The ManicaPost
Post Reporter
ELECTRONIC transactions in local currency have been suspended as banks and service providers transition to the newly introduced ZiG currency, marking a major development for Zimbabwe’s financial sector.
All Zimbabwean dollar currencies are being converted to the new currency that was introduced by the Reserve Bank of Zimbabwe governor, Dr John Mushayavanhu, during his Monetary Policy Statement presentation yesterday.
This has resulted in consumers being unable to transact, pay bills or buy airtime on local currency electronic platforms and the situation is expected to improve soon.
“Dear customer. Please, note we have suspended trading in ZWL effective 5 April as we prepare for currency changeover on our system. We regret any inconvenience,” reads a message from one of the network service providers.
Migrating to ZiG is part of broader efforts to streamline the country’s monetary policy, signaling a significant step towards a more stable and robust monetary framework for the country.
This requires a period of adjustment for all the stakeholders involved.
