Economy | Zimbabwe | Currency | ZiG | RBZ | FIU
The Reserve Bank of Zimbabwe (RBZ) has taken a significant step to promote the adoption of the Zimbabwe Gold (ZiG) currency by introducing a reporting hotline and WhatsApp numbers for the public to report businesses that refuse to accept the currency.
Reporting Mechanism
The Financial Intelligence Unit (FIU) has set up a hotline (0714039897) and WhatsApp numbers (0780434475) for the public to report companies or individuals who:
- Refuse to accept ZiG in transactions
- Use black market exchange rates
- Exceed the official ZiG/US$ exchange rate
Encouraging Public Participation
The FIU is urging Zimbabweans to report any instances of ZiG rejection or abuse, which will help to increase the currency’s adoption and usage. By reporting non-compliant businesses, the public can play a vital role in promoting the ZiG as the preferred choice among the multi-currency basket.
Boosting ZiG Adoption
The introduction of the reporting mechanism is a significant move by the RBZ to boost ZiG adoption. According to economic experts, the success of the ZiG depends on the public’s confidence in the currency. By encouraging the public to report any instances of ZiG rejection, the RBZ aims to increase trust and confidence in the currency.
