RBZ Introduces ‘Swipe For ZiG Cash’ To Tackle Small Change Shortage

The Reserve Bank of Zimbabwe (RBZ) has launched a new initiative called “Swipe for ZiG Cash” in collaboration with Homelink to address the shortage of small change in the country.

According to RBZ Governor John Mushayavanhu, individuals can visit their nearest Homelink branch starting from Monday, June 10, 2024, and swipe for ZiG cash using their local currency debit/credit cards.

The initiative aims to ensure an adequate circulation of ZiG currency to support normal business transactions and economic activity.

The partnership with Homelink expands access to ZiG cash through its existing branch network, with a focus on providing smaller denominations such as ZiG1, ZiG2, ZiG5, and ZiG10.

RBZ encourages various stakeholders including individuals, public transport operators, retailers, and informal traders to utilize this service and exchange their local currency for ZiG cash.

Additionally, foreign currency cash can also be exchanged for ZiG cash at Homelink branches at the prevailing interbank exchange rate.

This initiative is part of the broader efforts by RBZ to ensure the availability of sufficient ZiG cash in the economy. Plans are underway to extend this service to other bureau de changes in the future.

A list of Homelink branches across the country is provided for easy access, including locations in Bulawayo, Chitungwiza, Gweru, Harare, Kwekwe, Mutare, and Rusape. Nhau/Indaba

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