“Even if you introduce ZiG500, it’s useless,” citizens react to rollout of new banknotes

Zimbabweans have reacted with scepticism to the rollout of upgraded Zimbabwe Gold (ZiG) banknotes which began Tuesday, with many saying the local currency still lacks value and wide acceptance in everyday transactions.

The Reserve Bank of Zimbabwe (RBZ) unveiled a new set of ZiG banknotes, known as the “Big Five,” during the February 2026 Monetary Policy Statement.

The move was aimed at introducing stronger, higher-quality notes designed to last longer and withstand extended use in circulation.

Street interviews conducted in Harare by NewZimbabwe.com revealed frustration over the continued introduction of new denominations.

Aaron Tembo, a Harare resident said the frequent rollout of new notes has failed to build confidence among citizens.

“We really do not care, whether it’s a ZiG10, ZiG20, ZiG50 or whichever amount they recently released, soon they will be releasing ZiG500 because it benefits them in whichever way they do but we do not care about ZiG or want it,” said Tembo.

He added: “What do I want ZiG for? A currency which only works in Zimbabwe, you go to Zambia it becomes useless, we want money that has value.”

Others questioned the purchasing power of the currency, saying it does not meet daily needs. Cleopatra Chimangiwe said: “We do not even want to see it at all because it does not buy anything, it has no value.”

Arthur Mutsvene echoed similar concerns, saying the currency is not widely accepted for essential services. “Money must buy all necessities not just saying new notes new notes, which cannot buy anything,” he said. “These bank notes are not allowed at any fuel pump while that is our own Zimbabwean currency, so why is it they cannot buy essentials, now you are talking of bringing more upgraded notes what for?”

The central bank says new Zimbabwe Gold (ZWG) notes will be introduced in phases starting with ZWG10, ZWG20 and ZWG50 from 7 April 2026, followed later by higher denominations and smaller coins to meet public demand and provide change.

Meanwhile in many parts of Zimbabwe, especially provinces such as Masvingo and Matabeleland, residents continue to rely mainly on the South African rand and United States dollar, with ZiG usage largely concentrated in Harare.