Harare, (New Ziana)-Zimbabweans on Tuesday started withdrawing the Zimbabwe Gold (ZiG) banknotes and coins from banks as the country rolls out the new currency.
Early this month, the Reserve Bank of Zimbabwe introduced a structured currency, the ZiG, which is backed by gold and other precious metals, and a basket of foreign currencies,
Use of the new currency has been going on electronically since the launch with the release of the notes and coins delayed to enable printing and to raise awareness about their security features.
The new currency has denominations of 1 ZiG, 2 ZiG, and 5 ZiG in coins, while notes are denominated in 10 ZiG, 20 ZiG, 50 ZiG, 100 ZiG and 200 ZiG.
Withdrawal limits were set at ZiG3 000 for individuals and ZiG30 000 for corporates.
Zimbabweans who spoke to New Ziana after withdrawing the new currency expressed relief that challenges of change would be a thing of the past.
“We are happy that now we have change for paying for goods and mainly transport, because before the release of ZiG notes, even for short distances, we were paying US$1,” said Emilia Muronda from Chitungwiza.
Also speaking soon after making a withdrawal, Watson Bhaureni from Warren Park said: “We have been rescued from getting a packet of spaghetti or biscuits as change for every trip.”
While consumers have been purchasing goods in ZiG electronically in most major retail outlets after they successfully configured their systems, they were not getting change or cash back because the notes and coins had not yet been released.
To avoid paying a dollar and not getting change on public transport, some thrifty passengers were pairing up, including with unknown persons, with one paying the fare and the other buying drinks or other items from vendors when they disembarked, before parting ways.
Those who failed to find “partners” were losing out, as the bus crews took advantage of the situation and said they did not have change.
Addressing mourners at the burial of three national heroes on Monday, President Mnangagwa commended Zimbabweans for embracing ZiG, saying it was a symbol of the country’s identity and dignity.
New Ziana
