Upgraded ZiG Banknotes Coming in 2026 as Government Moves to Boost Confidence in Local Currency

Zimbabwe to Introduce High-Quality ZiG Banknotes in First Quarter of 2026

Zimbabwe will introduce high-quality Zimbabwe Gold (ZiG) banknotes in the first quarter of 2026.

The move is aimed at strengthening the country’s currency framework and boosting confidence as the nation works toward establishing a sustainable mono-currency system.

Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube announced the development while presenting the 2026 National Budget in Parliament last week.

He confirmed that production of the upgraded notes was already at an advanced stage.

Also Read: Mthuli Ncube Reveals Full Conditions For Zimbabwe To Ditch USD For ZiG Sole Currency

“This Is Not a New Currency” — Ncube Clarifies

Professor Ncube emphasized that the rollout does not signal the introduction of a new currency but rather an improvement in the durability and quality of the existing ZiG notes.

“A critical success factor for a smooth transition to a mono-currency is the availability of high-quality and durable banknotes. This does not entail introducing a new currency, but issuing improved high-quality ZiG banknotes to ensure durability and public convenience,” he said.

The Reserve Bank of Zimbabwe (RBZ) is expected to provide full rollout details in the February 2026 Monetary Policy Statement.

Foreign Currency Accounts and USD Assets to Remain Protected

The transition to a mono-currency will not involve forced conversion of foreign currency holdings.

Foreign currency accounts will continue to operate, and pension funds’ USD-denominated assets will remain intact.

Additionally, the Government has reaffirmed the security of US dollar-based assets such as stocks, shares and bonds, including those traded on the Victoria Falls Stock Exchange (VFEX) and Treasury bills issued for budget financing.

According to the National Development Strategy 2 (NDS2), all contractual obligations—such as bank loans and financial commitments made before de-dollarisation—will be honoured to ensure the public does not lose value.

Conditions for Mono-Currency Transition

NDS2 outlines several prerequisites that must be met before Zimbabwe can fully adopt a mono-currency system. These include:

Sustained low and stable inflation at single-digit levels
Adequate foreign currency reserves amounting to three to six months of import cover
A stable exchange rate and unified, efficient foreign exchange management system
Increased demand for ZiG through taxes and payment of public services
Strong alignment between fiscal and monetary policy

The Government says significant progress has already been achieved since the introduction of the ZiG in April 2024.

Why Zimbabwe Is Moving Away From Multicurrency

Zimbabwe has operated under a multicurrency system since 2009, with the US dollar dominating transactions. While the US dollar has helped anchor inflation, it has also limited Zimbabwe’s ability to influence monetary policy, weakened trade competitiveness and created practical challenges such as change shortages.

Authorities believe a stable local currency will allow for:

Better economic planning
Stronger local industry competitiveness
Protection of savings and investments
Improved policy control
Reduced exposure to external shocks

Aiming for Stability and Public Trust

The introduction of high-quality ZiG banknotes is expected to enhance public confidence, support transactional efficiency and lay the groundwork for a future mono-currency environment.

Government maintains that the transition will be gradual, carefully managed and anchored on safeguarding the value of people’s assets and savings.