RBZ To Introduce Higher Denomination ZiG Bank Notes And Increase Amount Of ZiG Cash: Mthuli Ncube

New ZiG Banknotes Coming Soon Says Finance Minister

The Reserve Bank of Zimbabwe (RBZ) is set to introduce new, higher-value Zimbabwe Gold (ZiG) banknotes and significantly increase the amount of physical ZiG cash in circulation. This major move comes directly from the country’s Finance Minister, Mthuli Ncube, who announced the plan in response to widespread public demand for more accessible local currency.

The decision follows extensive national consultations for the 2026 budget, where citizens and businesses consistently raised the issue of scarce ZiG notes and coins. The currency, which replaced the inflation-ravaged Zimbabwe dollar in April 2024, has been praised for its stability but criticised for its limited physical presence in the everyday economy.

Public Demand For Cash Heard

During an interview at the 2026 Pre-Budget Seminar in Bulawayo last week, Minister Ncube confirmed that the call for more tangible money was impossible to ignore. He stated that the government is acting through the central bank to address this pressing concern.

“The Government has a programme through the central bank, the Reserve Bank of Zimbabwe (RBZ), to increase the amount of cash that’s available in ZiG form, in domestic currency form, so the public can feel this currency,” said Prof Ncube.

This initiative is designed to make the ZiG a more tangible and usable currency for all Zimbabweans, moving beyond digital transactions.

New Notes For Improved Convenience

Beyond simply printing more money, the strategy includes a significant upgrade to the currency notes themselves. Minister Ncube revealed that the new higher denomination notes will be part of a broader effort to enhance the user experience and durability of the physical currency.

“But also going forward, we will introduce higher denomination notes, which will improve convenience, and also we are going to improve the quality of the notes so they are durable and so forth.”

The minister emphasised that this expansion of the monetary base would be handled with extreme care to maintain the hard-won stability of the ZiG, which has been backed by the nation’s gold and foreign currency reserves.

A Prudent Approach To Circulation

Assuring the public and markets, Minister Ncube highlighted that the government is committed to a responsible and measured approach. The goal is to satisfy the demand for cash without triggering the inflationary spirals that have plagued the country in the past.

Minister Ncube said the authorities wanted to do it in a manner that is prudent, not reckless and that continues to show the public that they are responsible.

This policy shift aligns with other government measures, such as enforcing the mandatory acceptance of ZiG for local transactions. The increased cash circulation aims to complement these efforts and solidify the ZiG’s role in the domestic economy. A specific timeline for the launch of the new notes and the cash increase was not provided.