Government Official Confirms Zimbabwe’s Upcoming De-Dollarization Strategy
Zimbabwe’s Cabinet has approved a de-dollarization roadmap aimed at establishing the Zig currency as the sole legal tender by early 2026.
The plan includes strengthening mandatory licensing requirements for businesses to have bank accounts and point-of-sale devices. With the U.S. dollar currently accounting for over 70% of Zimbabwe’s economic transactions. The government’s new measures are designed to reduce reliance on the greenback.
The Reserve Bank of Zimbabwe will also enhance oversight and increase penalties. For unfair trade practices to support the transition to the Zig.
Clever Robot News Desk 9th August 2024
