RIGHTS group ActionAid has slammed the recent launch of the new structured currency, Zimbabwe Gold (ZiG) saying the nation needs restoration of confidence in the economy, not a new currency.

Over the years, Zimbabwe has grappled with the repercussions of currency instability, witnessing the introduction of various currencies, each accompanied by promises of economic recovery.

In a statement Friday, ActionAid said Zimbabwe needs comprehensive reforms addressing issues such as corruption, mismanagement, and lack of transparency to restore confidence.

"While the initiative may be presented as a solution to Zimbabwe's economic challenges we believe that what Zimbabweans truly need is the restoration of confidence in the economy, not the introduction of yet another currency.

"The introduction of the ZiG currency risks repeating the mistakes of the past. Instead of addressing the root causes of our economic challenges, it offers a temporary fix that fails to inspire confidence among Zimbabweans.

"We believe that true economic recovery can only be achieved through comprehensive reforms that address issues such as corruption, mismanagement, and lack of transparency," ActionAid said.

The rights group also urged government officials to prioritize measures that will rebuild trust in the economy and consult all society stakeholders for long-lasting solutions.

"This includes fostering an environment that is conducive to investment, promoting accountability and good governance, and prioritizing the needs of ordinary Zimbabweans.

"We urge policymakers to engage in meaningful dialogue with stakeholders from all sectors of society to develop sustainable solutions that will benefit the entire nation.

"We reiterate that what Zimbabweans need is not just a new currency, but a fundamental shift towards a more inclusive and equitable economy. Only through genuine reform and commitment to the well-being of all citizens can we truly build a prosperous future for Zimbabwe."