Zimbabwe’s efforts to stabilize its currency, the Zimbabwe Gold (ZiG), are showing significant progress, with foreign currency reserves surpassing US$600 million by March 2025, up from US$270 million in April 2024. This growth is seen as a critical step in building confidence in the ZiG, launched in April 2024, with reserves now sufficient to cover bank deposits. Experts and industry leaders have praised the development as a turning point for Zimbabwe’s monetary policy.
Zachary Tambudzai, dean of the Faculty of Commerce at Bindura University, called the reserve growth a “huge milestone,” reflecting the central bank’s commitment to stabilizing the currency through prudent policies. Confederation of Zimbabwe Industries president Mucha Mkanganwi highlighted that improved currency stability fosters industrial growth by providing economic certainty.
