Consumers across the country were left stranded after banks and mobile money transactions in Zimbabwe dollar were suspended following the introduction of a new currency on Friday.

The newly appointed Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu unveiled the new gold-backed currency known as the Zimbabwe Gold (ZiG). The new currency fueled confusion among many consumers in Zimbabwe.

The local unit which is being replaced by ZiG was reintroduced in 2019 after ten years of dollarization.

The Zimbabwe dollar’s free-fall accelerated recently and this forced some businesses to stop accepting it in favour of the United States dollars.

The free-falling Zimbabwe dollar also pushed up inflation.

Consumers share their views following the introduction of the new currency:

As long as black market money changers are not dealt with and eradicated from the streets. ZIG will follow the same path all predecessor currencies followed. Who protects the men and women in the streets with the artificially high forex rates? As long as there is no plan to deal with these unscrupulous characters in our economy, ZIG inogona kungoitawo nhava izere mhepo. Reserve Bank ZIM make bureau de changes and banks the only mandated institutions to deal with forexLinda Masarira 

The self-indulgent claim that you will find QR codes on banknotes ‘only in Zimbabwe’ is either ignorant propaganda or malicious propaganda or both. This is because the claim is a frivolous, arrogant, blatant and foolish falsehood. Jonathan Moyo

Respectfully, the roll out of the ZiG currency has been incredibly clumsy. The confidence and reasonableness issues aside, why not give citizens notice? Every payment platform is down. One can’t buy ZESA. Why not just give people one day’s notice so that they can plan their lives?  Governing by ambush is not a winning strategy. We need new leaders.🇿🇼 Fadzai Mahere

Zimbabweans need new leaders both in ruling and opposition. Currently we are leaderless both sides.Tongai Chipangura  

Zimbabwe’s new governor is a clown. Yesterday he introduced a new currency ZiG. Today he implies it’s it good enough as he charges speaking fees in USD. Why the F should people pay to hear you do your job?Chipo Dendere

Good people. Do you remember the first Bond Note. Emmerson waved it in the air, The Herald took pictures. Emmerson smiled and said “One Bond to One USD “. We said this will never work. And it did not work. Now the ZiG. Please, come on ! This is worse than the Bond, kkkkkkkkFelix Ndiweni

These guys are a real big joke, I tell you! The central bank governor of Zimbabwe, John Mushayavanhu, introduced a new local currency called the ZiG and encouraged Zimbabweans to have faith and confidence in it. Then, a day after that, a poster comes out advertising a breakfast meeting where he will talk about the new currency and those attending are being charged in US Dollars! 🤣🤣🤣 You could never make this crap up, even if you tried, I tell you! 🤣🤣🤣 An event to talk about the new currency the ZiG is being charged in a different currency in the same country 🤣🤣🤣Hopewell Chin’ono

So ZiG is already causing chaos banking systems are down. No withdrawals or deposits happening today, banks are rolling over the system to ZiG. USD accounts also affected. Talk about confidence building, madii kuita neSunday.Dhara Blessed Mhlanga HSTV

ZiG my friend! How long are you going to last? Can I use you to get my passport? Can I buy with you on Alibaba? Are you not going to take the route of your comrades whose value was decided in the streets? Will you accomplish what your brothers failed? Bond ndokundi bainer, Rtgs.Shelton Mununuri



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