The Reserve Bank of Zimbabwe (RBZ) has revealed plans to roll out a de-dollarisation roadmap in November, alongside the country’s new five-year economic blueprint.

Speaking in his 2025 mid-term monetary policy statement, RBZ Governor John Mushayavanhu said the bank is consulting widely with stakeholders after concerns were raised over U.S. dollar-denominated contracts — including bank loans — which will now be capped at 2030.

Mushayavanhu explained that the roadmap will seek to maintain stability, protect foreign currency accounts, and honour existing U.S. dollar contracts while ensuring business continuity and certainty.

He noted that Zimbabwe’s improved macroeconomic stability has already driven increased use of the Zimbabwe Gold (ZiG) currency, with demand for ZiG cash also rising sharply.

The governor added that the RBZ is in the advanced stages of modernising ZiG banknotes, with redesigned notes set for release soon.

The big question: After years of surviving on the U.S. dollar, can Zimbabweans really trust ZiG to hold its value? Or is this just history repeating itself?