New ZiG Notes To Resolve “Small Change” Crisis In Shops – Retailers

The local business community has welcomed the Reserve Bank of Zimbabwe’s decision to introduce new ZiG banknotes, saying the issuance will improve the ease of doing business.

Denford Mutashu, President of the Confederation of Zimbabwe Retailers (CZR), said the release of the new notes and coins is expected to resolve the chronic shortage of small denominations, which has long been a challenge for consumers.

“As business, we embrace the upgraded ZiG for seamless transacting by members of the public. We embrace the new ZiG with pride because it’s durable and is set to be accepted widely by the people,” said Mutashu.

“The ZiG coins will alleviate the change problem that has been a nightmare for consumers. Let us eradicate coupons and sweets as change.”

Zimbabwe National Chamber of Commerce (ZNCC) president Tapiwa Karoro said that a stable and credible domestic currency is a critical pillar for sustainable economic growth, price stability, and long-term national competitiveness.

“The Zimbabwe National Chamber of Commerce notes the forthcoming release of the upgraded ZiG by the Reserve Bank of Zimbabwe,” he said.

“As the representative body of Zimbabwe’s private sector, ZNCC views a stable and credible domestic currency as a critical pillar for sustainable economic growth, price stability, and long-term national competitiveness.

“Our message to the ZNCC membership and the broader business community is clear: the success of any national currency ultimately depends on the confidence and participation of its users, particularly the productive private sector.”

Karoro urged ZNCC members to support the practical and responsible use of ZiG in commercial transactions where appropriate.

“The widespread adoption of the local currency has several important benefits for our economy,” Karoro said.

“Strengthening monetary sovereignty by reducing excessive dependence on foreign currency in domestic transactions.

“Improving liquidity circulation within the productive sectors of the economy.

“Enhancing price discovery and economic planning in local currency terms.

“Supporting the development of domestic capital markets and financial intermediation.”

Karoro affirmed that the ZNCC will maintain a close partnership with the Government and monetary authorities to champion business interests and ensure the monetary framework fosters growth, competitiveness, and national prosperity.

More: The Herald

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