In a move aimed at widening the circulation and divisibility of the Zimbabwe Gold (ZiG), the Reserve Bank of Zimbabwe has called on the public, including vendors and transport operators, to visit their nearest Homelink branches starting next Monday, to get coins.
The move is aimed at ensuring that small change is widely available.
Presently, those boarding commuter omnibuses to town from their areas of residence or paying for fresh farm produce at markets, are paying ZiG10, which is regarded as US$0.50c, given the absence of small coins, when in fact it is equal to US$0,70c.
In doing so, the people are needlessly losing the value of their money.
In a statement dated 4 June 2024, RBZ Governor Dr John Mushayavanhu said they were committed to ensuring sufficient local currency circulation in the economy to support normal business transactions and economic activity.
"Pursuant to the above and for the convenience of the transacting public, the bank wishes to advise the public of an arrangement with Homelink to widen access to ZiG cash, leveraging on its existing branch network," he said.
"The bank particularly seeks to expand the economy-wide availability of small change in the following denominations: ZiG1, ZiG2, ZiG5 and ZIG10.
"The bank appeals to the all individuals, commuters, public transport operators, retailers, informal traders and their associations, vendor associations and other key stakeholders, which interface with the transacting public, to approach their nearest Homelink branch and swipe for ZiG cash using their local currency debit/credit cards, with effect from Monday June 10, 2024."
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The exchange of foreign currency cash for ZiG cash can also be made at Homelink branches at the ruling interbank exchange rate.
Dr Mushayavanhu said the arrangement with Homelink was part of wider initiatives by the RBZ to ensure availability of ZiG cash in the economy.
"Going forward, the initiative will be expanded to other bureau de changes," he said.
In separate interviews in Harare, the transacting public welcomed the decision by the RBZ.
Mr Simon Razunguzwa said: "With the coming of small change like ZiG2, transactions that were not being done, as consumers felt they were being prejudiced in the absence of change, are now expected to start taking place.
"Similarly, the loss of value that consumers have been suffering in the absence of small change, is going to be prevented.
"Therefore, we salute the decision by the RBZ."
Ms Stacey Nzirawo said: "As a vendor, I am excited that next week there will be adequate change and I will be able to serve all my customers as long as I have stock.
"The development should improve my business because sometimes lost customers who needed their change for other transactions."
Mrs Nancy Svova, an educator from Chitungwiza, said: "President Mnangagwa's mantra 'Nyika inovakwa nevene vayo' is now manifesting itself. The call by the RBZ means people will be able to develop their own country using their own currency more."
