The Reserve Bank of Zimbabwe (RBZ) says it is confident the country will be ready to fully move from its current multicurrency system to using only the local currency by 2030.
RBZ Governor, Dr. John Mushayavanhu, explained that this shift is part of the government’s de-dollarisation roadmap, which will be built into the National Development Strategy 2 (NDS2) — Zimbabwe’s main economic plan for 2026 to 2030. The NDS2 will take over from the current NDS1, which ends in December 2025, and aims to guide the country towards an upper-middle-income economy by 2030.
Dr. Mushayavanhu said the RBZ, which leads the NDS2 Macroeconomic Stability and Financial Deepening group, is already holding talks with different stakeholders.
“The roadmap will highlight the need to keep the current stability, protect foreign currency accounts, and respect all USD-based contracts. I am confident the fundamentals will be in place to support the transition,” he said.
The plan will gradually reduce Zimbabwe’s reliance on the US dollar and promote wider use of the Zimbabwe Gold (ZiG) currency. However, many people have expressed concerns, especially since all USD contracts, including bank loans, are now set to expire by 2030. Others are worried about the future of their foreign currency savings.
Dr. Mushayavanhu assured the public that their USD accounts will remain protected and all agreements will be honoured even after the switch.
On the performance of the ZiG, the RBZ governor noted a rise in its use for transactions. The share of electronic ZiG payments in the National Payments System grew from 26% in April 2024 to over 40% in June 2025. There has also been higher demand for ZiG cash.
To meet this demand, banks have been told to keep at least 3% of their ZiG deposits as cash for circulation. By the end of September 2025, all banks are expected to make ZiG cash available through ATMs and banking halls.
Currently, banks have more than ZiG200 million in their vaults ready for customers. The RBZ says these measures will make the switch to a single currency smoother while keeping public trust in the financial system.