Zimbabwe suspends electronic ZWL bond transactions, shifts to new Zig currency


IN a major development for Zimbabwe’s financial sector, electronic ZWL Bond transactions have been suspended as banks and service providers embark on a transition to the newly introduced Zig currency.

All ZWL Bond balances are being converted to the new currency that was introduced by the Reserve Bank of Zimbabwe on Friday.

Meanwhile, consumers are failing to pay bills or buy airtime on electronic ZWL Bond platform-a situation that is expected to have stabilised by Monday.

The decision to migrate to the Zig is part of the broader efforts to streamline the country’s monetary system. This move signals a significant step towards a more stable and robust monetary framework in Zimbabwe, albeit requiring a period of adjustment for all stakeholders involved.

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