The Government may remove the widely cited 2030 deadline for ending Zimbabwe’s multicurrency system, as Treasury Permanent Secretary George Guvamatanga revealed the date did not originate from government but from industry pressure.
Speaking during a post-budget panel discussion, Guvamatanga said the 2030 timeline — commonly understood as the sunset clause for the continued use of the US dollar — was in fact pushed by the Confederation of Zimbabwe Industries (CZI) and other stakeholders during consultations.
“The 2030 date was never a government date,” Guvamatanga said.
“When we worked on the Statutory Instrument, I argued that we should not put a closing date. But there was strong pushback from CZI, who said, ‘We want a date.’ They asked for 2030.”
Guvamatanga added that government merely published the SI after industry groups and the Bankers Association of Zimbabwe (BAZ) drafted most of its clauses.
“We didn’t place the date there. The SI was largely driven by BAZ… their lawyers wrote it. We simply published it,” he said.
He hinted that after internal discussions, government is now considering removing the date altogether, meaning the multicurrency system — dominated by the US dollar — could remain in place beyond 2030.
“Minister, we might consider removing the date… It’s not our date. We will review, as you indicated,” he noted.
The remarks represent the clearest signal yet that Zimbabwe’s de-dollarisation timeline may be abandoned, echoing growing market sentiment that the US dollar will remain central to the economy for years.
The 2030 deadline has been a key reference point for businesses and investors planning long-term projects. Removing it could provide greater certainty for markets but also raises questions about the future of Zimbabwe’s local currency strategy.
