank remains committed to ensuring that all the demand for ZiG cash is met and that it fully supports transactional convenience,” he said.
Also read: Reserve Bank of Zimbabwe (RBZ) Breaks Silence on ZiG Cash Shortages
More Cash, But No Inflation Risk, Says RBZ
Some people have expressed concern that pumping more cash into the economy could lead to inflation or economic instability. But Mushayavanhu dismissed those fears.
He explained that any new ZiG cash released will simply replace existing electronic balances, not add new money to the system. This, he said, would help absorb excess liquidity, not fuel it.
“As such, the Reserve Bank will not issue more ZiG cash than what is already existing in the banks’ deposits at the central bank,” Mushavanhu explained.
ATMs Slowly Coming Online
Mushayavanhu also confirmed that many banks are still in the process of reconfiguring ATMs to dispense ZiG notes. While cash has always been available inside banking halls, only a few banks had made it accessible via ATMs — something the RBZ now wants to fix.
“It is essential to recognise that ZiG cash has consistently been accessible at all banks, primarily via banking halls, while only a limited number of banks were offering cash through ATMs,” he added.
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