Zimbabwe pushes ZiG currency adoption and SME capital market reforms

The Zimbabwean government said it will not compel businesses to accept the new Zimbabwe Gold (ZiG) currency, opting instead to build confidence through economic stability and gradual policy measures. Justice, Legal and Parliamentary Affairs Minister Ziyambi Ziyambi told the Senate that ZiG currently accounts for about 20% of the money supply and that the government is encouraging its use by requiring some taxes to be paid in the local currency. He noted that fuel stations have begun accepting ZiG to meet tax obligations and emphasized that the approach is to encourage, not force, its use.

At the launch of the Zimbabwe Entrepreneurship Exchange, Finance Minister Professor Mthuli Ncube announced reforms to deepen the capital markets and expand financing options for small and medium-sized enterprises (SMEs). SMEs contribute roughly 60% of GDP, 70% of employment and represent about 90% of businesses in Zimbabwe. The reforms will introduce new platforms such as invoice discounting, private‑capital markets, property‑backed bonds, peer‑to‑peer lending and equity listings on the Zimbabwe Stock Exchange, aiming to unlock growth and help the country reach upper‑middle‑income status by 2030.