Deputy Finance Minister David Mnangagwa says government cannot force Zimbabweans to trust the ZiG currency, acknowledging that public confidence in the structured currency will take time to build.
Speaking in Parliament, Mnangagwa revealed that the United States dollar still accounts for nearly 75 percent of transactions in the economy, highlighting continued market preference for foreign currency despite government efforts to promote ZiG adoption.
“We cannot force people to have confidence in the ZiG, but we’ll continue to support it until the market has confidence,” he said.
The Deputy Minister said authorities would allow market forces to influence the pace of adoption while government continues supporting the currency framework introduced in April 2024.
His remarks came after legislators questioned why many citizens still struggle to use ZiG for essential services such as fuel purchases and passport payments despite the currency being officially recognised.
Government maintains that the ZiG—backed by gold and foreign currency reserves—is designed to stabilise the economy and restore trust in the local monetary system after years of inflation and currency instability.
However, analysts say confidence remains fragile as businesses and consumers continue relying heavily on the US dollar for pricing, savings and transactions.
