On April 8, 2024, Zimbabwe transitions to the gold-backed ZiG currency, moving away from the depreciating ZWL.
This initiative, led by Central Bank Governor John Mushayavanhu, relies on 2.5 tons of gold and diverse foreign currency reserves.
The change aligns with extensive economic reforms aimed at stabilizing Zimbabwe's economy amidst inflation and currency depreciation challenges.
The ZiG's introduction required rapid adjustments within the financial sector, leading to a temporary halt in ZWL transactions.
Financial institutions worked diligently over the weekend to integrate ZiG into their systems.
A 21-day period allows for ZWL note deposits before. . .
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